HDB Loan Eligibility Conditions

HDB Loan Eligibility Conditions

We share the eligibility conditions for HDB Concessionary loan.

HDB provides housing loans at concessionary interest rate to eligible flat buyers, subject to HDB's credit assessment and prevailing mortgage loan criteria.

Since 1 January 2003, flat buyers who are not eligible for an HDB loan will have to take a loan from a bank/financial institution that is licensed by the Monetary Authority of Singapore to provide housing loans.

Flat buyers can apply for an HDB loan if you and / or your essential occupiers (if any):

(a)
have at least one buyer who is a Singapore citizen;
(b)
have a gross monthly household income not exceeding $8,000;
(c)
have not previously taken two or more HDB concessionary interest rate loans;
(d)
do not own any private residential property^ in Singapore or overseas;
(e)
have not disposed off any private residential property^ within 30 months before the date of application for HDB Loan Eligibility (HLE) and have never taken any HDB concessionary interest rate loan;
(f)
do not own more than one market / hawker stalls or commercial / industrial
property in Singapore or overseas;
(g)
own one market / hawker stall or commercial / industrial property and operate the business yourself;
(h)
are buying a 5 room or smaller resale flat under the Single Singapore Citizen (SSC) Scheme with a gross monthly income not exceeding $3,000.

^ Private residential property include HUDC flat / Executive Condominium.

Singapore Housing Loan conditions are subject to change.

Housing Loan Rate