Let me make it clear about Income Guidelines along with other Documents

To process the application for the HDB Loan Eligibility (HLE) letter, we must have the income that is necessary for many individuals placed in the application form. In the event that papers are incomplete, the HLE application may not be prepared. We might additionally request extra papers to be submitted for credit evaluation function.

If you should be working overseas, please submit income that is additional such as for instance your employment pass, work license, company documents, or international income tax statements. A english that is official translation needed if the initial papers aren’t in English, Mandarin, Malay or Tamil.

The next types of income/ allowance will never be considered for credit evaluation:

  • Alimony/ maintenance charge
  • Bonuses
  • Claims/ reimbursement/ expenses
  • Director’s cost
  • Dividend income/ interest from deposit reports
  • Income from advertising hoc overtime work
  • National provider allowance
  • Occupier’s earnings
  • International price of living allowance*
  • Pension*
  • Leasing income
  • Scholarship allowance that is overseas

* This applies for HLE applications received from 28 Aug 2018. The revised guidelines will apply if both your HLE and new flat applications are received from the Aug 2018 sales launch onwards for purchase of a flat from HDB.

The applicant should be employed in the month of application and stay gainfully used before an HDB housing loan is disbursed.

If you’re used but on no-pay leave at under half a year during the time of application, we shall make use of your final drawn purchase assessment. In the event that period of no-pay leave is six months or higher during the period of application, your revenue won’t be considered.

Discover more about the papers you will need to submit predicated on your nature of work.

Employed individuals (with month-to-month CPF share)

As a job candidate:
  • a few months’ payslips preceding the month of application or perhaps a recent letter ^ (sample)(JPEG, 125KB) through the boss certifying work designation, commencement date, and salaries for a few months preceding the thirty days of application; and
  • Latest 15 months’ CPF contribution history (sample)(JPEG, 165KB)
Note:
As an occupier:
Records:

* Employed persons will have to submit payslips to exhibit the breakdown of earnings elements received. As income taxation statements usually do not mirror the break down of earnings, they shall never be accepted.

^ For evidence of earnings, all company’s letters will need to have the business letterhead/ stamp, additionally the title, signature, and designation associated with the officer that is certifying.

Employed people (without month-to-month CPF share)

As a job candidate:
  • 6 + months’ payslips preceding the thirty days of application, or a present letter^ (sample)(JPEG, 125KB) through the manager certifying work designation, commencement date, and salaries for 6 + months preceding the thirty days of application; and
  • Credit Bureau report # (sample)(JPEG, 176KB); and
  • Latest 6 + months’ bank statements/ passbook (PDF, 103KB)
Note:

+ For HLE applications received before 28 Aug 2018, or new applications that are flat before Aug 2018 product sales launch, we’re going to require the latest one year’ payslips additionally the latest one year’ bank statements.

As an occupier:

a few months’ payslips preceding the thirty days of application or even a letter that is recent (sample)(JPEG, 125KB) through the boss certifying task designation, commencement date, and salaries for a few months preceding the month of application

Records:

* Employed people will have to submit payslips to demonstrate the break down of earnings components received. As earnings taxation statements try not to mirror the break down of earnings, they shall never be accepted.

^ For evidence of earnings, all manager’s letters will need to have the business letterhead/ stamp, additionally the title, signature, and designation of this certifying officer.

# A copy for the Credit Bureau report can online be requested, or at any SingPost Branch. Alternatively, you can travel to the Credit Bureau workplace to obtain a written report directly. The Credit Bureau will charge a charge for the report. For those who have required to possess your report delivered straight to HDB, please submit a duplicate regarding the re payment receipt for the verification.

Self-employed individuals

As a job candidate:
  • Latest Notice of Assessment (sample)(JPEG, 129KB) from IRAS or Certified yearly Statement of Accounts from a review company; and
  • Credit Bureau report # (sample)(JPEG, 176KB); and
  • Latest 6 + months’ bank statements passbook that is/PDF, 103KB)
Note:

+ For HLE applications received before 28 Aug 2018 or brand brand new applications that are flat before Aug 2018 product sales launch, we shall require the latest 12 months’ bank statements.

