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 Hou