Being a Singaporean above at/above 35 years old. You are eligible for any resale HDB flat.
You may apply using Single Singapore Citizen Scheme or Non-Citizen Family Scheme if you have a foreigner spouse.
You must be a first-timer applicant, meaning;
- Not owner or essential occupier of a flat bought from HDB, or EC/DBSS from developer.
- Not sold a flat bought from HDB or an EC/DBSS from developer.
- Not received any CPF Housing Grant for the purchase of an HDB flat.
- Not received any form of housing subsidy; benefit from SERS, HUDC estate privatisation.
Average gross monthly household income:
(a) <$6,000 if buying a resale flat under Single Singapore Citizen Scheme
(b) <$12,000 if buying a resale flat under other schemes.
(1) Flat type: Your choice is not limited by rules andd regulation, but on finance limitation.
As qualification of loan amount is determine by MSR (Mortgage Servicing Ratio), in short, only 30% of your monthly pay is recommended to service monthly mortgage loan.
(a) You are entitled to Single Grant if you meet the following conditions:
- $25,000 for 4-room or smaller resale flat
- $20,000 for 5-room resale flat
(b) Additional Housing Grant if your household income less than $2,500/month
(c) Proximity Grant (S$10k) if your parents are included as co-applicants or occupiers (SC or SPR).
Take note of the "gross monthly income", if your income exceed the requirement implying that you are:
- Not eligible for HDB loan, but you may take up bank loan.
- Not eligible for any grant, except proximity grant (S$10k) if your parents are included as co-applicants or occupiers (SC or SPR).
(3) Cash component are as follow:
(a) OTP deposit & exercising
(b) Resale application
(c) Registration & microfilming
(f) Misc fee
(g) Fire insurance
(h) Sales person commission
Provided your CPF OA is sufficient to pay the following, otherwise you have to pay them in cash:
(a) 10% of purchase
(b) Basic stamp duty
(c) Legal fee
(d) Mortgage stamp dduty
(e) Home protection scheme
(4) Every SC is eligible to apply for HDB loan twice in their life time.
Advantage of using HDB loan is, it allow minimum cash to purchase a home.
You also have to understand your rights as a Single Singapore Citizen, you are eligible to apply for 2-room flexi BTO.
Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636, or email: firstname.lastname@example.org if more information is needed.
I'll be glad to assist.
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