Info on Grants/Subsidies Available For First Timer

[nutnutde]

Hi I am considering applying for an HDB flat with my bf. Was looking at the hdb website for info on subsidies for first timer. Was looking high and low but cldn't find the necessary links for it. Maybe my phrasing it was wrong. Stuff I like to know is if you like near parents how much subsidy or ' discount ' you get or first time applicant is it $20 000 subsidy etc.

Plaese don't flame me if this topic has oft been brought up. I have tried lookinf info for it but to no avail. Will some kind soul point me in the right direction or share info with me ?

Greatly appreciated.

 

[kebinu]

stay near parents 40k
first time 30k

or vice versa or amt is wrong

only for resales

can get ahg up to 40k for bto/resales

 

[yeowenzheng]

believe all info is in the below link

http://www.hdb.gov.sg/fi10/fi10201p...OpenDocument&SubMenu=CPF_Housing_Grant_Scheme

 

[xjasonz]

if you and your fiance decide to get a RESALE, then your are eligible for $30k grant for first timers, $10k grant. if you stay near parents, AHG of up to $40k

total of potential $80k if you decide to get a HDB resale.

if you and yr fiance decide to get a BRAND NEW/DBSS hdb, the grant you are eligible for are only stay near parents which is $10k and AHG of potential $40k.

total potential of up to $50k if you decide to get a brand new/dbss

some T&C for additional housing grant(AHG):

average family income less than $1500 ---- $40,000
$1501 to $2000 - $35000
$2001 to $2500 - $30000
$2501 to $3000 - $25000
$3001 to $3500 - $20000
$3501 to $4000 - $15000
$4001 to $4500 - $10000
$4501 to $5000 - $5000

*At least one of the flat buyers must have
worked continuously for at least 1 year before the Resale Flat Application

*Average monthly household income over the 1-year period must not exceed $5,000

 

[kolezlaw]

Hmm.. i think HDB increased the grant for the basic family to 40k and the higher-tier (stay near parent/married child) is now 50k already.

Don't worry.. can ask hdb one.

Anyone are you buying straight from HDB? or from open market?

 

[alamak]

Hmm.. i think HDB increased the grant for the basic family to 40k and the higher-tier (stay near parent/married child) is now 50k already.

Don't worry.. can ask hdb one.

Anyone are you buying straight from HDB? or from open market?

that one is inclusive of ahg. basic grant for resale is only 30k/40k(near parents)

so many pple got mixed up saying now got 40/50k grant.

 

[vinz]

Please note that there are basically 3 things which you have to take note if you are getting a brand new flat or a resale flat.

1) HDB loan - Can be use for Brand new and Resale flat (if buyer is eligible) , the most important criteria is that combined monthly income must not be more than $12k

Please click : HDB loan eligibility check

2) Find out the grant you are eligible for as first timer.

Pls click : CPF Housing Grants for Resale Flats

Additional grant for staying near parents : Proximity grant

___________________________________________

Most buyers will fit under one of the below:

1) Buy brand new, get HDB loan, (if combined family income less than 12k)

2) Buy brand new, get HDB loan, get AHG (if income less than 5k)

3) Buy resale flat, get HDB loan, get 1st timer grant (if income more than 5k, but less than 12k)

4) Buy resale flat, get HDB loan, get 1st timer grant, get AHG (if income less than 5k)

___________________________________________

NOTE : More than 12k monthly income = Not eligible for HDB loan (Bank loan only), not eligible for brand new flat, not eligible for 1st timer grant, and of course not eligible for AHG.

vinz

 

[palmero2009]

Please note that there are basically 3 things which you have to take note if you are getting a brand new flat or a resale flat.

1) HDB loan - Can be use for Brand new and Resale flat (if buyer is eligible) , the most important criteria is that combined monthly income must not be more than $8k

Please click : Eligibility Conditions for Housing Loans from HDB



2) CPF 1st timer housing grant - ONLY FOR RESALE FLAT (Brand new flat buyers can stop enquiring about this). The most important criteria is that combined monthly income must not be more than $8k.

