Introduction
If you’re a first-time flat buyer in Singapore, you may be eligible for an Enhanced CPF Housing Grant (EHG) to make housing more affordable and accessible. The EHG is a CPF housing grant that can be used to offset the purchase price of a flat or reduce the housing loan required for the flat purchase. This grant is applicable for new flat applications from the September 2019 sales exercise and resale flat applications submitted from 11 September 2019.
Understanding the Enhanced CPF Housing Grant (EHG)
The EHG is a new housing grant for first-time flat buyers applying for a new Build-To-Order (BTO) flat or buying a resale flat in the open market. It replaces the Additional CPF Housing Grant (AHG) and Special CPF Housing Grant (SHG) and offers higher grant amounts of up to $80,000. The grant amount is dependent on your average gross monthly household income for the previous 12 months and your flat type.
Applying for a Resale Flat with EHG
If you’re applying for a resale flat with EHG, you’ll need to ensure that the flat is eligible for the grant. The flat must not have been sold before and must not have received any AHG or SHG previously. You’ll also need to ensure that you meet the eligibility criteria and submit the required documents to HDB.
Key Takeaways
- The EHG is a CPF housing grant that can be used to offset the purchase price of a flat or reduce the housing loan required for the flat purchase.
- The EHG is a new housing grant for first-time flat buyers applying for a new Build-To-Order (BTO) flat or buying a resale flat in the open market.
- If you’re applying for a resale flat with EHG, you’ll need to ensure that the flat is eligible for the grant and that you meet the eligibility criteria and submit the required documents to HDB.
Understanding the Enhanced CPF Housing Grant (EHG)
If you are a Singapore citizen looking to purchase your first home, the Enhanced CPF Housing Grant (EHG) can help you make your dream a reality. The EHG is a CPF housing grant that replaces the Additional CPF Housing Grant (AHG) and Special CPF Housing Grant (SHG) to make housing more affordable and accessible to Singaporeans.
Eligibility Criteria for EHG
To be eligible for EHG, you must be a first-time flat buyer who is a Singapore citizen. You must also meet the following eligibility conditions:
- You must have a gross monthly household income of up to $14,000, or a gross monthly household income of up to $21,000 if you are buying a resale flat with your extended family.
- You must not own any other property, locally or overseas.
- You must not have received any housing subsidies before.
Additionally, if you are applying as a couple, at least one of you must have worked continuously for the past 12 months before the flat application.
Grant Amounts and Income Ceilings
Under the EHG, eligible first-time flat buyers can enjoy up to $80,000 in housing grants. The grant amount is determined by your monthly household income and the type of flat you are purchasing.
For first-timer families, the EHG can be up to $80,000, while a couple comprising a first-timer and second-timer may qualify for an EHG (Singles) of up to $40,000. The income ceilings for EHG are as follows:
| Flat Type | Income Ceiling |
|---|---|
| 2-room | $7,000 |
| 3-room | $14,000 |
| 4-room | $21,000 |
| 5-room | $21,000 |
| Executive | $21,000 |
The EHG is a great way to reduce your financial commitment when purchasing your first home. With the right eligibility criteria and income ceilings, you can enjoy the benefits of this housing grant and make your dream of owning a home in Singapore a reality.
Applying for a Resale Flat with EHG
If you are a first-time buyer looking to purchase a resale flat in Singapore, you may be eligible for the Enhanced CPF Housing Grant (EHG). The EHG is a CPF housing grant that can provide up to $80,000 in financial assistance to eligible first-time flat buyers.
Resale Flat Applications Process
To apply for a resale flat with EHG, you must first qualify for the CPF Housing Grants for resale flats (Families or Singles). Once you have qualified for the CPF Housing Grants, you can then apply for the EHG.
The process of applying for a resale flat with EHG involves several steps. First, you need to find a suitable resale flat in either a mature or non-mature estate that meets your needs. Then, you need to submit an application to the HDB for the flat you want to purchase.
