(2005/09) ROM in Sept 2005

i m trying to edit my blog template.. having no background in html or xml codes, this is killing me! dun feel like working today leh.. heehee...

Aeris, oh well, the gd thing abt this DBSS proj is u dun need to fork out cash for reno. getting a new flat u need to come out abt 15K to do basic stuff.. bad thing is that u are paying interest on the reno lah.. but then again many ppl take reno loans so still abt the same. think carefully.. sometimes if now painful, next time can enjoy more..
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must think carefully lor...

Dajie, ya i m sure u will be all those superficial ppl... honestly the industry u are in are not really famous for brainy ppl.. but heng u are not like the stereotypical ppl...
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Sue, oh okok.. then i also pray that u get >20%.. when will u know?
 


wx / Aeris: got to do maths liao. but still congrats on your good queue number.
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dajie: ya, your industry has a lot of 'PR PR' type of pple. all smiling type. but good to know that you are different from them. ;) at least i know you mean what you say. no hidden meaning.
 
ah bear,
my work dont need brains to do,need ppl skills.A skill,brainy ones dont have.Thus we dont require brainiacs.Those nerds r working in the office implementing service tt wont work in the air,only works in theory.
 
Bear I no mood to work too. lolz... surfing net n did 1 or 2 cases....

well... i tink so too. e reno part can save loh, no need to fork our cash. at least it's financed thr CPF. some more got 30K grant. if go for e gelang serai one no grant. so e price is abt e same liao.... thinking very carefully now....

Sheryl me working in Stat Board.... e pl which collects ur mthly contributions.... say helping u to save for ur retirement....

Tea, I did calculate tat we can opt for a 300K flat. but then, e payment mode for this project is a bit diff from the usual HDB flat payment. It's progressive type. So dunno who to calculate it. Maybe juz see which unit we like n go there ask e price loh. e price is onli avaliable when u go down to choose a unit....

can check out the progressive pymt here:
http://www.simlian.com.sg/news/Schedule%20of%20Progress%20Payment%20Model.pdf
 
tea,
to be honest,i can be those "PR PR" type too esp to ppl i dont knw well & hv to get s'thing done.But to those close to me,they alwayz get the best fr me.
No one wanna see a smileless face right?I already look so stern.
 
aeris> oh~ i see.. dealing with normal transactions or old people or other stuff like programming etc? coz got quite a few freinds inside some dept too.. maybe they are ur colleagues...
 
Aeris, i m looking at the payment mode. It seems that by TOP u would have already paid 85% of the purchase price! how can it be? let's say the flat is 300K, 85% would be 255K liao. or am i seeing the wrong thing?

Dajie, may be brainy is not the correct term.... dunno how to describe it.. nvm....
 
Yes, Bear, u r not seeing wrong. By TOP more or less fin paying for the flat, if u got the money. if dun hav then borrow from HDB/bank loh.
 
aeris> based on what is written, the payment is of not much diff from HDB type coz HDB, we pay directly to HDB using their loan and it spans from 20- 30 yrs depending. In this case, it is sort of either HDB/bank pays the developers 1st, then u pay them back.. duration wise, not sure..
Correct me if i'm wrong.
 
OOOH... so u can borrow from HDB to pay off everything lah.. can the initial 20% be taken from HDB? if that's the case, why have the stupid progressive payment thingy? might as wel build the flats and let HDB handle the sales! kinda dumb.. so if u borrow 90% from HDB, then shd be ok right??? pay it off by instalments at 2.6% interest?

U shd ask Tea to analyse it.. that gal is gd with figures.. hor Tea?
 
Bear, e 20% cannot borrow.... onli e balance 80%. will be a little bit different, cos when it's time to pay the next 10%, u start to pay HDB, the loan for this 10%.
 
aeris> if u take $300 000 loan, how many years are u looking at? each month paying appro?
do remember that the longer u take, the more interest u pay.. in fact, most of the pp ar paying 15 yrs of interest instead of paying the loan...
 
Oh i think u mentioned to us before right? So if the flat is 300K, the 20% initial payment would be 60k! that's quite a bit.. even if u used the HDB grant, u still need to find another 30K.

Dun quite understand the part 'when it's time to pay the next 10%, u start to pay HDB, the loan for this 10%.' u pay HDB all the 10% or instalments? can't u just borrow 80% from HDB and just pay instalments?
 
For eg, the next 10% is due to be paid (refer to progressive pymt chart), HDB will pay developer this amt on our behalf if we get the loan from them. Then we start paying back HBD by intstalments for this 10%

After that, when the next 10% needs to be paid, HDB will again pay first then we pay HDB the instalments for this new 10% loan.

However, if the 1st 10% not yet cleared, u need to pay the instalments for both.
 
