While I was looking through my Facebook news feed last week, I came across a feed by someone who said he bought a $400K+ 5 room HDB flat only to find that he was only eligible for a loan of $200K+. The thought of coming up with $200K+ of cash is scary for any young couples who will be getting the keys to their HDB flat soon. So why was the loan eligibility so low? The answer: "both husband and wife are self employed." Being a self employed, it can be harder to prove the income that you receive thus affecting your loan eligibility. We'll discuss more on the situation and what we can do to overcome it. Process of applying for loan from HDB Before we dive deeper into the situation of the self employed couple who didn't manage to secure a full loan, let's look at the ......