Tan Kiat How on information needed for housing loan application
The Housing and Development Board (HDB) conducts credit assessments to gauge the financial ability of loan applicants to service their monthly mortgage instalments, based on their income. The assessment is carried out when they apply for the HDB Flat Eligibility letter, which is based on their average monthly income over a period of 12 months. All applicants have to provide their CPF contribution history and latest Notice of Assessment for income tax. Senior Minister of State for National Development Tan Kiat How said this in reply to an MP’s question in Parliament on Wednesday (Apr 3).
The Housing and Development Board (HDB) conducts credit assessments to gauge the financial ability of loan applicants to service their monthly mortgage instalments, based on their income. The assessment is carried out when they apply for the HDB Flat Eligibility letter, which is based on their average monthly income over a period of 12 months. All applicants have to provide their CPF contribution history and latest Notice of Assessment for income tax. Senior Minister of State for National Development Tan Kiat How said this in reply to an MP’s question in Parliament on Wednesday (Apr 3).
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