Q2. Am I eligible?
Q3. What is the maximum loan repayment period?
- Applicant(s) must be between the ages of 21 and 65
- Singapore Citizens, Permanent Residents and foreigners may apply
Q4. How do I repay my loan?
- Freehold Property
Up to 35 years or 75 years of age, whichever is earlier. For example, if you are 25 years old now and buying a freehold property, the maximum loan period is 35 years. The loan duration plus the age of the applicant must be less than or equal to 75 years.
- Leasehold Property
Up to 35 years or 75 years of age at end of loan tenor, whichever is earlier, and remaining lease of at least 35 years at the end of loan tenor.
Q5. Can I use my CPF savings to repay my monthly instalments?
- If your property is under construction, you can opt to pay your instalments based on the disbursed loan amount until the Temporary Occupation Permit (TOP) is issued. Thereafter, the instalments will be calculated based on the outstanding plus undisbursed loan amount over the outstanding loan duration.
If you buy a completed property, full instalments will be payable upon the drawdown of the loan and the instalments calculated are based on the full loan amount.
Q6. Where can I find out more about how to use my CPF savings?
Q7. What are the documents required for a Home Loan application?
- Yes. However, for properties with a remaining lease of less than 30 years, CPF members are not allowed to use their CPF savings to service the monthly instalments or make direct payment to the property developer/vendor to buy a residential property.
Q8. What happens if there is a difference between the purchase price and valuation?
- Completed duly signed UOB Property Loan Application Form
- Copy of NRIC/Passport of applicants
- Income documents:
- Latest computerised payslip/IR8A
- Two yearsâ€™ tax return (for self-employed applicants)
- Two yearsâ€™ commission statement (for commission based applicants)
- Option to purchase
- Latest CPF statement of account (if CPF usage is involved)
- Latest CPF withdrawal statement for existing property (if applicable)
- Option of sale for existing property (if applicable)
Q9. Is fire insurance necessary?
- Prior to the approval of your home loan application, we will appoint a valuer to assess the market value of the property. If this valuation is lower than your purchase price, you would have to pay the difference in cash before any loan can be disbursed.
- Yes. Fire insurance is required by the Bank to insure your property against fire.