Explain the criteria for taking a housing loan. Explain the criteria for using CPF savings and housing grants for a home purchase: Property Management Assignment, NUS, Singapore

• Explain the criteria for taking a housing loan.
• Explain the criteria for using CPF savings and housing grants for a home purchase.
• Analyse clients’ housing loans and how they can be financially prudent.
• Explain the impact of a client’s financial standing when taking a housing loan.

The couple has the following requirements:

1. They are looking for a condominium unit of 90-120 square meters. It must be affordable and within their financial means, after taking into consideration the loan policies and requirements.
2. As they intend to start a family in a couple of years, the flat must have at least 2 bedrooms as they wish to have a room for their child.
3. If possible, they wish to be near Cheryl’s parents who are staying in Paya Lebar. They have heard from their parents that the government is giving housing grants to first-timers and they wish to apply for grants.
4. They prefer a flat that is less than 15 years old.