INZ RESIDENCES EC LOCATED IN CHOA CHU KANG AVENUE 5
 
INZ RESIDENCE ELIGIBILITY
CALL +65 6528 0055 To Reserve Units
Or CLICK HERE To Book Appointment
- EC Eligibility
- CPF Housing Grants
- Income Guidelines & MSR Loan Calculations Table

 

EC Eligibility

 
1) Main applicant must be a Singapore Citizen and above 21 years old. Co-applicant can be a Singapore Citizen or Singapore Permanent Resident.
2) Both applicants of Inz Residence EC must be either First Timer or Second Timer (Existing Owner/Ex-Owner of HDB Flat).
3) Applicants must form a valid family nucleus to buy the EC under one of the HDB’s eligibility schemes: Public / Fiance & Fiancee / Orphan / Joint Singles (min 35 yrs old).
4) Applicants combined household gross monthly income must not exceed S$14,000.
5) Applicants and occupiers listed in the application form must not own or dispose of any private property within 30 months before the date of application and between the application date and the date of taking possession of the EC.
6) Second-timer applicants who are Existing Owner or Ex-Owner (a flat, resale flat with CPF Housing Grant, DBSS flat from developer) must meet the 5-year Minimum Occupation Period (excluding any period of subletting of whole flat) before application of a new EC.
The information provided by you in the Inz Residence Application Form and/or any forms are deemed to be true and correct. Detailed eligibility checks on the applicant and all persons listed in the application form will be conducted subsequently. All decisions made by the Developer shall be final and conclusive.

 

CPF Housing Grants
 
Applicants may apply for the following CPF Housing Grant where applicable:
1. CPF Housing Grant for Family: $20,000/$30,000
2. CPF Housing Grant for Family (Living Near Parents / Married Child): $30,000/$40,000
3. Additional CPF Housing Grant: $5,000 – $40,000
4. CPF Housing Grant for Singles: $11,000
5. CPF Housing Grant for Singles (Living with Parents): $20,000
6. Half-Housing Grant: $15,000/$20,000
7. CPF Housing Top-Up Grant (where applicable)
 
Eligibility and Terms & Conditions apply to the various CPF Housing Grants. Applicants who are eligible for the CPF Housing Grant and who wish to request for the grant must submit the Application Form for the CPF Housing Grants with supporting documents to the Developer at the point of booking of the DBSS flat.
 
For more information regarding eligibility for Executive Condominium, kindly refer to the HDB website or you can contact us and we will attend to your enquiries.

Income Guidelines

 

Employed Person

Assessment is based on average monthly gross income (excluding income earned from overtime work) which includes allowances (fixed/variable) received on a regular basis (e.g. transport, food, laundry, uniform, etc).

Documents to submit:
- Latest 3 months’ payslips i.e. month of application and preceding 2 months; or
- Letter from employer (with company stamp/letterhead, name, signature and designation of certifying officer) certifying salaries for the month of application and the preceding 2 months
 
Note :
- Notice of Assessment (NOA) from Inland Revenue Authority of Singapore (IRAS) is not acceptable for employed persons
- Bonuses will not form part of the assessment and will be excluded

Self-employed Persons

Assessment is based on the average monthly gross income for the past 12 months

Documents to submit :
- Latest NOA from IRAS or Statement of Annual Accounts certified by an Audit Firm; and
- Valid Accounting & Corporate Regulatory Authority (ACRA) Computer Information (Business Profile)/Valid license of business/trade.

Part-time Worker

Assessment is based on the average monthly gross income for the past 12 months

Documents to submit :
- Latest 12 months’ payslips; or
- Letter from employer (with company stamp/letterhead, name, signature and designation of certifying officer) certifying salaries for the last 12 months

Commission-Based Persons

Assessment is based on the average monthly gross income for the past 12 months

Documents to submit :
- Latest 12 months’ commission statements / payslips; or
- Letter from employer (with company stamp/letterhead, name, signature and designation of certifying officer) certifying salaries for the last 12 months

Odd Job Worker

Assessment is based on the average monthly gross income for the past 12 months

Documents to submit :
- Latest NOA from IRAS and
- Previous years NOA from IRAS

Unemployed Persons

Proof of unemployment
- Statutory Declaration* to declare the employment status or
- Valid Student Pass
 
*Note :
- Applicable to applicants and occupiers between 18 and 62 years old who are unemployed.
- If the applicants and occupiers are unemployed for fewer than 3 months, the average income will be computed based on the number of actual months he/she has worked.

 

Statutory Declaration may be executed at the Sales Office at HDB Hub or any HDB Branches. If you are not in Singapore, you can make the Statutory Declaration in the presence of a Commissioner for Oaths or Notary Public in the country of your stay.

 

* Above Information Is Cited From HDB Website. For More Information On Income Guidlines, Kindly Click Here To Visit The HDB Website. *

 

MSR Loan Amount Table Based On Income & Interest Rate Of 3.5%

INCOME (RANGE) LOAN AMOUNT PER TENURE (RANGE)
30 Years 27 Years 25 Years 22 Years 20 Years 17 Years 15 Years 12 Years 10 Years
$5,000 - $6,000 $334,040 To $400,850 $314,120 To $376,940 $299,620 To $359,550 $275,900 To $331,080 $258,640 To $310,360 $230,380 To $276,450 $209.820 To $251,790 $176,170 To $211,400 $151,690 To $182,020
$6,500 - $7,500 $434,250 To $501,060 $408,350 To $471,180 $389,510 To $449,440 $358,670 To $413,840 $336,230 To $387,960 $299,490 To $345,570 $272,770 To $314,730 $229,020 To $264,250 $197,190 To $227,530
$8,000 - $9,000 $534,470 To $601,280 $502,590 To $565,410 $479,400 To $539,330 $441,430 To $496,610 $413,820 To $465,550 $368,600 To $414,680 $335,720 To $377,680 $281,870 To $317,100 $242,700 To $273,040
$9,500 - $10,500 $634,680 To $701,490 $596,820 To $659,650 $569,290 To $629,210 $524,200 To $579,380 $491,420 To $543,140 $437,720 To $483,800 $398,670 To $440,630 $334,720 To $369,950 $288,210 To $318,550
$11,000 - $12,000 $734,890 To $801,700 $691,060 To $753,880 $659,180 To $719,100 $606,970 To $662,150 $569,000 To $620,730 $506,830 To $552,910 $461,610 To $503,580 $387,570 To $422,810 $333,720 To $364,030

* Disclaimer : The table above is for reference only and actual loan amount will depends on Monetary Authority Of Singapore (MAS)'s Regulations. *

 

 

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