Property Guides & Policies
Every guide in plain English — plus the first-timer roadmap, the latest policy changes, and a jargon-free glossary.
Check Eligibility & Set Your Budget
Confirm you qualify as a first-timer. Calculate affordability using MSR (≤30% for HDB) and TDSR (≤55% for all loans).
Get HLE Letter or Bank IPA
HDB loan → apply for HLE (valid 6 months). Bank loan → get In-Principle Approval. Know your max loan before viewing.
Choose: BTO, Resale, EC, or Private
BTO = wait 3–5 years, lower price. Resale = move in fast, more grants. EC = condo lifestyle + subsidy. Private = no restrictions.
Apply for Housing Grants
Stack EHG (up to $120K) + Family Grant (up to $80K) + PHG ($30K). Grants can reduce your loan significantly.
Exercise Option to Purchase (OTP)
Pay 1% option fee to secure the flat. 21 days to decide (HDB resale). Request HDB valuation during this period.
Legal, Stamp Duty & Collect Keys 🎉
Engage conveyancing lawyer (~$2,500). Pay BSD (1–4%). Sign S&P, disburse CPF + loan, collect your keys.
ABSD – Additional Buyer's Stamp Duty
Tax on 2nd+ properties or foreign purchases. First-time SC buyers pay 0% on their first home.
💡 Why it matters: upgrade in the wrong order and you could owe six figures — sequence your sale and purchase carefully.
BSD – Buyer's Stamp Duty
Mandatory tax on all property purchases, 1–6% depending on price. Payable within 14 days of signing.
💡 Why it matters: it's due on top of your down payment — forget it and your completion budget is short by thousands.
CPF OA – Ordinary Account
Earns 2.5% p.a. Can be used for down payment and monthly repayments. Must be refunded on sale.
💡 Why it matters: for most first-timers this IS the down payment — check your balance before you shortlist anything.
EHG – Enhanced Housing Grant
Main grant for first-timers. Up to $120,000 based on household income. Applies to BTO and resale HDB.
💡 Why it matters: it can move your budget by a whole room size — know your grant before you know your flat.
HLE – HDB Loan Eligibility
Letter confirming your max HDB loan. Required before exercising OTP on resale flat. Valid 6 months.
💡 Why it matters: no HLE (or bank IPA), no offer — sellers won't wait while you find out how much you can borrow.
LTV – Loan-to-Value Ratio
Max loan as % of property value. First property: 75% LTV. Second property: 45% LTV (bank).
💡 Why it matters: LTV sets your minimum down payment — 75% LTV means you must fund 25% yourself.
MOP – Minimum Occupation Period
HDB flats must be occupied 5 years (Standard) or 10 years (Plus/Prime) before selling or renting out.
💡 Why it matters: it locks your exit plan — a Prime flat's 10-year MOP changes when you can upgrade.
MSR – Mortgage Servicing Ratio
HDB loan repayments capped at 30% of gross monthly income. Protects buyers from over-committing.
💡 Why it matters: MSR usually caps your HDB budget before TDSR does — it's the number that decides your max flat price.
OTP – Option to Purchase
Legal document giving you the right to buy within a set period. Typically 1% of price is paid upfront.
💡 Why it matters: walk away after paying and the seller keeps your 1% — do your checks BEFORE you commit.
SORA – S'pore Overnight Rate Avg
Benchmark for floating home loan rates. Replaced SIBOR/SOR from 2024. 3M SORA currently ~3.1%.
💡 Why it matters: on a floating loan, your monthly repayment moves with SORA — budget for it rising, not just falling.
TDSR – Total Debt Servicing Ratio
All monthly debts capped at 55% of gross monthly income. Applies to all property types.
💡 Why it matters: car loans and credit lines eat into the same 55% — clearing them first raises your property budget.
PHG – Proximity Housing Grant
$30K for buying to live with parents; $20K within 4km. Stackable with EHG and Family Grant.
💡 Why it matters: buying near mum and dad is literally worth $20–30K — check the 4km radius before you shortlist.