After the grant n our CPF, will need to top up a bit by cash loh. still can manage the 20%

Juz found out tat if I take 15 yrs loan n 30 yrs loan, the instalment is abt e same... juz abit 20 bucks more for the 15 yrs loan!
 
Aeris, wat do u mean by pay both instalments?! let's say for the first 10% ur instalments for that is $500 a mth for a yr, then the second 10% is another $500 a mth for a yr too, does it mean that u are paying $1000 a mth?! or is it first 10% stretched over 30 yrs becomes $100, then u add the second 10% instalments, also at $100 per mth for 30 yrs so that ur mthly becomes $200 per mth for the next 30 yrs?

Shit i m confused too...
 
wah seh...all talkin abt HDB ah??? me read until blur blur wif all the interests here n there wif so many zeros... :p

dajie, so nice gg maldives...enjoy enjoy...how long will u b there? wow...didnt noe dat ur industry is so superficial...realli so difficult to get a real fren?
 
Bear it's e latter.

i.e. first 10% stretched over 30 yrs becomes $100, then u add the second 10% instalments, also at $100 per mth for 30 yrs so that ur mthly becomes $200 per mth for the next 30 yrs
 
sheryl, thx for all the list of info...
- haven confirm no. of table
- door gift done
- photo montage yes, so need to check wif PJ abt the projector
- hand bouquet this sun select
- car rental not required coz BS provide
- parents n in laws go themselves
- timing to fetch me on AD is set but no itinerary, so no need to rush for time
- food tastin done
- mum's cheongsam done last wk, in law will do her own
- no need an chuang
- helpers found

gd pt on the credit card...
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bear, aren't u glad ur boss sides wif u in times like this?
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dat chemist is such a bitch but she makes ur life in the office interestin like wat aeris said... :p bitches always hav no gd endings...hehehehe
 
Jannie i want!! u have it in wat format? DVD? VCD? VHS?! (hope not the last one) heehee... can i borrow? have been trying to get it...
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Ya i have a gd bossy though she is very naggy and can very blur at times. but she is very understanding.. in fact she is like a mum to me, advising me on marriage matter etc etc...

Aeris, i think they are asking u how much u wanna spend per mth paying the instalments, as a percentage of mthly salary.. actually pay now or pay later, u still have to pay right? so might as well pay earlier lor...
 
hihi... I'm so early today to post leh.. hehe...
Send my mum back early in the morning, so reach office also damn early.. make a blunder.. i open the office door without knowing that the security alarm is on.. hahaha... the alarm so loud that i faster go down n seek for help... hehehe...
 
Jannie.. u got all the mail that i forward to u??? i didn have many hotel package with me as most of them alr fully booked....

so when's yr AD??? glad that most of yr thing alr settled...
 
Aeris.. Dunno whether to congrats u n wx on gettin a q no. No wonder u all tokin abt hdb loan n etc. Haha. Weigh e pros n cons. See whether its worth to buy anot.

sue.. Now den i get to know ur boss wanna converts u to perm. See how much they will pay u

yeah today last day liao. So happy.. Yeah! Guess wat i using my hubby n93 n can surf net. So next x when i work night at least got somethin to play with.
 
""Your preferred percentage of gross monthly income spent on housing loan"???

they are asking for the % that is comfortable for you
to pay per month.. then from there, calculate the no of years
for e.g. both me and hb used all cpf per month for deduction.. dun forget u can't touch the special and medisave side.. so in fact not a lot per month..
some pp wanted to pay more and they top cash per month
OR they wanted to finish within certain years but CPF not enough, so they have to top up cash per month to pay the difference..

the only thing we are facing now is that after a few years, we will sort of have some cash in CPF due to bonuses.. so these $$ will rolled up and most prob we will be paying a lump sum to reduce the no of yrs.. but dunno how they are gtg to calculate... coz HPS also will reduce..
sigh..
any experts??
 
where's everyone... busy??
sigh.. anyway. gtg off soon.. when my updates are done.. dunno how long it takes..
hehehe.. gtg shopping later.. to "get rid" of my vouchers..
 
tweety, dunno how many u sent...tink got recv all...thx
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bear, me hav it in dvd...when u wan it? tink got 1 disc abit spoilt...shld b season 5 if me not wrong but still can watch ba...
 
Aeris... I just roughly read the post abt the flat that u wanna buy... I think it's abt the same as Lacasa...

Firstly u got to pay min of 5% cash, then min of 5% from CPF. The progressive payment is either from Bank or HDB, for Lacasa, HDB loan is not allow. So we get it from bank.

By TOP maybe 100% or yr case 85%? will be paid by the bank that u choose to developer. Then u will be using yr CPF to pay to the bank.

