If you’re a first-time homebuyer in Singapore, you may be eligible for the Enhanced CPF Housing Grant (EHG). This grant was introduced in 2019 as a replacement for the Additional CPF Housing Grant (AHG) and Special CPF Housing Grant (SHG). The EHG provides eligible applicants with up to $80,000 in housing grants to help make their home purchase more affordable.
To be eligible for the EHG, you must be a first-time applicant and meet certain income and citizenship requirements. The grant is available for both new Build-To-Order (BTO) flats and resale flats in the open market. In addition to the EHG, first-time homebuyers may also be eligible for the Proximity Housing Grant (PHG) and Special CPF Housing Grant (SHG), depending on their circumstances.
Overall, the Enhanced CPF Housing Grant is an excellent opportunity for first-time homebuyers in Singapore to make their home purchase more affordable. By taking advantage of this grant, you can significantly reduce the amount of money you need to save for your down payment and monthly mortgage payments. Keep reading to learn more about the eligibility criteria, application process, and other key considerations when applying for the EHG.
Key Takeaways
- The Enhanced CPF Housing Grant provides eligible first-time homebuyers in Singapore with up to $80,000 in housing grants.
- To be eligible for the EHG, you must meet certain income and citizenship requirements and be a first-time applicant.
- In addition to the EHG, first-time homebuyers may also be eligible for the Proximity Housing Grant and Special CPF Housing Grant, depending on their circumstances.
Understanding the Enhanced CPF Housing Grant (EHG)
If you are a first-time flat buyer in Singapore, you may be eligible for the Enhanced CPF Housing Grant (EHG). The EHG is a CPF housing grant that helps first-time flat buyers to make housing more affordable and accessible. Here’s what you need to know about the EHG.
Eligibility for EHG
To be eligible for the EHG, you must meet certain eligibility conditions. Firstly, you must be a first-time flat buyer, which means you have not received any housing subsidy from the government before. Secondly, you must have a gross monthly household income of $9,000 or less. Lastly, you must not exceed the income ceiling of $14,000.
EHG Amounts and Household Income Thresholds
The amount of EHG you can receive depends on your household income and your flat type. If you are a first-timer family, you may qualify for an EHG of up to $80,000. On the other hand, if you are a couple comprising a first-timer and second-timer, you may qualify for an EHG (Singles) of up to $40,000.
The household income threshold for the EHG is $9,000. If your household income is between $9,001 and $11,000, you may still be eligible for a lower amount of EHG. However, if your household income is above $11,000, you will not be eligible for the EHG.
In conclusion, the EHG is a great initiative by the government of Singapore to make housing more affordable and accessible to first-time flat buyers. If you meet the eligibility conditions and household income thresholds, you should definitely consider applying for the EHG.
Exploring the Eligibility Criteria for Different Flat Types
Criteria for BTO and Resale Flats
If you’re a first-time home buyer looking to purchase a new Build-To-Order (BTO) flat or a resale flat, you may be eligible for the Enhanced CPF Housing Grant (EHG) of up to $80,000. To qualify for the EHG, you must meet certain eligibility criteria, which vary depending on the type of flat you’re interested in.
For BTO flats, you must be a Singapore Citizen (SC) or a Singapore Permanent Resident (SPR) applying with an SC spouse or fiancé(e). You must also not own any other property, locally or overseas, and have not received any housing subsidy from HDB.
For resale flats, you must be a first-time buyer, and your average gross monthly household income for the 12 months before your application must not exceed $9,000. You must also not own any other property, locally or overseas, and have not received any housing subsidy from HDB.
In addition, you must meet the following requirements:
- For 2-room Flexi flats, you must be aged 55 or above.
- For 3-room, 4-room, 5-room, and Executive flats, you must be aged 21 or above.
- For Executive Condominiums (ECs), you must be a Singapore Citizen, have a gross monthly household income of up to $16,000, and have not owned any private property in the last 30 months.
Special Considerations for ECs
If you’re interested in purchasing an EC, there are some additional eligibility criteria you must meet. For example, you must not have owned any private property in the last 30 months before application, and you must have a gross monthly household income of up to $16,000.
It’s also worth noting that ECs are a hybrid of public and private housing, and they come with certain restrictions. For the first 10 years after purchase, you can only sell your EC to Singapore Citizens or Permanent Residents who meet the eligibility criteria. After that, the restrictions are lifted, and you can sell your EC to anyone.
In conclusion, the eligibility criteria for the Enhanced CPF Housing Grant varies depending on the type of flat you’re interested in. Whether you’re looking to purchase a new BTO flat, a resale flat, or an EC, make sure you meet the eligibility criteria before applying for the EHG.
Additional Grants: Proximity Housing Grant and Special CPF Housing Grant
If you are a first-time flat buyer in Singapore, you may be eligible for additional grants in addition to the Enhanced CPF Housing Grant (EHG). These grants can further reduce the cost of purchasing your dream home. Here are some details about the two additional grants: Proximity Housing Grant (PHG) and Special CPF Housing Grant (SHG).
Proximity Housing Grant (PHG) Details
The Proximity Housing Grant (PHG) is a grant that encourages families to live closer to one another. If you are looking to purchase a resale flat near your parents or married child, you may be eligible for a PHG of up to $30,000. The grant is also available for families who wish to live near their siblings.
To be eligible for the PHG, you must meet certain conditions. For example, you must be a Singapore Citizen or Permanent Resident, and you must be purchasing a resale flat that is located within 4km of your parents or married child. You must also form a family nucleus with your parents or married child and be living together in the flat for at least 5 years.
Special CPF Housing Grant (SHG) Insights
The Special CPF Housing Grant (SHG) is a grant that is available to first-time flat buyers with lower income. If you are eligible for the SHG, you can receive up to $40,000 in housing grants. The SHG is available for both new Build-To-Order (BTO) flats and resale flats.
To be eligible for the SHG, you must meet certain conditions. For example, your average monthly household income must not exceed $8,500, and you must not own any other property. The grant amount that y