Applying for a home loan is a big deal, what with the requirements, documentation, and jargon which can get pretty overwhelming. To save you some stress, we’ve put together the 2026 HDB loan eligibility checklist so you’re equipped with everything you need to know about applying for a loan to buy your first home.
1. Understand HDB Flat Eligibility Letter
Image credit: TheSmartLocal
New requirement alert. Starting in 2026, you’ll need to obtain an HDB Flat Eligibility Letter (HFE) prior to applying for any flat.
The HFE letter details your eligibility to buy a flat, the loan type, maximum loan amount, and estimated CPF housing grants. It’s valid for 9 months, and it’s best to apply for this early. Letter processing can take up to 1 month, and might take more than that in the lead up to BTO sales exercises.
Beyond that, you’ll also want to know your loan eligibility in order to avoid wasting time looking at flats that are out of your budget. Most property agents also require that you have this letter in hand before you view potential resale apartments.
2. Meet the age & citizenship requirements for HDB loans
Image credit: TheSmartLocal
Prior to applying for a loan, ensure you meet the age and citizenship requirements. If you’re single, ready to mingle, and buying a flat on your own, you’ll need to hold Singapore citizenship and be at least 35 years old. For those buying with friends or families, make sure your fellow applicants are 21 years old and above, and that at least one party is a Singapore citizen.
3. Form a valid household under HDB application schemes
Whether you’re hoping to buy your first flat with friends, family, your other half, or by yourself, you can bet there’s an HDB application scheme that suits the situation.
Family Scheme
Under the Family Scheme, married couples and families are eligible for Built-To-Order (BTO) flats, Sales of Balance flats (SBF), and resale flats. It’s the most flexible scheme and give you full access to HDB loans and CPF grants.
Joint Singles Scheme
Like the name suggests, the Joint Singles Scheme is designed for up to 4 unrelated and unmarried Singapore citizens, over the age of 35, looking to buy a flat together.
Under this scheme, you can apply for new 2-room Flexi BTO flats, resale flats of any size, or Executive Condominiums (EC) if your combined household income doesn’t exceed $16,000.
Single Singapore Citizen Scheme
If you prefer to apply for your flat alone, the Single Singapore Citizen Scheme serves those aged from 35 years old, who are single and holding Singapore citizenship.
Like with the Joint Singles Scheme, you’re only eligible to apply for a new 2-room Flexi BTO, but the resale HDB market is fair game.
Fiancé/Fiancée Scheme
For couples who are thinking of tying the knot, the Fiancé/Fiancée Scheme allows soon-to-be-married couples to purchase BTO and SBF flats of any size, as well as resale flats.
If you’re qualified for this scheme, you’re eligible for HDB loans and grants; however you’ll need to solemnise your marriage within 3 months of the completion of your flat purchase.
4. Satisfy income ceiling & property ownership conditions
Image credit: TheSmartLocal
Depending on your household, you’ll need to meet the income ceiling and property ownership conditions in order to be eligible for HDB loans.
If you’re buying a bachelor pad for yourself, your maximum average gross monthly income cannot exceed $7,000/month. The amount goes up to $14,000 in combined income of all applicants if you’re a group of singles purchasing together. The same applies to those under the Family Scheme and Fiancé/Fiancée Scheme.
For extended families, the income ceiling is set at $21,000. However, the multi-generational household structure needs to be recognised under HDB. As for Executive Condo buyers, the average gross monthly income is capped at $16,000.
Besides income ceilings, you’ll also need to take note of the specific property ownership conditions. If you’ve owned or disposed of private residential property, either locally or abroad, within the last 30 months, you won’t qualify for HDB loans.
Those who own more than one non-residential property or have exceeded the maximum number of HDB loans allowed will also not be able to apply for HDB loans.
5. Assess different HDB flat types & loan implications
Image credit: TheSmartLocal
Take note of the different HDB flat types and loan implications when you’re preparing your application.
Built-To-Order flats (BTO) are new flats sold directly by HDB in periodic launches. If you’re applying for a BTO, you’ll be eligible for both HDB loans and CPF housing grants. However, your monthly loan installment must not exceed 30% of your gross monthly household income. Keep in mind that the waiting time for a BTO is between 3 and 5 years, with a Minimum Occupancy Period (MOP) of 5 to 10 years.
