First time home buying process: HDB family scheme and Grants
Apply HLE (must be approved before placing an Option Fees) / Bank Loan
Submit “Intent to Buy” through HDB website
Place $1,000 “Option Fees” to seller in exchange for Option To Purchase document (Option must be exercised within 21 days, if not, it will expire after 21 days and $1,000 will be forfeited).
Request for HDB Valuation (within 24 hours).
Get bank loan approval if taking loan from banks.
Once Valuation Report is out (within 1 to 2 weeks), buyer can choose to Exercise the Option by placing $4,000 “Exercise Option Fees” to seller.
HDB Submission online via HDB Resale Portal ($80 administration fees).
Prepare a softcopy of marriage certificate.
Prepare softcopy of parents IC image front and back, marriage certificate if taking Proximity Grant.
Bank Loan Approval and Appointed Solicitor’s letter if taking a bank loan.
HDB Approval letter will be sent to both Seller and Buyer within 2 weeks. Approval letter will state the completion date (Completion date is normally 8 weeks from the last party that completes the HDB Submission online).
HDB will request for Conveyancing payment via HDB Resale Portal (Approximately 1 month before completion date).
Endorsement of all documents online (will be instructed by HDB approximately 1 month before completion date).
HDB will advice the pro-rated amount in the Property Tax payable to seller, if any.
Apply for Housing Insurance (to be done before HDB Completion).
Apply for SP services (to be activated on any specific date required by buyer) .
Completion at HDB.
HDB grants: HDB WEBSITE – First timers applicants scheme
Family Grant – $50,000 (2rm to 4rm flat, income ceiling $14,000)
Family Grant – $40,000 (5rm and above, income ceiling $14,000)
Singles – $25,000 (2rm to 4rm flat, income ceiling $14,000)
Singles – $20,000 (5rm and above, income ceiling $14,000)
Family Proximity Grant – $30,000 (live with parents/child)
Family Proximity Grant – $20,000 (within 4km to parents or live with parents)
Singles Proximity Grant – $15,000 (live with parents/child)
Singles Proximity Grant – $10,000 (within 4km to parents or live with parents)
Enhanced CPF Housing Grant – up to $80,000 (average income not more than $1,500 / month)
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