Is it how it works?? correct me if i'm wrong...
btw, is that a private property/EC or HDB??
 
gosh the part abt the loan is kinda confusing tho I deal with them everyday but its totally diff from what I do. hee! Cos my flat was bought b4 the new ruling, I will have to pay at least 20% downpayment 10% after booking and 10% after getting keys. 80% loan from HDB

Aeris> from what I gather from the diff schemes of repayment, its seems that if u where to take to 90% loan from HDB u need to split into 2 parts? 80% like all normal customers previously and 10% as another loan?

tweety> hdb dont go by TOP, they go by getting keys kekeke. For you case, its an EC so the loan will follow the pte property loan those it will only gain privatisation 5 yrs later. There is different drawdowns, depends on when the developer calls for the funds.

cacphin> u can reduce the monthly instalments or loan tenor upon doing capital/ lump sum repayment How much it will reduce depends on the loan outstanding, interest rates and which u prefer to reduce.If u have financial calculator can do an estimate. some ppl prefers to have more room in case lose job etc, so take longer loan and do lump sum when they have $. Anyway hdb interest rate is so low compared to banks, cos its only 0.1% higher than CPF rate, so we are only paying nett 0.1% if we are using CPF to pay. What we really spend on is the stamp duty and legal fees etc.

Ok I dunno what I say make sense or not, feeling sleepy after makan
 
Hello!

Wah all the financial stuff.. heehee.. read until i blur... Sue gave us a pretty clear picture... i think for Aeris, hers will be like those private developers...

Speaking of Aeris, where is she? like not online leh.. went to see her flat issit?

Jannie, i m waiting for u! heehee..
 
very nice of sue to give us a break down of the different types of loans. and the rates too hehehehe wont know so much if you did not tell us.

so many posts, i have been so busy that im hardly at my desk!!!!!
 
I'm all confused.... I called HDB and they told me actually during the showflat they got ppl there to help u cal the monthly instalments u need to pay for the progressive pkge.... but WX n I din go n ask... din noe oso...

Going down on 1 Dec to choose the unit loh.

Me busy since morning... running here n there.... cos of the yr end party i'm involved in.
 
Did a sample calculation based on my undersanding. Not sure if this is accurate or it makes sense


Assumptions:
Value of flat - 300,000
Total CPF amount in ordinary account - 40,000
Eligible for Grant - 30,000
Stamp duty - Approx 4,500

Payment Model:
1. Upon successful booking of flat
- Option Fee - 5% of 300,000 = 15,000 (must be in cash)

2. Upon signing the Sale & Purchase Agreement
- 2nd payment - 15% of 300,000 = 45,000 (can use the grant provided)
- Balance in CPF after deducting 2nd payment = (40,000 + 30,000 (grant)) - 45,000 (2nd payment) = 25,000
- Given that you have sufficient balance in your CPF account, the 15,000 option fee paid in cash can be reimbursed and paid through CPF.
- After deducting the stamp duty balance in CPF will be 5,500

Your total loan amount will be (80% of 300,000) + 600 (estimated other fees) - 5,500 (CPF balance) = ~191, 000*

For progress payment buyers will start monthly instalments payments once the HDB loan has been rebursed i.e. under each phase. Buyers will repay their loans under the Gradual Repayment Plan i.e. instalments will be based on the amount loan disbursed over the outstanding loan duration. The instalment will comprise both interest and principal amounts.

Here is the schedule of payment i got from the website: http://www.simlian.com.sg/news/Schedule of Progress Payment Model.pdf


* Note that this is subjected to conditions i.e. meeting the maximum loan amount
 
I think a rough estimation for 200k loan with HDB over 30 years the monthly instalments comes up to about 800 per month. I think in the case of progress payment there is no need to pay the 800 per month from the start. The amount will gradually increase until it hits 800 each progressive payment.

Weixiong, Aeries> Don't get too confused. When you go down to select your flat you should be able to get the staff to show you the calculations. I may be totally wrong (high probability) on the above. And that means my understanding is wrong and i'm not on the right track. Anyway wish you best of luck in your selections and hope that you get your ideal flat
 
Gd morning!

Wah DH, first thing i see in the morning is Math! see liao lagi blur.. heehee... ppl in financial line would understand wat's going on while the rest of us just pay.

Aeris, may be u can clarify ur doubts when u go and select ur flat...
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Wah!DBSS is new.It's ok not to understand.Why r they making it so complicated in the 1st place?
Can things be simplied?Geez man!

I cant even rem how much I paid for my flat etc.All I rem is I signed alot of papers at the lawyer's office.
 


No tan this time for me.It rained.Sianz!Saw a pair of baby sharks up close though.
Had Phyllis Quek in biz last nite.She was sweet & polite.

Gotta pack for my trip later tnt.
 
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