ETOPs is correct. You can use the housing allowance for mortgage capacity calculations. Most reputable lending houses in HK are aware of the CX situation and how to make it work.
BUT!
What idiot of a financial advisor or applicant would not read the FINE PRINT of the HKPLA and housing allowance to see that both are taxable, hence the need to consider the net figure. But most importantly the housing allowance IS NOT factored to CPI and housing cost fluctuations which only seem to go in one direction: a massive 22% increase recently. So that $10k HKD per month, less (say) 15% tax since it is deemed "income" while charged against a mortgage, and then is worth 22% less (from the latest figure) from the year before. Let's multiple that loss in real terms over the length of a mortgage? That $36k you get after gaining a Cmd could / would more than likely be worth less than the original $10k you started with!!!!!!!!!
Yeah, you guys have really done your homework and see the BIG PICTURE and take into ALL logical considerations. We laugh and mock the idiots who fall for internet scams offering stupid investment opportunities yet when it comes to this iCadet sham you fail to do any resemblance of due diligence into an entire career-based decision. Oooo! But it's "FREE!!" If it's too good to be true? Oh, that doesn't apply here of course..... because CX have such a long & illustrious history of upfront, honest and moral dealings with the pilot body.
It's a scam and a slap in any professional pilot's face. Pure and simple.