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  • P 3 New Features On HDB Flat Portal & Enhanced Resale Flat Buying Journey

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    The document describes 3 new features being introduced on the HDB Flat Portal effective May 9, 2023: 1. HDB Flat Eligibility (HFE) Letter - Integrates eligibility checks and assessments into a single application to provide an upfront evaluation of a homeseeker's eligibility for a new/resale flat, grants, and loans. 2. Integrated Loan Application Service - Allows homeseekers to apply for in-principle housing loan approvals from participating financial institutions directly on the portal. 3. Guided Journey for New HDB Flat Buyers - Streamlines the resale flat buying process from eligibility checks to completion, reducing steps from 11 to 7.

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    P 3 NEW FEATURES ON HDB FLAT PORTAL & ENHANCED RESALE FLAT BUYING JOURNEY

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    The document describes 3 new features being introduced on the HDB Flat Portal effective May 9, 2023: 1. HDB Flat Eligibility (HFE) Letter - Integrates eligibility checks and assessments into a single application to provide an upfront evaluation of a homeseeker's eligibility for a new/resale flat, grants, and loans. 2. Integrated Loan Application Service - Allows homeseekers to apply for in-principle housing loan approvals from participating financial institutions directly on the portal. 3. Guided Journey for New HDB Flat Buyers - Streamlines the resale flat buying process from eligibility checks to completion, reducing steps from 11 to 7.

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    3 views4 pages

    P 3 New Features On HDB Flat Portal & Enhanced Resale Flat Buying Journey

    Uploaded by

    charmeyan1scribd
    The document describes 3 new features being introduced on the HDB Flat Portal effective May 9, 2023: 1. HDB Flat Eligibility (HFE) Letter - Integrates eligibility checks and assessments into a single application to provide an upfront evaluation of a homeseeker's eligibility for a new/resale flat, grants, and loans. 2. Integrated Loan Application Service - Allows homeseekers to apply for in-principle housing loan approvals from participating financial institutions directly on the portal. 3. Guided Journey for New HDB Flat Buyers - Streamlines the resale flat buying process from eligibility checks to completion, reducing steps from 11 to 7.

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    of 4

    OVERVIEW OF HDB FLAT PORTAL

    BENCHMARK REALPRO PTE LTD

    1
    3 NEW FEATURES ON HDB FLAT PORTAL
    EFFECTIVE FROM 9TH MAY 2023

    1 2 3
    BENCHMARK REALPRO PTE LTD

    HDB FLAT ELIGIBILITY INTEGRATED LOAN GUIDED JOURNEY


    (HFE) LETTER APPLICATION SERVICE FOR NEW HDB FLAT
    BUYERS
    1. Integrate Different Eligibility Checks & Processes Into A Single Application
    2. Replaces HLE Letter; Provide Upfront & Holistic Assessment Of Home Seeker’s Eligibility For:
    • New and/or Resale Flat Purchase
    • CPF Housing Grants
    • HDB Housing Loan
    3. Reduces Data Entry & Document Submission With Backend Link-up With Government Databases
    4. Facilitate Informed Housing & Financing Decisions When Home Seekers
    • Apply For Flat During Sales Launch
    • Obtain OTP From Resale Flat Seller And Submit Resale Flat Application To HDB 2
    LEGEND
    ENHANCED RESALE FLAT BUYING JOURNEY
    EFFECTIVE FROM 9TH MAY 2023
    Eligibility Check
    RESALE FLAT
    Application SEARCH FOR SUITABLE FLAT

    OBTAIN HFE LETTER* WITH CONSOLIDATED


    BENCHMARK REALPRO PTE LTD

    Doc. Submission
    ELIGIBILITY ASSESSMENT
    *21 Working Days From Full Document
    OBTAIN OTP

    SUBMIT RESALE APPLICATION


    APPLY FOR IN-PRINCIPLE APPROVAL (IPA)
    To Understand Eligibility For Housing Loans From
    Participating FIs^
    (Accepts Within 28 Working Days From
    ^FIs Will Inform Applicants of The Outcome Separately
    Full Document Submission)

    ATTEND APPOINTMENT TO
    COMPLETE FLAT PURCHASE APPLY FOR LETTER OF OFFER
    (From Approved IPAs)
    (8 Weeks From HDB’s Acceptance Of To Confirm Loan Offer Through HDB Flat Portal
    Resale Application) 3
    ENHANCED RESALE FLAT BUYING JOURNEY
    EFFECTIVE FROM 9TH MAY 2023

    STEPS IN HDB RESALE PORTAL REVISED STEPS IN HDB FLAT PORTAL

    1. Register Intent To Buy 1. Preliminary HDB Flat Eligibility (HFE) Check


    BENCHMARK REALPRO PTE LTD

    2. Search For Suitable Flat And Get OTP 2. Apply For HFE Letter
    3. Choose Mode Of Financing 3. Search For Suitable Flat And Get OTP
    4. Request For Value 4. Choose Mode Of Financing
    5. Submit Resale Application 5. Request For Value
    6. Acknowledge Resale Documents 6. Convert In-principle Approval To Letter Of Offer From FIs
    7. Pay Fees (Online) 7. Submit Resale Application
    8. Approval Of Resale 8. Acknowledge Resale Documents
    9. Attend Resale Completion 9. Pay Fees (Online)
    10. Approval Of Resale
    11. Attend Resale Completion 4

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