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How to apply for HDB Loan Eligibility (HLE): your documentation checklist

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The Housing Development Board requires all Singaporeans to apply for an HDB Loan Eligibility (HLE) letter. This letter is crucial to use its affordable and greatly-beneficial HDB loan service or flexible and money-saving advantageous bank loans. You can receive an HLE letter if you’ve submitted all your documents proving your HDB property ownership eligibility.

HLE letters are essential for either property purchases from HDB or a flat resale seller. Resale purchases require a resale application, requiring virtually the same requirements as new flat loan applicants.

Once you receive your HLE letter, you only have six months until it becomes invalid, having you request the HDB for another letter. Additionally, you can use the HDB’s Online Enquiry on Loan Estimate to learn more about your preliminary home financing for accurate budgeting.

How to Get an HLE in No Time

Truthfully, you won’t need to think much about your HLE documents if you’re employed and a regular CPF contributor.  The HDB prioritizes borrowers who can show their capability to pay for their regular home loan repayments for 20-30 years. Therefore, if you’re employed and contribute frequently, you’re a priority HDB borrower.

However, it doesn’t mean individuals earning through commission, freelancing, and part-time work lack the same opportunity to receive an HLE letter. A significant fraction of employed Singaporeans can go beyond the HDB’s monthly earning maximum, disqualifying them from using the HDB’s concessionary loan service. Here is everything you need to know to get an HLE HDB quickly.

Step 1: Prepare All The Documents You’ll Need

The HDB has specific requirements for different applicant types. Here are the typical documents for employed HDB HLE letter applicants:

  • SingPass
  • Latest payslips over the previous three months
  • Recent employer’s letter certifying your job position, commencement, and salaries
  • Past CPF contributions for the past 15 months

Below, we’ll list all the HDB loan eligibility documents and other requirements for all applicants in full detail. You can refer to this list once you’re ready to apply for your HDB loan eligibility (HLE).

Once you’ve collected all the necessary documents, double-check to guarantee you have everything in a single file. Then, you can proceed with your HLE application online.

Step 2 :Apply For HLE Online

To get your loan eligibility letter application in full swing, visit the HDB’s official HLE application portal.

Your application letter only requires a brief message and your electronic signature. If you’ve prepared all the necessary documents and have sufficient internet speed, you can accomplish the online application in less than 15 minutes. On average, it takes about 30 minutes to complete. We highly advise doing it when you have time to spare.

Scan all the listed documents for your respective applicant category and save them in JPEG or PDF format. The loan eligibility HLE letter application portal can only accept up to 5MB-sized files.

Step 3: Wait For Your Application Results

The HDB concessionary loan eligibility service will review your application once it reaches their queues. On average, you can expect results within 14 days.

To learn about your HDB loan eligibility letter application’s status, visit HDB’s dedicated page for application evaluations (under application status – HLE).

Truthfully, some Singaporeans are lucky enough to receive an approval or rejection notice less than the time the HDB prescribes. However, expect your results to appear within two weeks or a bit more.

Documents Required For HLE Applications

For a comprehensive list, we’ll reiterate the employed and CPF-contributing Singaporean’s requirements along with the other documents all applicants need to submit.

You’ll find minor additional requirements for individuals with other forms of employment in Singapore. Remember, missing just one of these documents can lead to an application rejection, forcing you to go through the application process and wait much more time for your status updates.

Employed Individuals

As we mentioned earlier, employed individuals have to possess the following documents to receive HDB flat ownership eligibility:

  • SingPass
  • Latest payslips over the previous three months
  • Recent employer’s letter certifying your job position, commencement, and salaries
  • Past CPF contributions for the past 15 months

These requirements are essential for both applicants and occupiers of the HDB flat. All occupiers relying on an employed individual’s HLE status are ineligible for HLE applications until they’ve sold the property and only after 30 months of doing so.

Self-Employed Individuals

Essentially, self-employed individuals have to prove they have a Singapore-approved and registered company, have enough income to pay the full principal and interest fees entailing an HDB concessionary housing loan. By submitting all these requirements, you can get your HLE letter quickly.

  • ACRA Business Profile or
  • A valid license of business/trade
  • IRAS Latest Notice of Assessment or
  • Certified Annual Statement of Accounts from a Valid Audit Firm
  • For Applicants: 12 months worth of bank statements
  • Credit Bureau of Singapore Report

Occupiers need to submit their details only without their bank statements and credit report. The HDB assumes that occupiers will need to have the means to contribute as co-owners and payers of the HDB flat.

Commission-Based and Part-Time Workers

As we’ve mentioned in the two previous requirements, the HDB considers both applicants and occupiers as payers of the flat they’re about to own. Therefore, both parties must have the following documents:

  • 12 months payslips or commission statements
  • Alternatively, a recent employment letter of offer complete with job description and salary information.
  • Only applicants must submit the following documents to the HDB:
  • Past 15 months of CPF contribution
  • Past 12 months bank statements
  • A recent Credit Bureau Singapore report

Keep in mind the HDB still considers part-time workers with one or two occupations as is and not freelancers. It observes this perspective for both applicants and occupiers.

Odd Job/ Freelance Workers

Because of their work’s irregular income average, the HDB requires odd job and freelance workers to work with IRAS for a full assessment. Singapore’s government recognizes odd job and freelance workers similar to business but with a few limitations.

Odd job and freelance applicants and occupiers must submit the following requirements.

  • IRAS Latest Notice of Assessment
  • A recent letter from employer certifying job position and salary (odd job workers)

Applicants alone must submit the following documents :

  • Previous 15 months CPF contribution
  • Previous 12 months bank statements
  • Credit Bureau of Singapore report

Unemployed Individuals

Applicants and occupiers who recently lost their jobs still have a chance to own their flat using HDB’s services. Both will need to submit the following documents:

  • Statutory declaration declaring their employment status through a Proof of Unemployment
  • Valid Student Pass (for student occupiers only)

To increase their chances of HDB financing approval, unemployed applicants and occupiers can submit the following if they were unemployed only within the last three months before applying:

  • 3 months of payslips
  • Income proof from employer stating their gross monthly income and last day of service
  • Previous 15 months of CPF contribution

It’s Easy to File for an HLE Application If You Have All Your Requirements

Whether you’re using HDB’s in-house services or going your own way to get interest-related advantages with bank loans, you’ll need an HDB Loan Eligibility letter to finance your requirements. By collecting and scanning all the documents we’ve listed here, your application will sail smoothly once you begin.

If you choose to use banks and find it difficult to select the perfect product for your HDB financing, you can count on Loan Advisor’s advanced algorithms to find the perfect home loan for you. Visit our website today to learn more about our services and find the perfect loan.

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