listen, New flats affordable for most buyers, says Mah Boh Tan

[dankos]

Flat price s$278,000 (average four-room flat price in 2010)
Income s$4,200 (median for four-room applicants in 2010)
Downpayment due at signing
5% x s$278,000 = s$13,900
(Staggered Downpayment Scheme for couple under 30)CPF Housing Grant s$10,000 (Additional CPF Housing Grant)Balance of downpayment (s$13,900 - s$10,000 = s$3,900)
CPF savings s$4,200 x 23% OA contribution = s$966 a month
Time taken to save through CPF OAs$3,900 / s$966 = 4 months
Loan quantum s$278,000 x 90% Loan to Value (LT V) = s$250,200
Monthly mortgage s$1,002 (90% LT V, 30 year loan, concessionary rate 2.6%)
Cash outlay s$1,002 - s$966 = s$36 a month

today he 'explained' how he got the figures. must be a lot of ppl realised his initial claim dun add up so he quickly ask his hdb scholars to help him. So to pay the initial deposit, u need to qualify for $10k additional cpf housing grant. not only that u need to qualify for 'staggerred downpayment scheme for couples under 30' (1st time hear of this scheme) so that u can pay 5% deposit instead of 10%.

wow lan ooi like that also can. and also the whole assumption is based on 2010 4 room flat prices. according to 'today', 4 room flat is now at S$248,000 to S$390,000 price range for BTO.

 

[Papsmearer]

Flat price s$278,000 (average four-room flat price in 2010)
Income s$4,200 (median for four-room applicants in 2010)
Downpayment due at signing
5% x s$278,000 = s$13,900
(Staggered Downpayment Scheme for couple under 30)CPF Housing Grant s$10,000 (Additional CPF Housing Grant)Balance of downpayment (s$13,900 - s$10,000 = s$3,900)
CPF savings s$4,200 x 23% OA contribution = s$966 a month
Time taken to save through CPF OAs$3,900 / s$966 = 4 months
Loan quantum s$278,000 x 90% Loan to Value (LT V) = s$250,200
Monthly mortgage s$1,002 (90% LT V, 30 year loan, concessionary rate 2.6%)
Cash outlay s$1,002 - s$966 = s$36 a month

today he 'explained' how he got the figures. must be a lot of ppl realised his initial claim dun add up so he quickly ask his hdb scholars to help him. So to pay the initial deposit, u need to qualify for $10k additional cpf housing grant. not only that u need to qualify for 'staggerred downpayment scheme for couples under 30' (1st time hear of this scheme) so that u can pay 5% deposit instead of 10%.


wow lan ooi like that also can. and also the whole assumption is based on 2010 4 room flat prices. according to 'today', 4 room flat is now at S$248,000 to S$390,000 price range for BTO.

Wah lan, like that MBT cares to explain exactly how many people succeeded in getting both the CPF housing grant and staggered down payment scheme at the same time? I will be surprised if his scenario applies to even 5% of the total buyers? In the first place, can find $278K flat so easy or not? If the range is from $248K to $390K, should MBT not be using the average price i.e. $248K + $390K /2 = $319K. Also, save 4 months fro CPF down payment, no need to pay for lawyer fees, and other closing costs?

 

[tonychat]

prepare to lose lah , talk so much.

 

[dankos]

Wah lan, like that MBT cares to explain exactly how many people succeeded in getting both the CPF housing grant and staggered down payment scheme at the same time? I will be surprised if his scenario applies to even 5% of the total buyers? In the first place, can find $278K flat so easy or not? If the range is from $248K to $390K, should MBT not be using the average price i.e. $248K + $390K /2 = $319K. Also, save 4 months fro CPF down payment, no need to pay for lawyer fees, and other closing costs?

oh yeah bro, also got to pay stamp fees. they also conveniently left that out.

 

[prinzy]

MBT IS TALKING COCK AGAIN. We want to see the cost and selling price of the flats and not telling us you pay 5% deposit and 95% loan and it is affordable. Really? We want to know how much profit is HDB making and stop bluffing us that the flat is being subsidised and HDB is losing Billions on these subsidies. Stop side tracking and proof to us that the flats are really subsidised. If you can do that, I will vote for you. If not..... what would you expect me to do? Just believe in these bullshit?

 

[cooleo]

"All u cheebyes listen up, now i build new shitholes for u all to buy liao. Better vote for me, or else after election, i will slap u all hard!"

 

[Sperminator]

Mah Bow Tan can say what he wants now, just keep everything simple, VOTE HIM OUT. VOTE FOR OPPOSITION. Show him that Singaporeans are a united bunch, and we are not daft, not stupid, not lesser beings... This is too much. Do not be fooled again!

 

[ah_phah]

if this horse face joker continues his services for the next term, we will see that our beaches & Changi Airport T1, 2 & 3 will be very vibrant. many ppl w/ no place to live will flock there.

 

[Gunner20]

CCB that Mah is worst then a gay...