Where are you on your HDB journey?

Yes, PRs can buy resale HDB flats (not BTO). You need to form an eligible family nucleus -- typically married to another PR or Singapore Citizen. Single PRs cannot buy HDB. There's a 3-year wait after getting PR status before you can purchase.

When the lease expires, the land and flat revert to the state. There is no compensation. The flat's value declines as the lease shortens -- called lease decay. Most banks won't lend for flats below 30 years remaining, and CPF usage is restricted below 60 years.

Both loan types now need a 25% downpayment (the loan-to-value cap was lowered from 80% to 75% on 20 Aug 2024). HDB loan: the full 25% can be paid with CPF, cash, or any mix, with no minimum cash requirement. Bank loan: at least 5% must be cash, the remaining 20% can be CPF. On a $500,000 flat that's $125,000 down: with an HDB loan, any CPF/cash split; with a bank loan, $25,000 cash plus up to $100,000 CPF.

HDB concessionary loan: 2.6% per annum (pegged at CPF Ordinary Account rate plus 0.10%, reviewed quarterly), 25% downpayment payable fully with CPF, no early repayment penalty, $14,000 per month family income ceiling. Bank loan: rates vary by lender, 25% downpayment with at least 5% cash, possible early repayment penalties, no HDB income ceiling. The HDB loan is the simpler, lower-risk default. Bank loans can save money when rates are low but expose you to rate moves, and once you switch from HDB to bank you cannot switch back.

Eligible first-timer families buying a resale flat can stack up to $190,000 in CPF housing grants since 20 Aug 2024: the Enhanced CPF Housing Grant (up to $120,000, tiered by income, capped at $9,000/month household average), the CPF Housing Grant for Families ($80,000 for a 4-room or smaller resale flat, $50,000 for 5-room or bigger), and the Proximity Housing Grant ($30,000 for living within 4km of immediate family). First-timer singles aged 35+ can stack up to $115,000 across the same three grants. Apply for an HFE Letter on the HDB Flat Portal for an exact personalised breakdown.