CPF Housing Grants
Which CPF Housing Grant?
Simply put, a HDB flat is a scary six-figure commitment and you will need all the subsidies you can get. Not only can subsidies soften the blow of purchase prices, they can also help with the home loan repayment. We provide a full list of available housing grants and their corresponding target applicants, so you don’t blindly cast a net over everything and see which fish comes reeling back.
Additional Housing Grant (AHG)
The AHG is the widest reaching, entry-level housing grant for HDB buyers to cope with the hefty cost of purchase. Applicants of the grant can receive up to S$40,000, depending on monthly household income level. Obviously, the higher your income (capped at S$5,000), the lesser amount of AHG you are eligible for.
Who is it for: First time applicants of Built-to-Order (BTO) or resale flats, including singles.
Special Housing Grant (SHG)
The SHG is a complement to AHG that adds to the subsidy war chest. You can also receive up to S$40,000 depending on your monthly income, albeit a little more restrictive for qualifying conditions. You must be applying for a new flat of between two and four bedrooms in a non-mature estate. Thankfully, since November 2015, the income ceiling has been revised to be higher than the AHG at S$8,500.
Who is it for: First time applicants of BTO
If you are buying anything but a BTO, chances are you will be applying for the Family Grant. You can receive either S$20,000 or S$30,000 depending on your spouse’s citizenship status (PR or citizen). It doesn’t matter if you are only getting S$20,000; once your spouse can convert to a pink IC, a S$10,000 top-up bridges the difference. Can’t wait that long? There’s an alternative: make a baby.
Who is it for: First time buyers of resale HDB (together with spouse), Executive Condominium (EC) buyers
Note: You can apply for AHG for extra subsidies after qualifying for Family Grant.
Proximity Housing Grant (PHG)
The PHG was introduced as a further subsistence to Family Grant and AHG. As long as your new home is within 2km of your parents’ home, or you guys live together, you are eligible for an amount up to S$20,000.
Who is it for: Resale HDB buyers who want to feel closer to home but really just want to enjoy additional savings.
Half Housing Grant
Specifically, it’s half the Family Grant. If your spouse has already been a recipient of a housing grant in the past, you get S$15,000. Over on the EC side, the amount decreases with increasing income levels, up to a ceiling of S$12,000.
Who is it for: First-time resale HDB buyers, EC buyers
Singles Grant (Resale flats)
In the HDB market, singles are like castaways. Despite that measly leeway given to 35-year-olds to purchase a new flat in non-mature estates, priority is still given to newlyweds and families. You are still better off setting up your bachelor or bachelorette pad in private residences, assuming you have the financial muscle. Nevertheless, alternative lifestyle choices and the desire for independence are being recognised, hence the Singles Grant to give singletons a leg up in purchasing resale HDB flats. You can apply for anything from 2 to 5-room units and be eligible for S$15,000 worth of relief, provided your monthly income doesn’t exceed S$6,000.
Who is it for: Err, singles?
Note: Singles who are applying for BTO flats won’t be getting the Singles Grant. Instead, AHG and SHG are available as per first-time couple applicants.
Step-Up CPF Housing Grant
A cool S$15,000 for current 2-room flat owners to, well, step up to a new subsidised 3-roomer in a non-mature estate.
Who is it for: Second-time buyers of new HDB flats
Staggered down payment scheme
This isn’t a monetary grant as much as a grace of time. CPF has a staggered mode of down payment to make your first HDB ownership more accessible. Rather than forking out the full 10% at once, first-time couple applicants have the option to pay 5% during the signing of lease and the remaining half during key collection. But for bank loan takers (20% down payment), the first instalment has to comprise 5% cash and 5% CPF. The remaining 10% can be serviced using CPF. Either way, it should leave some much needed buffer time to accumulate more CPF savings, especially for younger couples.
Who is it for: First-time couple BTO buyers