Buying a home in Singapore has always been a big step, especially for young couples and families. With property prices rising steadily, many find it difficult to save enough for a down payment or handle the monthly loan repayments. To make things easier, the government offers financial help through the Central Provident Fund (CPF). One of the most helpful schemes is the CPF Housing Grant for Families, which gives first-time buyers of resale HDB flats up to $40,000. This grant is designed to help Singaporeans buy homes in neighbourhoods they love, whether that means staying near their parents or settling down in a mature estate. It’s part of the government’s broader goal to make housing affordable and strengthen family ties.
What Is the CPF Housing Grant for Families?
The CPF Housing Grant for Families is a one-time grant for first-time buyers purchasing an HDB resale flat. Instead of being paid out in cash, the grant amount is credited directly into your CPF Ordinary Account. From there, it can be used to reduce your home loan, pay part of your down payment, or lower your monthly instalments. Families buying a four-room flat or smaller can receive $40,000, while those buying a five-room or larger flat can get $30,000. The aim is to give more support to families choosing smaller, more affordable flats, helping them settle down faster without financial stress. The grant also helps families who want to live near loved ones or in neighbourhoods with established schools and amenities, giving them more flexibility in their home choices.
Who Can Apply for This Grant?
To qualify for the CPF Housing Grant for Families, at least one applicant must be a Singapore Citizen. The other applicant can be either a Singapore Citizen or a Permanent Resident. Families can apply together as a couple, or with their children, parents, or even siblings if they are orphans.
All applicants must be first-time buyers, meaning they have never owned an HDB flat or received any housing subsidy before. The flat must be bought from the open market, and it must have at least 20 years of remaining lease. In addition, the lease must last until the youngest buyer is at least 95 years old otherwise, the grant amount will be reduced. Applicants must also meet the income requirement, with a combined gross monthly household income not exceeding $14,000. For the most accurate and up-to-date eligibility details, you can visit the official HDB website.
How Much Can Families Receive?
The amount you receive depends on the type of flat you buy. If you purchase a four-room flat or smaller, you can get $40,000. For five-room flats and larger, the grant amount is $30,000. What makes this scheme even more appealing is that it can be used together with other housing grants. Families can combine it with the Enhanced CPF Housing Grant, which offers up to $80,000, and the Proximity Housing Grant, which provides up to $30,000 for families living close to parents or children. This means a family could potentially receive up to $150,000 in total housing grants, making a significant difference in reducing overall costs.
How and When Is the Grant Given?
Once your application is approved, the CPF Housing Grant amount is credited directly into your CPF Ordinary Account. You can then use it to pay your flat’s down payment, reduce your home loan, or lower your monthly mortgage. It’s important to remember that if you sell your flat later, the grant amount (plus interest) must be returned to your CPF account. This ensures that your CPF savings continue to grow for your future needs. Applicants usually apply for the grant at the time of booking their resale flat with HDB. Once everything is approved, the amount will be reflected in your CPF account before the flat purchase is completed.
Things to Know Before You Apply
Each household is eligible for only one CPF Housing Grant for Families, even if both buyers meet the conditions individually. The income check is based on your average income over the past 12 months before your application. If the flat you’re buying has a shorter remaining lease, the grant amount will be smaller. It’s also important to apply for the grant as early as possible, ideally when you submit your resale flat application to HDB. You can learn more about the lease requirements and other rules through the HDB Resale Portal.
Why This Grant Matters for Singaporean Families
The $40,000 CPF Housing Grant for Families gives real support to Singaporeans who are taking their first big step into home ownership. It helps reduce the amount they need to borrow and makes it easier to afford a home in their desired location. For many families, the grant can be the difference between renting and owning their first flat. It also strengthens family bonds by making it easier to live near loved ones.
When combined with other housing grants, the CPF Housing Grant for Families can help families save a substantial amount, making their dream home within reach. By continuing to enhance these schemes, the Singapore Government ensures that every family has a fair chance at owning a comfortable and secure home of their own. For full details and applications, visit the official CPF Housing Grant page.