How can the enhanced Special CPF Housing Grant help me finance a new flat?
At the National Day Rally 2013, Prime Minister Lee announced that the Special CPF Housing Grant (SHG) will be extended to lower and middle-income families for the purchase of 4-room flats. Previously, only households with incomes up to $2,250 purchasing new 2- or 3-room standard flats in the non-mature estates were eligible for the SHG.
The grant amount, when used to offset the mortgage loan required, will bring down one’s monthly repayment sum and help make these payments more manageable, as seen in the example below. For some households, this could even result in a $0 cash outlay out of pocket, as their monthly repayments can be financed entirely through CPF contributions, leaving them with more disposable income to meet their family requirements.
↑ Back to top