2018 Ultimate BTO Guide: Part 3 – Balloting & Flat Selection

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BTO Guide HDB Build To Order Flats Style Degree Sg Singapore
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Done your research and feel that the time is ripe to submit a BTO application? Follow us through this post to ensure that your application goes through as smooth as butter!


This post is a member of our 6-part series – View our complete guide below!

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Preparation Stage:

  • Part 1 > Research: Eligibility & Location
  • Part 2 > Financing: Grants & Loans

Action Stage:

  • Part 3 > The Application: Balloting & Flat Selection
  • Part 4 > The First Look: Key Collection

Pre Move-in Stage:

  • Part 5 > Defects Inspection: Things To Look Out For
  • Part 6 > Home Improvements: Interior Design & Home Must-Haves

1. Putting in a ballot

From Part 1 of this series, you should have researched on the best locations available for the upcoming launch.

Once you have made your pick, be sure to check HDB InfoWeb constantly to be updated on the opening date of the application window.

The window only lasts 6-7 days and you may place your ballot via their website. It costs $10 to place a ballot.

HDB usually post an official press release during this window which has all the details you need. View an example here.

So what are your chance of a successful ballot? Well, first-time applicants with children and parents living together will have higher chance of success.

Nevertheless, don’t be too disappointed if you don’t get it on your first try – we know applicants who are successful after their second or third tries. As the saying goes, “good things must wait” 🙂

 

2. Finalise Loan

Once you got a successful ballot, HOORAY! You may thank your lucky stars and head out to buy TOTO.

Afterwards, it’s time to finalise your loan option. As mention in our previous post, there are 2 choices: a HDB loan or a bank loan.

If you are taking a HDB loan, simply double check your eligibility and submit your application on HDB’s Housing Loan Webpage. Once done, you should end up with a HDB Loan Eligibility letter (HLE).

For a bank loan, head down to the bank, talk to them and they will provide you an Approval in Principle (AIP) document which determines which much the bank is willing to loan you for the flat.

Whether you are taking a HDB or bank loan, remember to bring the appropriate documents for the flat selection stage!

 

3. Flat Selection

At this stage, you should be allocated a queue number. Pray hard that your queue number is as small as possible – it means that you are given priority when selecting a flat.

Once you are successful, HDB will require you to head down to HDB hub with the following documents:

  1. NRIC
  2. Income documents
  3. HLE or AIP paperwork

Also, don’t forget to come prepared with the funds required for the option fee:

  • 2-Room flat: $500
  • 3-Room flat: $1,000
  • 4/5 Room flat: $2,000

Lastly, remember to apply and submit your CPF housing grants as discussed in Part 2! Download the form here.

 

4. Lease Agreement & Downpayment 

After reading Part 2 of this series, you should have made up of your mind on whether to take up a HDB or a bank loan.

Once again, remember that HDB allows you to loan up to 90% while banks would only loan you up to 80% of your home value. Besides, HDB loans entitles you to use your CPF to fully offset the downpayment (up to 10% of the home value).

 

BTO Guide Downpayment Schemes Style Degree Sg Singapore

 

Whether you are taking up a HDB or a bank loan, remember to sign the lease agreement within 4 months of booking a flat. Make sure that your loan documents are finalised by then as well.

 

5. Legal Fees and Stamp Duties

Finally.. The last of the fees are here! The good thing is you are able to pay your legal fees and stamp duties with either cash or CPF:

BTO Guide Downpayment Schemes Style Degree Sg Singapore

 

6. Key & Flat Collection

Now, all you got to do is sit back, relax and wait for a notification from HDB to collect your flat!

This bring us to Part 4 of this BTO guide where we discuss everything you need to prepare when collecting your new home.


This post is a member of our 6-part series – View our complete guide below!

Preparation Stage:

  • Part 1 > Research: Eligibility & Location
  • Part 2 > Financing: Grants & Loans

Action Stage:

  • Part 3 > The Application: Balloting & Flat Selection
  • Part 4 > The First Look: Key Collection

Pre Move-in Stage:

  • Part 5 > Defects Inspection: Things To Look Out For
  • Part 6 > Home Improvements: Interior Design & Home Must-Haves
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