Being an occupier:
  • Latest Notice of Assessment (sample)(JPEG, 129KB) from IRAS or Certified yearly Statement of Accounts from an review company
Note:

# a duplicate associated with Credit Bureau report can online be requested, or at any SingPost Branch. Instead, you can travel to the Credit Bureau Office to get a written report straight. A fee will be charged by the Credit Bureau for the report. When you yourself have requested to possess your report delivered right to HDB, please submit a duplicate associated with re re payment receipt for the verification.

Commission-based and workers that are part-time

As a job candidate:
  • 6 + months’ https://speedyloan.net/uk/payday-loans-ess commission statements/ payslips preceding the thirty days of application, or even a current letter ^ (sample)(JPEG, 125KB) through the boss certifying work designation, commencement date, and commissions/ salaries for 6 + months preceding the thirty days of application; and
  • Latest 15 months’ CPF contribution history (sample)(JPEG, 165KB); and
  • Credit Bureau report # (sample)(JPEG, 176KB); and
  • Latest 6 + months’ bank statements/ passbook (PDF, 103KB)
As an occupier:

6 + months’ commission statements/ payslips preceding the thirty days of application, or even a current letter ^ (sample)(JPEG, 125KB) through the company certifying task designation, commencement date, and commissions/ salaries for 6 + months preceding the thirty days of application

Records:

+ For HLE applications received before 28 Aug 2018 or brand new flat applications received before Aug 2018 product sales launch, we shall require the latest year’ commission statements/ payslips. We shall likewise require the newest 12 months’ bank statements from candidates.

^ For evidence of earnings, all boss’s letters should have the organization letterhead/ stamp, additionally the name, signature, and designation associated with officer that is certifying.

# A copy regarding the Credit Bureau report can online be requested, or at any SingPost Branch. Instead, you can travel to the Credit Bureau workplace to directly obtain a report. The Credit Bureau will charge a charge for the report. When you have required to own your report delivered straight to HDB, please submit a duplicate associated with re payment receipt for the verification.

Odd job workers

As a job candidate:
  • Latest Notice of Assessment (sample)(JPEG, 129KB) from IRAS or a current letter ^ (sample)(JPEG, 125KB) through the company certifying task designation, commencement date, and payment/ salaries for 6 + months preceding the thirty days of application; and
  • Latest 15 months’ CPF contribution history (sample)(JPEG, 165KB) ; and
  • Credit Bureau report # (sample)(JPEG, 176KB) ; and
  • Latest 6 + months’ bank statements passbook that is/PDF, 108KB)
As an occupier:

Latest Notice of Assessment (sample)(JPEG, 129KB) from IRAS or a current letter ^ (sample)(JPEG, 125KB) through the manager certifying work designation, commencement date, and salaries for 6 + months preceding the thirty days of application

Notes:

+ For HLE applications received before 28 Aug 2018 or brand new flat applications received before Aug 2018 product product sales launch, we shall require the latest Notice of Assessment from IRAS, or a recently available letter from company certifying salaries during the last one year. We will likewise require the newest one year’ bank statements from candidates.

^ For evidence of earnings, all company’s letters will need to have the business letterhead/ stamp, therefore the title, signature, and designation regarding the certifying officer.

# a duplicate associated with Credit Bureau report can be requested online, or at any SingPost Branch. Instead, you can travel to the Credit Bureau workplace to directly obtain a report. The Credit Bureau will charge a charge for the report. For those who have requested to own your report delivered straight to HDB, please submit a copy regarding the re payment receipt for our verification.

Unemployed people

If you’re a complete time pupil aged 18 to 62, you will have to submit a valid pupil Pass.

The following documents are required in addition, if you have been unemployed for less than 3 months

  • Earnings proof for the preceding month(s) through the past boss saying your gross monthly earnings and final day’s solution; and
  • Latest 15 months’ CPF contribution history (sample)(JPEG, 165KB)