Sale of Balance flats (SBF) share similar loan rules as BTO flats. These are unsold flats from previous launches and therefore, come with a shorter waiting time, and closer move-in date. That said, the unit options remaining might be limited.
Applicants opting for resale flats are also eligible for HDB loans and CPF housing grants. However, the income ceiling requirements won’t apply if you’re taking out a bank loan. As for Executive Condo buyers, you’ll only be able to apply for bank loans. That said, if you have other debts such as car or personal loans, the amount that you can loan might be reduced.
6. Gather required documents for loan application
Image credit: TheSmartLocal
So you’ve figured out your household composition, picked the type of flat you want, and figured out all of the requirements. Now, you’ll need to put together a set of documents for your loan application, as follows:
1. Personal identification documents
Your personal identification documents consist of your NRIC for all applicants and occupiers of the flat, birth certificates for those under the Family Scheme, marriage certificate for married couples, divorce documents if applicable, and death certificates if they’re relevant to your household structure.
2. Income verification documents
Income verification documents include your latest payslips dating back 3 months, a letter from your employer, and CPF records for the last 15 months.
If you’re self-employed, make sure you include your latest IRAS Notice of Assessment, ACRA business profile, business bank statements of up to 12 months, and a declaration of ongoing business activity.
When compiling your CPF-related documents, make sure that you’ve included your CPF Ordinary Account balance, CPF contribution statements, and CPF withdrawal history if applicable.
3. Property ownership declaration documents
For those who own local and overseas properties, you’ll need to provide property ownership declaration documents. These include property ownership paperwork, title deeds, and property statements. If you’ve disposed of properties previously, a sales and purchase agreement, as well as proof of disposal, are required.
Regardless of whether these properties are inherited or jointly owned, you’ll have to declare them.
4. Loan records, intention & debt information
If you’ve received an HDB loan in the past, ensure the loan record is included in your current application. You’ll also need to attach your subsidy history and previous flat ownership documents, as well as any debts under your name, including car loans, student debts, and credit card balances.
In your loan intention letter, you need to specify your preferred type of flat, loan, and bank IPA for those looking to take out a bank loan, and downpayment source.
5. Apply for CPF Housing Grants to reduce your loans
Image credit: TheSmartLocal
Look out for CPF Housing Grants that you’re eligible for, to help offset your flat purchase price and reduce the amount of loans you have to take.
CPF grants are treated as part of your CPF funds. They’re applied before your loan amount is calculated. This helps to decrease your monthly installments and increase your chances of getting your loan approved. There are three types of grants: Enhanced CPF Housing Grant, Family/Singles Grant, and Proximity Housing Grant.
1. Enhanced CPF Housing Grant (EHG)
With the Enhanced CPF Housing Grant, everyone can get some degree of subsidy on their housing purchase. Families can get up to $80,000 off, and singles are eligible for grant amounts up to $40,000. The exact grant amount is determined based on your household’s average income over the last 12 months.
The EHG is applicable for both new and resale flats.
2. Family Grant or Singles Grant
The Family Grant is given to first-time buyers under the Family Scheme. Depending on the flat type and household structure, you may be qualified for up to $80,000.
Then, there’s the Singles Grant, which is available for first-timers applying under the Joint Singles Scheme or Single Singapore Citizen Scheme. Under the Singles Grant, you can get up to $40,000.
The Family Grant and Singles Grant are only valid for purchases of resale flats.
3. Proximity Housing Grant (PHG)
Those moving in with or buying homes within 4km of their parents or children qualify for the Proximity Housing Grant. If you’re single, you can get a grant of up to $15,000. The grant amount goes up to $30,000 for families.
The PHG can be combined with the EHG and Family/Singles Grant.
4. Half Housing Grant
The Half Housing Grant is designed for buyers who have previously received housing subsidies. With the Half Housing Grant, you may be able to get half of the applicable Family Grant or Singles Grant.
2026 HDB loan eligibility checklist
With countless requirements, thinking of applying for a flat, and taking out a loan can take a toll. We’ve got your back. Keep calm and follow our HDB loan eligibility checklist so you know exactly what you need in order to get your paperwork done and dusted. That way, you can get your loan approved and home purchased with as little stress as possible.
For more reads:
Cover image adapted from: TheSmartLocal
Drop us your email so you won't miss the latest news.