Brand new flat no grant. The so called "cheaper prices than market resale flats" is the subsidy which HDB is giving to all brand new flat buyer..

Please click : CPF 1st timer grant and Near parent grant



3) AHG (Additional Housing Grant) - Can be use for Brand new and Resale flat (if buyer is eligible) , the most important criteria is that combined monthly income must not be more than $5k for the past 1yr.

Please click : Additional Housing Grant



___________________________________________

Most buyers will fit under one of the below:

1) Buy brand new, get HDB loan, (if income more than 5k, but less than 8k)

2) Buy brand new, get HDB loan, get AHG (if income less than 5k)

3) Buy resale flat, get HDB loan, get 1st timer grant (if income more than 5k, but less than 8k)

4) Buy resale flat, get HDB loan, get 1st timer grant, get AHG (if income less than 5k)

___________________________________________

NOTE : More than 8k monthly income = Not eligible for HDB loan (Bank loan only), not eligible for brand new flat, not eligible for 1st timer grant, and of course not eligible for AHG.

vinz

Moderator please put this as sticky.
This info is useful.

 

[asjtan83]

if you and your fiance decide to get a RESALE, then your are eligible for $30k grant for first timers, $10k grant. if you stay near parents, AHG of up to $40k

total of potential $80k if you decide to get a HDB resale.

if you and yr fiance decide to get a BRAND NEW/DBSS hdb, the grant you are eligible for are only stay near parents which is $10k and AHG of potential $40k.

total potential of up to $50k if you decide to get a brand new/dbss

some T&C for additional housing grant(AHG):

average family income less than $1500 ---- $40,000
$1501 to $2000 - $35000
$2001 to $2500 - $30000
$2501 to $3000 - $25000
$3001 to $3500 - $20000
$3501 to $4000 - $15000
$4001 to $4500 - $10000
$4501 to $5000 - $5000

*At least one of the flat buyers must have
worked continuously for at least 1 year before the Resale Flat Application

*Average monthly household income over the 1-year period must not exceed $5,000

i thought one will also get the first timer grant if one buys a brand new DBSS?

 

[little_prince]

this is a useful thread...

 

[Lancelot]

Thread made as sticky. Any idea on the thread title?

 

[nutnutde]

Thanks all for the helpful answers cos many of my frds have been giving me conflicting answers here and there.

I am considering applying for a flat during the HDB Half Yearly Sale. I saw some ' re-purchased ' flats on the website. The flats have been occupied before. I am considering how did the flats get ' re-purchased ' by the HDB in the 1st place ? Anyone wld have sold it on the open market instead of selling back to HDB rite ? Cld it be the previous flat owners have defaulted on payments , financial difficulties ? If it's so , won't purchasing these flats be a risk of having loan sharks ? Or maybe the previous owners are dead ? Excuse me if my thoughts run a bit wild but I want a home whereby I can live in peace instead of appearing on Wan Bao .

 

[nutnutde]

Thread made as sticky. Any idea on the thread title?

How abt ' Info on Grants / Subsidies Available For First Timer ' ?

 

[yeowenzheng]

Thanks all for the helpful answers cos many of my frds have been giving me conflicting answers here and there.

I am considering applying for a flat during the HDB Half Yearly Sale. I saw some ' re-purchased ' flats on the website. The flats have been occupied before. I am considering how did the flats get ' re-purchased ' by the HDB in the 1st place ? Anyone wld have sold it on the open market instead of selling back to HDB rite ? Cld it be the previous flat owners have defaulted on payments , financial difficulties ? If it's so , won't purchasing these flats be a risk of having loan sharks ? Or maybe the previous owners are dead ? Excuse me if my thoughts run a bit wild but I want a home whereby I can live in peace instead of appearing on Wan Bao .

in order to resale a flat in open market, the owner must have occupied for at least 5yrs.

if less den 5 yrs and owner die die wanna get rid of it, hdb is the only choice he could opt for. But as you may note the remark from HDB, the repurchased flat could have been occupied previously or could be empty till now from the commencement of the lease date. i believe you could check it out from the neighbours of the unit you aiming. haha

btw those repurchase flat you cant get cpf grant except AHG, you can try to compare the pricing from the half yearly sale of those repurchase flats after deducting AHG and those resale in the open market after deducting AHG + CPF housing grant for first timer applicant.

