Grants to make BTO more affordable

Hey there, Let's talk about BTO grants in Singapore. I (Aaron) am in the midst of finding a house, and i have done so much research on it and have decided to share what i have found. So here are the 2 grants you can take if you want to apply for BTO although the second one really isn't applicable

First up, we have the EHG (Enhanced CPF Housing Grant). It's a bit of a tease, with its decreasing value, but every little bit helps, right? 😅

Next, we have the Step Up Grant. This one's for 2/3 room HDB owners looking to upgrade. If you're earning less than $7000, you could get a grant of $15000! This isn’t applicable to most first time home buyers.

Now, let's talk loans. HDB vs Bank - it's a tough choice. But before you can even apply for a loan or BTO, you'll need a new HFE letter. It's a bit of a chore, but it's pretty straightforward.

IMO HDB loan is super good right now as it is only at 2.6% which is much lower than other banks are offering. In the past bank loans used to be 1% which was great, but those days are over and it is much better to stick to teh HDB loan of 2.6%

#homeowner #homebuying #money #finance #adulting101