Are you looking to buy your first home in Singapore and say goodbye to the unsettling monthly rents? Perhaps you don’t know what it takes to qualify or don’t know where to start. This article will help you out. Purchasing a home in Singapore isn’t one of the wildest dreams but a downright achievable reality. However, you need to check out a few requirements before assuring yourself of getting the big cash bags. Here are the six essential eligibility requirements for Singapore’s housing and development board (HDB) bank load.

1. Citizenship Status

Before setting sail, you must be a legal Singaporean citizen offering to own a home in Singapore to be successful. However, it’s also common for non-residents to qualify for HDB loans, but that only happens on the condition that a buyer in a group is a legal Singapore citizen. Frankly, it’s pretty lenient considering that standard bank loans are more restricting, requiring that your employment pass has at least a year of validity. While the law may categorically allow Singapore citizens to apply for HDB loans, non-citizens still have the chance to acquire it indirectly.

2. Gross Monthly Household Income Requirements

Your gross monthly income must not exceed $14,000, meaning that you may not qualify for an HDB loan if your income goes beyond that. Otherwise, you can only apply for a bank loan. This valuation stretches to $21,000 for extended families and only $7,000 for singles. For more insight about the ideal rates on your mortgage, please visit Remember, you may need to make a down payment of about 10% of the purchase price compared to 25% in standard bank loans. This down payment is usually fixed but can sometimes vary depending on a few other factors.

3. Legal Age Requirements

You’d hardly get the green light to apply for an HDB bank loan if you aren’t of legal age. The law reserves the right for people above 21 years of age to apply for an HDB loan. However, a few exceptions exist for certain groups, including singles and applying for single Singapore citizen scheme (SSCS) HDB loans for flats, who must be 35 years of age, either divorced or single

4. Property Ownership

Before applying for an HDB bank loan in Singapore, you must ensure you haven’t owned any residential private property 30 months before your application. Also, it’s crucial you shouldn’t have disposed of any property in that period since having done the opposite will disqualify you for the loan. Besides, you shouldn’t own more than one market, a hawker stall, or commercial property. Again, holding an industrial property might lock you out, and your application will bounce.


Getting an HDB loan in Singapore won’t bother you if you satisfactorily meet the eligibility requirements. Apart from being of legal age permissible by the board to apply for the loan, it’d help if you satisfied a few other conditions, most notably those revolving around property ownership and gross monthly incomes. Hopefully, this article gives you valuable insight to make your HDB load application seamless.