 

[MasK]

I got a question regarding grants:

Is the grant used to reduce your CPF loan ONLY or reduce the total amount needed to buy a flat?

1) For example.. If I'm ELIGIBLE for 300K loan, and 50K grants, Does it mean that HDB cut off 50K from the loan amount (meaning 250K loan) and I pay cash for the rest?

OR

2) The grant amount (50K) is deducted off the total sale price of the flat and you can still take up 300K loan.

Another way of understanding my question is:
If the flat costs 400K, Can I use 50K cash, 50K grant and 300K loan?
Or will HDB force me to use the grant as part o the loan, ie. 100K cash and 250K loan (50K granted)?

I hope ya guys understand ma question.. cheers.

 

[yeowenzheng]

I got a question regarding grants:

Is the grant used to reduce your CPF loan ONLY or reduce the total amount needed to buy a flat?

1) For example.. If I'm ELIGIBLE for 300K loan, and 50K grants, Does it mean that HDB cut off 50K from the loan amount (meaning 250K loan) and I pay cash for the rest?

OR

2) The grant amount (50K) is deducted off the total sale price of the flat and you can still take up 300K loan.

Another way of understanding my question is:
If the flat costs 400K, Can I use 50K cash, 50K grant and 300K loan?
Or will HDB force me to use the grant as part o the loan, ie. 100K cash and 250K loan (50K granted)?

I hope ya guys understand ma question.. cheers.

if you are eligible for 300k loan, and you can get 50k grant, meaning you can afford to buy a 350k flat, should be no.2 of your ans

the CPF housing grant could be use for the initial 10% payment and if there's left over it will be used to deduct the remaining value of the flat, the grant cannot be use for the amount of cash-over-valuation, that COV must use cash...so if you can better buy resale flat at its valuation price

if the grant is not enuff for the initial payment you can use you CPF to top up the rest, if cpf also not enuff den you can use cash.

anyway the grant will be utilized fully for the initial payment or deducting the remaining value of the flat after the 10% initial payment, by right you should not have any grant leftover

if you had alot of cash, you can jolly well use it to buy your flat so you can loan minimum sum from HDB and mthly installment should try to be within your CPF mthly contribution

 

[MasK]

yeowenzheng,

Thanks for the explanation. Fully understood.

 

[nutnutde]

in order to resale a flat in open market, the owner must have occupied for at least 5yrs.

if less den 5 yrs and owner die die wanna get rid of it, hdb is the only choice he could opt for. But as you may note the remark from HDB, the repurchased flat could have been occupied previously or could be empty till now from the commencement of the lease date. i believe you could check it out from the neighbours of the unit you aiming. haha

btw those repurchase flat you cant get cpf grant except AHG, you can try to compare the pricing from the half yearly sale of those repurchase flats after deducting AHG and those resale in the open market after deducting AHG + CPF housing grant for first timer applicant.

Thanks a zillion for your explaination , it certainly cleared up some doubts .

 

[yeowenzheng]

nutnudge and mask you are both most welcome, as i'm also currently lookin for my future ideal home thus some research was done haha

let's wish each other to get our ideal home soon~!

 

[nutnutde]

nutnudge and mask you are both most welcome, as i'm also currently lookin for my future ideal home thus some research was done haha

let's wish each other to get our ideal home soon~!

Good luck , all of us need a bit of that