26 Apr '16, 5am

#singapore #property New HDB flats now more affordable: Paying off the monthly instalme...

HDB flats have become more affordable since 2013. Paying off the monthly instalments of HDB loans for Build-To-Order (BTO) flats has become easier in the past three years, even though the maximum tenure of these mortgages was reduced from 30 years to 25 years in 2013, reported TODAYonline . According to the Housing Board, the debt servicing ratio (DSR), or the proportion of a household’s monthly income that’s used to repay the loan instalment, declined from 24 percent in 2013 to 19 percent last year. With a DSR of less than 25 percent, households that contribute the regular amount to the Central Provident Fund (CPF) should be able to service most, if not all of their loan instalments using only their contributions, said a HDB spokesman. In fact, eight out of 10 first-time buyers of new flats in non-mature estates were able to fully repay their monthly mortgage instalments ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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