After submitting your application, the HDB will assess your eligibility for the EHG and other housing grants. If you are eligible, the HDB will inform you of the amount of grant you are eligible for.
Incorporating Housing Grants
When incorporating the EHG into your housing loan, it is important to note that the grant is credited directly into your CPF Ordinary Account (OA). This means that the grant can be used to offset the purchase price of your flat or to reduce your housing loan.
In addition to the EHG, you may also be eligible for other housing grants, such as the Family Grant and Proximity Housing Grant (PHG). The Family Grant provides up to $50,000 in financial assistance to eligible first-time flat buyers who are married or have children. The PHG provides up to $30,000 in financial assistance to eligible first-time flat buyers who are purchasing a resale flat near their parents or children.
In conclusion, applying for a resale flat with EHG can provide significant financial assistance to eligible first-time flat buyers. By following the application process and incorporating the grant into your housing loan, you can make your dream of owning a home in Singapore a reality.
Options for First-Time Flat Buyers
If you are a first-time applicant looking to purchase a flat in Singapore, there are several options available to you. The Enhanced CPF Housing Grant (EHG) is a CPF housing grant for first-time flat buyers applying for a new Build-To-Order (BTO) flat or buying a resale flat in the open market. Here are some options for first-time flat buyers:
New BTO Flats and Eligibility
If you are a first-time applicant, you may apply for a new Build-To-Order (BTO) flat. BTO flats are generally more affordable than resale flats and are offered by the Housing and Development Board (HDB). To be eligible for a new BTO flat, you must meet the following criteria:
- You must be a Singapore citizen.
- You must be at least 21 years old.
- You must not own any other property overseas or locally, or have disposed of any within the last 30 months.
- You must not have received more than two HDB grants previously.
If you meet the eligibility criteria, you can apply for a new BTO flat and be eligible for the Enhanced CPF Housing Grant (EHG) of up to $80,000.
Sales of Balance Flats and Re-Offer Exercises
Another option for first-time home buyers is to purchase a flat through the Sales of Balance Flats (SBF) or Re-Offer of Flats (ROF) exercises. SBF and ROF exercises are conducted throughout the year and offer unsold flats from previous BTO launches and other sources.
To be eligible for SBF or ROF, you must meet the following criteria:
- You must be a Singapore citizen.
- You must be at least 21 years old.
- You must not own any other property overseas or locally, or have disposed of any within the last 30 months.
- You must not have received more than two HDB grants previously.
If you meet the eligibility criteria, you can apply for a flat through the SBF or ROF exercises and be eligible for the Enhanced CPF Housing Grant (EHG) of up to $80,000.
In conclusion, as a first-time flat buyer in Singapore, you have several options available to you. Whether you choose to purchase a new BTO flat or a resale flat through the SBF or ROF exercises, you can be eligible for the Enhanced CPF Housing Grant (EHG) of up to $80,000.
Special Considerations for Singles and Joint Applicants
If you are a single Singapore citizen looking to purchase your first home, you may be eligible for the Single Singapore Citizen Scheme. This scheme offers a range of benefits, including the Enhanced CPF Housing Grant (EHG) of up to $40,000. To be eligible for the EHG, you must first qualify for the CPF Housing Grant for Resale Flats (Singles).
As a first-timer single citizen, you can also apply for the Additional Housing Grant (AHG) of up to $40,000 and the Special Housing Grant (SHG) of up to $40,000, depending on your income. These grants can be used in conjunction with the EHG to make your home purchase more affordable.
If you are buying with other first-timer singles, up to two singles may each be eligible for an EHG (Singles) of up to $40,000, for a total of $80,000. This is available for both new Build-To-Order (BTO) flats and resale flats.
Single Singapore Citizen Scheme
The Single Singapore Citizen Scheme is designed to help single Singapore citizens purchase their first home. To be eligible for this scheme, you must be a Singapore citizen aged 35 or older and have never been married before. You must also meet the income ceiling of $7,000 per month.
