Info on Grants/Subsidies Available For First Timer

[kingkongikiss]

hi will like to ask if there any down payment for a new bto? what the total cost for first bto paper work everything + down payment, and when to pay?

also if someone remove name from a hdb flat as owner to buy a new bto hdb , will it count as first time or 2nd time? i have not buy any flat from hdb direct...

 

[vuzuuu]

Hi, wondering how much subsidy would I be benefited from the G if I alone purchasing HDB 3rooms flat?? Thanks.

 

[newcastlefan]

Hi Guys,

Need some help on what are grant i can get if i apply for a BTO flat?

Btw, my wife is a PR and our combine income is less then $5k.

 

[Mr.Canberra]

CPF Housing Grants

Let's say I'm eligible for the following grants as per HDB's terms and conditions.

• Additional CPF Housing Grant (Singles) S$20,000
• Special CPF Housing Grant (Singles) S$10,000

I'll not be taking any HDB or Bank Loan for my BTO 2 Room Flat. I know I can use cold hard cash to pay for downpayment (10%) during Signing Sales Agreement and balance payment (90%) during Collection of keys. I'll use cash to pay for Stamp duty and Legal fees as well.

Will HDB allow me not to exercise the usage of the grants and be kept in my CPF Ordinary Account along with my existing CPF funds?

My logic is I do not wish to pay the accrued compounded interest (doesn't make sense) to my own CPF Account should I need to sell the flat in the future.

Use of Grant

The AHG can only be used as capital payment towards the purchase of the new flat or to reduce the mortgage loan. You can use the grant to make the initial payment towards the purchase. The balance, if any, must be used to reduce the mortgage loan before a housing loan from the HDB is granted.

Benefits of AHG
AHG helps to reduce the loan required
No need to use cash to pay the monthly instalment

If you are buying the flat with a bank loan, the AHG will be treated as part of your CPF money. It can only be used to pay the CPF portion of the initial payment towards the purchase of the flat or to reduce the mortgage loan. It will be included in the computation of the CPF withdrawal limit. The Grant cannot be used to pay the monthly instalments.

Use of Grant

The SHG can only be used as capital payment towards the purchase of the new flat or to reduce the mortgage loan. You can use the grant to make the initial payment towards the purchase. The balance, if any, must be used to reduce the mortgage loan before a housing loan from HDB is granted.

Thanks in advance for any feedback and comments!

 

[deathdeath89]

My gf worked for 2 year. But change of job last July with a 2 Weeks break but have continuous cpf contributionfor a year. I on the other hand just started work for 1 month. Or gross monthly combined now is above 5k. But average out over 1 year is less then 5. Still can get grant?

 

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[noel13]

Hi, wondering how much subsidy would I be benefited from the G if I alone purchasing HDB 3rooms flat?? Thanks.

Assuming you are more than 35.

You will have a single grant of $15k.

 

[Swordsman]

not much grant for single bto buyer ?

 

[cool_ocean11]

Hi all,

My wife and I are first timers and will be planning to apply for a BTO flat. Regarding to the live near parent scheme/MCPS, both parents and married couple hv to live in the same estate/town or within 2km distance. However the flat that i will be applying is around 2.8km using the distance enquiry in the hdb website.

My question is can we still fall under the MCPS when we apply so that we can be given higher priority than other married couple but not MCPS? Do hdb allow me to appeal since the our living distance is different of ard 0.8km only?

** I understand that the $40k stay near parent is for resale flats only and does not apply for BTO**

Anyone in a similar situation as us?

 

[eagleboy]

Hi all,

My wife and I are first timers and will be planning to apply for a BTO flat. Regarding to the live near parent scheme/MCPS, both parents and married couple hv to live in the same estate/town or within 2km distance. However the flat that i will be applying is around 2.8km using the distance enquiry in the hdb website.

My question is can we still fall under the MCPS when we apply so that we can be given higher priority than other married couple but not MCPS? Do hdb allow me to appeal since the our living distance is different of ard 0.8km only?

** I understand that the $40k stay near parent is for resale flats only and does not apply for BTO**

Anyone in a similar situation as us?

i think either 2km or within the town. The grant is applicable for non mature estate.

 

[ussr_1991]

Hi all, need to ask 3 qn.


1) If my mum as a second timer jointly buy a flat with me (single < 30 yr old) now, will I be later considered as first timer by the time I reach 35 if I have transferred my co-applicant status to my mum after the 5 year MOP (by clearing all the outstanding mortgage etc)


2) If I am NOT considered as first timer then, what if I get married (she is a first timer) under the first-second timer couple? Do I still enjoy the grant, or half grant for my spouse?

3) Supposedly, by 35 and I am still single and decides to get a 2 room BTO, will I be eligible to buy a flat from HDB again by the time I get married, for example 50. Do I need to transfer away the ownership to an eligible family member or simply sell it to open market in such instance?

 

[AnnieQuek]

Buyers who have exceeded the income ceiling, how likely will they be able to be successful in appealing for a CPF grant? Considering that government have just increased the ceiling.

 

[Gixxerfied]

Buyers who have exceeded the income ceiling, how likely will they be able to be successful in appealing for a CPF grant? Considering that government have just increased the ceiling.

Their decision is usually as it is. If they mention backdated to a certain launch(for example revised shg announced in aug 2013 and backdated to July 2013), they will strictly follow that.

Since they mention the latest changes to start from nov launch, it is as it is..so any application before start launch can just actually forget about the grant..

 

[SecretAgent]

I think my agent hao siao me for CPF housing/proximity grant for resale...

Me: SC
Wife: foreigner.. most the time overseas... no PR/wp etc..
Child: SC

if I apply with my Child who is also a SC... that means SC/SC to secure the full 30+20k grant right?

He told me that I will only gets half... the other half 25k I will get when my wife gets a SC.

Or I divorce and apply it directly with my child.

Got such cases?I read thru the grant criteria and no such things..

 

[zhenyuan_2000]

Buyers who have exceeded the income ceiling, how likely will they be able to be successful in appealing for a CPF grant? Considering that government have just increased the ceiling.

Hi all,
I am a single 35yo, singapore citizen. Want to buy a resale near parent place
I have a question, if my income is just slightly above 6k (6.1k). Can I still appy for the housing grant?

Just hope that someone knows and can advise me ...
thanks

 

[sasori_12345]

How does the disbursement of resale HDB grant work ?

1) Offset against the initial down payment of flat

Or

2) Monthly reduction in mortgage payment over the loan period ?

 

[TyCoGOd_RaiNy]

How and who do I go about to appeal for the AHG/SHG? Is it possible? Or do we need to find MP?

My spouse has a 1 mth break in between the 12 months of employment due to changing of job and I just started working. We need the grant to help us with the down payment.

 

[tellyphone]

Hi all,
I am a single 35yo, singapore citizen. Want to buy a resale near parent place
I have a question, if my income is just slightly above 6k (6.1k). Can I still appy for the housing grant?

Just hope that someone knows and can advise me ...
thanks

No worries, can appeal one. Should be no problem

 

[phl6216]

Hi ALL Bros,

IM Sc , married, wife PR, 2 kids SC,

Both total income around 7.5 k per month..

Recently just booked a 5 room flat,
May i know am i entitle the AHG, IF yes how much is that ?

 

[Ah fai]

Hi all,my wife and me had just apply for nov bto,both of us are 1st timer but this will be my 2nd loan from hdb as my dad had add my name to his resell flats to help payment,may I know what will happen if I take up another loan,what is the procedure?and when will I receive the loan?thanks