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Yes, it is common for HDB to recognize freelance/ trade income for people who are self-employed.

Feel free to reach out so I can advise further what you may need to do.

Kay Cloud
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I believe HDB will be in a better position to answer most of your questions related to the income assessment.

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Good day to you.

The HDB Flat Eligibility process calculates your gross annual income based on a 12-month period and takes into account all sources of earned income. However, it excludes "one-time payments," such as AL encashment or retrenchment benefits, from the regular income assessment. To determine your eligibility for a housing loan, submitting your HFE application is your best bet, as there are additional factors like the Mortgage Servicing Ratio (MSR) and Total Debt Servicing Ratio (TDSR) that are challenging to evaluate through this forum.

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Here’s how HDB generally looks at this, based on past cases and HDB’s income assessment practice.

1. Freelance income (irregular amounts)
• Yes, any amount earned in a month counts as a “working month”, even small sums like $80.
• There is no minimum income threshold for a month to be considered worked.
• For freelancers/self-employed, HDB typically looks at:
• The average income over the assessment period (usually the latest 12 months), based on documents such as invoices, contracts, bank statements, and NOA (if available).
• If you earned something in a month, that month is not treated as “zero income” or unemployed.

2. Retrenchment-related payments
• Annual Leave (AL) encashment
• Generally does count as income, because it is remuneration earned from employment and reflected in payslips/IRAS records.
• Payment in Lieu of Notice (PILON)
• This usually counts as income for HDB assessment as well, since it replaces salary for the notice period.
• It is typically treated differently from retrenchment benefits or ex-gratia payments.
• Retrenchment benefits / ex-gratia payments
• These are usually not counted as income, but HDB may ask for documentation to clearly show the breakdown.

Practical tip
Ask HR for a breakdown letter clearly separating:
• Salary
• AL encashment
• PILON
• Retrenchment benefit / ex-gratia
This helps HDB assess correctly and avoids everything being lumped together as “income”.

If your case is borderline (e.g. income ceiling or loan eligibility), it’s worth submitting documents early and requesting HDB’s clarification in writing, as they do assess on a case-by-case basis. Read More

✔1 Self employed and freelance income is commonly accepted by HDB, as long as it can be properly supported with records.

✔2 Income assessment is best clarified directly with HDB, as they are the final authority on eligibility matters.

✔3 HDB reviews your gross income over a rolling 12 month period and considers all regular earned income sources.

✔4 One off receipts such as retrenchment payouts or leave encashment are not counted as income.

✔5 Submitting the HFE application is the most accurate way to assess loan eligibility.

✔6 Factors like MSR and TDSR are complex and cannot be reliably determined through online discussion alone.

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