Under this scheme, you can purchase a new BTO flat or a resale flat. You may also be eligible for the EHG, AHG, and SHG, depending on your income.
Joint Singles Scheme and Related Grants
If you are buying a flat with another single Singapore citizen, you may be eligible for the Joint Singles Scheme. This scheme allows up to two singles to purchase a flat together, with each person owning an equal share of the flat.
Under this scheme, you may also be eligible for the EHG (Singles) of up to $40,000 per person, the AHG of up to $40,000 per person, and the SHG of up to $40,000 per person, depending on your income.
In addition, joint applicants may also be eligible for the Proximity Housing Grant (PHG) of up to $30,000 if they are buying a resale flat near their parents or married child.
Overall, as a single or joint first-timer applicant, you have a range of options available to help make your home purchase more affordable. By taking advantage of the various grants and schemes available, you can find the right home for your needs and budget.
Planning for Long-Term Affordability and Accessibility
When it comes to buying your first home in Singapore, it’s important to plan for long-term affordability and accessibility. This means considering factors such as the location, the remaining lease of the property, and your financial planning.
Ensuring Sufficient Lease for Future Needs
One important factor to consider when planning for long-term affordability is the remaining lease of the property. Short leases can be a concern for homeowners, as they may limit your options for upgrading or selling your property in the future.
To ensure sufficient lease for future needs, it’s important to choose a property with a lease that will last for a reasonable amount of time. This will give you more options for upgrading or selling your property in the future, which can help you to maintain long-term affordability and accessibility.
Financial Planning with CPF Ordinary Account
Another important factor to consider when planning for long-term affordability is your financial planning. This includes using your CPF Ordinary Account to finance your home purchase.
By using your CPF Ordinary Account, you can enjoy lower monthly payments and interest rates, which can help to make your home purchase more affordable. You can also use your CPF Ordinary Account to pay for your monthly mortgage payments, which can help to ensure that you have enough money to cover your expenses.
Overall, planning for long-term affordability and accessibility is an important part of buying your first home in Singapore. By considering factors such as the location, the remaining lease of the property, and your financial planning, you can make sure that you are able to maintain long-term affordability and accessibility.
Frequently Asked Questions
How can I apply for the Enhanced Housing Grant?
To apply for the Enhanced Housing Grant (EHG), you can submit your application through the HDB portal. You will need to provide personal details, income information, and other relevant documents. Once you have submitted your application, you can track its status online.
What are the eligibility criteria for receiving the EHG Grant?
To be eligible for the EHG Grant, you must be a first-time flat buyer who is a Singapore citizen. You must also have a gross monthly household income of $9,000 or less, and be purchasing a new or resale flat from HDB. The grant amount you are eligible for will depend on your income and other factors.
Where can I check the status of my EHG application?
You can check the status of your EHG application online through the HDB portal. You will need to log in using your SingPass ID and password. Once you have logged in, you can view the status of your application and any updates.
What is the maximum amount I can receive from the EHG Grant?
The maximum amount you can receive from the EHG Grant depends on your income and other factors. First-timer families may qualify for an EHG of up to $80,000, while a couple comprising a first-timer and second-timer may qualify for an EHG (Singles) of up to $40,000. If you are buying a resale flat, you may qualify for an EHG of up to $55,000.
How does the CPF Housing Grant differ from the EHG?
The CPF Housing Grant is a separate grant that is available to eligible first-time flat buyers. The CPF Housing Grant is designed to help with the down payment and monthly mortgage payments for your flat. The EHG, on the other hand, is designed to help with the purchase price of your flat.
Can I use an EHG Grant Calculator to estimate my potential grant amount?
Yes, you can use an EHG Grant Calculator to estimate your potential grant amount. The calculator takes into account your income, family status, and other factors to provide an estimate of the grant amount you may be eligible for. However, it is important to note that the actual grant amount you receive may differ from the estimated amount.