Please note that the CPF Board requires proof of relationship if you buy residential properties in joint names. Permanent Residents are now limited to one Singapore dollar loan each to purchase a residential property for owner-occupation only. Foreigners who are not Permanent Residents, and non-Singapore companies, can no longer be granted Singapore dollar loans to purchase residential properties. HDB's Mortgage loan HDB will provide mortgage loans to buyers of HDB flats who are able to meet HDB's mortgage loan criteria. After making your CPF application, see your Banker.
Banks have different loan policies.
You should therefore confirm with your bank the actual amount that it is prepared to lend you. At the same time you should be aware of the other terms in the Bank's letter of offer. The option gives you the sole right for a limited period, usually 2 weeks, to buy the house. Before paying the option fee, you should seek your lawyer's advice on the terms of the option. At the same time you must sign and return the option to the seller.