{"id":6429,"date":"2017-03-15T14:36:01","date_gmt":"2017-03-15T06:36:01","guid":{"rendered":"http:\/\/www.investollo.com\/?p=6429"},"modified":"2017-03-15T14:36:01","modified_gmt":"2017-03-15T06:36:01","slug":"cpf-housing-grant-resale-hdb-increase-first-time-buyer","status":"publish","type":"post","link":"https:\/\/www.areyouready.sg\/cpf-housing-grant-resale-hdb-increase-first-time-buyer\/","title":{"rendered":"CPF Housing Grant for Resale HDB to be increase for First Time Buyer"},"content":{"rendered":"

In the Budget 2017, Finance Minister Heng Hwee Kiat made the announcement to increase the CPF Housing Grants available for first-timer families buying a resale HDB. The grant amount will increase from the $30,000 currently to $50,000 (4-room or smaller resale flat) or $40,000 (5-room or larger resale flat). This new enhancement has taken effect since 20th February 2017. We are going to discuss some aspect of the CPF Housing Grant as well as the changes.<\/span><\/p>\n

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What is a CPF Housing Grant?<\/b><\/p>\n

The CPF Housing Grant is a grant from the Government to you. It is money given to you by the Government to help you pay off part of the cost of buying your first home – a resale HDB flat. It is not given to you if the first flat you intend to buy is a new BTO. New BTOs are eligible for the Special Housing Grant, not the CPF Housing Grant. <\/span><\/p>\n

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What can the CPF Housing Grant be used to pay for?<\/b><\/p>\n

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  1. Reduce the price of your HDB<\/span><\/li>\n
  2. Reduce the amount of mortgage loan you are taking<\/span><\/li>\n<\/ol>\n

    But it cannot be used to pay for the 5% or 10% down payment if you are taking a bank loan<\/a>.<\/span><\/p>\n

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    How much will I get?<\/b><\/p>\n\n\n\n\n\n\n
    Household Type<\/b><\/td>\nCurrent Grant Amount<\/b><\/td>\n<\/td>\nPrevious Amount<\/b><\/td>\n<\/tr>\n
    <\/td>\n4-room or smaller<\/span><\/td>\n5-room or bigger<\/span><\/td>\n2-room or bigger<\/span><\/td>\n<\/tr>\n
    Family<\/b><\/td>\n$50,000<\/span><\/td>\n$40,000<\/span><\/td>\n$30,000<\/span><\/td>\n<\/tr>\n
    Single<\/b><\/td>\n$25,000<\/span><\/td>\n$20,000<\/span><\/td>\n$15,000<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

     <\/p>\n