BTO: Income Deferment (Students & NSmen)!

Hi! I'm Ann & I booked my flat on Valentines' day this year. 🥰

One of the most frequent questions or concerns is..

𝙄 𝙝𝙖𝙫𝙚 𝙣𝙤 𝙢𝙤𝙣𝙩𝙝𝙡𝙮 𝙞𝙣𝙘𝙤𝙢𝙚, 𝙝𝙤𝙬 𝙘𝙖𝙣 𝙄 𝙜𝙚𝙩 𝙜𝙧𝙖𝙣𝙩𝙨 𝙤𝙧 𝙡𝙤𝙖𝙣𝙨?

The answer to this is ✨ 𝙄𝙣𝙘𝙤𝙢𝙚 𝘿𝙚𝙛𝙚𝙧𝙢𝙚𝙣𝙩 ✨.

Income deferment simply means that your eligibility for loans and grants will be assessed near your KEY COLLECTION date. If you're one of the featured combinations in the article by The Financially Independent Pharmacist featured inside Pic 2, congrats! You're under the Income Deferment scheme. 💰

All you have to do is declare that you're a full-time student / NSman in the application portal. Next, remember to clarify about the documents you're required to bring for your flat booking date! 📄

They will need proof that your student candidature / NS period is still ongoing at your point of application. 😊

Please also remember to bring your HFE letter to your first appointment!

Pic 3 is a document from HDB that provides an overview of the income deferment policy. If one of you is under 21 years old, check out my Lemon8 post on how the procedure goes!

𝘕𝘰𝘵𝘦: 𝘐𝘧 𝘰𝘯𝘦 𝘢𝘱𝘱𝘭𝘪𝘤𝘢𝘯𝘵 𝘪𝘴 𝘶𝘯𝘥𝘦𝘳 21 𝘺𝘦𝘢𝘳𝘴 𝘰𝘭𝘥, 𝘵𝘩𝘦𝘪𝘳 𝘱𝘢𝘳𝘦𝘯𝘵 𝘸𝘪𝘭𝘭 𝘩𝘢𝘷𝘦 𝘵𝘰 𝘴𝘪𝘨𝘯 𝘢 𝘔𝘢𝘳𝘳𝘪𝘢𝘨𝘦 𝘜𝘯𝘥𝘦𝘳𝘵𝘢𝘬𝘪𝘯𝘨 𝘍𝘰𝘳𝘮.

I also found this helpful link which provides a very comprehensive breakdown into what the HDB Income Deferment is, how it works & how it affects your downpayment. Please read the full thing for more info! Pic 2 does not showcase the full context of the article. 😊

Buying a house is really #Adulting101 and I hope this post helps you out! ✨ Feel free to chat with me if you have any questions. 😊🌿

#Singapore #Lemon8Singapore #bto #house #btosg #btoguide