HDB 20 September 2017 First and foremost... CONGRATULATIONS for getting a ballot number! It's important to celebrate every little milestones especially if this is gonna be your love nest! However, do to take note, if you gotten a ballot number that is far away from the supplied flats, you might not get a chance to choose an unit at all. Anyway, long story short, just a few important points you need to take note. HDB will keep you updated should your ballot number is not within the number of flats supplied.On the day of flat selection, you will need to make a decision on the spot. So it is wise to shortlist at least 10 units of your choice.Lastly, you will need to pay Option Fee & Down-Payment, should you decide to take an unit. Option Fee(A fee to indicate that you have intention to buy the unit):You have to pay this in CASH.It ranges from $500 to $2,000, depends on the size of your flatThe option fee will be refunded back to you in cash, if there is enough money to deduct the downpayment from your OA account.Down-Payment10% downpayment if you are taking a HDB Loan (Can be paid fully by your CPF)20% downpayment if you are taking a Bank Loan (Only 15% can be paid by your CPF. The remaining 5% to be paid by cash)If you are wondering, what if my CPF does not have sufficient money?You will still get to hold on to your flat as long as you pay the option fee in cash. HDB will then wipe off whatever you have in your CPF OA account.Those who are taking bank loan, this does not apply to you. You will still have to pay the 5% downpayment in cash.Before you take you keys…You have to apply for the HLE Letter again. Why so? This is to re-calculate your loan amount in case there are some changes to your financial status (Eg, high salary will entitled you with higher loan.) The second HLE Letter will be the final loan that you can get from HDB or the banks.Your CPF will be fully wipe off again before you can collect your keys. Why so? To reduce the amount of money you loan from HDB or the banks, so that you do not need to pay so much every month, plus you can finish paying earlier, plus you do not need to pay HDB or bank so much interest.