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var ArrayAns = new Array();

ArrayQn[0] = 'What is a Revolving Loan facility?'
ArrayAns[0] = 'It is a facility whereby you can make withdrawals as and when you need the money. Interest is only charged on the amount of loan used and for the number of days used.'


ArrayQn[1] = 'How much loan will I qualify?'
ArrayAns[1] = 'For purchasing of private residential property, you can loan up to 80% of the Purchase Price or value of the property, whichever is lower if you do not have any outstanding housing loans and this includes CPF savings to be used. If you have one or more outstanding housing loans at the time of loan application, you can only loan up to 70% of the Purchase Price or value of the property, whichever is lower and this includes utilisation of CPF savings. Your maximum loan entitlement also depends on your income as your monthly instalment shall constitute not more than 33% of your monthly income.'


ArrayQn[2] = 'Can I use CPF savings?'
ArrayAns[2] = 'Yes, you can use CPF savings towards the purchase of the property, payment for stamp duty, legal fees and repayment of monthly instalment of the loan.'


ArrayQn[3] = 'If I am a Singapore Permanent Resident or Foreigner, would I qualify?'
ArrayAns[3] = 'Yes, following the relaxation of the housing loan guidelines, there is no restriction when you take up a housing loan. However, the financing limit is subject to our credit assessment.'


ArrayQn[4] = 'What is the minimum downpayment?'
ArrayAns[4] = 'The minimum downpayment is 10% of the purchase price, of which 5% must be paid in cash and the balance can be from your CPF savings if you do not have any outstanding housing loans. However, you have to make cash payment of at least 10% of the valuation limit if you have one or more outstanding housing loans at time of applying for a housing loan.'


ArrayQn[5] = 'What are the documents that I need to submit?'
ArrayAns[5] = 'If you are a <u>salaried worker</u>, we require you to submit your latest CPF Contribution History Statement or tax assessment.<p>If you are <u>self-employed</u>, we require you to submit your last 2 years tax assessment.<p>If you make a <u>purchase</u>, we require you to submit a copy of the Option to Purchase or a copy of the Sales & Purchase Agreement.<p>If you are seeking <u>refinancing</u>, we require you to submit the latest statement of account showing the outstanding loan with your existing banker.<p>If you intend to <u>use your CPF savings</u>, we require you to submit a copy of your latest CPF statement of account.'

ArrayQn[6] = 'I already have a housing loan, can I increase my loan?'
ArrayAns[6] = 'Yes, you may and it is subject to your existing loan exposure inclusive of CPF contribution.'


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