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Hi, i believe you are asking from the perspective of a single purchasing a HDB. They will be taking the average of your past 12months salary, so while I can't guarantee that your salary fulfill the loan requirement, it might be possible. The best way is to get an HFE then to see what is the result.

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Good day to you,

Putting things in perspective:

First job earning around $3.5k (Oct 2024 to Oct 2025) + Earning $4k fixed (Jan 2025 to Oct 2025) = ($42k + $40k) / 12 month = $6.8k.

Hence you are within the income cap for singles to be eligible for housing grant on the purchase of resale HDB unit.

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1. **Income Calculation**: For singles buying an HDB flat, your average monthly income over the past **12 months** will be used to determine loan eligibility and grant qualification.

2. **Your Scenario**:
- First job: $3.5k/month (Oct 2024 to Oct 2025) = $42k/year.
- Second job: $4k/month (Jan 2025 to Oct 2025) = $40k/year.
- Total: $82k over 12 months = **$6.8k/month average**.

3. **Eligibility**: Your average income of $6.8k/month falls within the **$7,000 income cap** for singles, making you eligible for housing grants on a resale HDB purchase.

4. **Next Step**: Apply for the **HDB Flat Eligibility (HFE)** to confirm your loan amount, grant eligibility, and overall affordability.

5. **Plan Ahead**: Use the HFE results to budget for your resale flat purchase, including downpayment, grants, and monthly repayments.

*As the saying goes, "Knowledge is power." Getting your HFE will give you clarity and confidence to move forward with your property plans.*
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Hope to hear from you soon.
Pei Mobile: (65) 9 7 1 0 0 1 5 5.
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Associate Group Director
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You may wish to direct the question to HDB instead for better and more accurate advise.

——

I have been in the real estate business since 2009, with more than 14 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

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Hi,

1) As long as both incomes were contributing CPF and obviously will be reflected in your IRAS, it is logic to declare both incomes to the HDB for their consideration.
2) It is clearly stated in HDB that they will take an average of the total income for the past 12 months.
3) Thus, when you were worried that they will take your future income under consideration to decide whether to grant you an HDB loan is not valid.
4) Do note that even the 13th month annual bonus will receive a hair cut of 30% before taking into the formula to determine whether you have cross the income ceiling.
5) You shouldn't need to worry that you won't get the loan you intend to apply for.
6) Honestly, at this point of time taking an HDB loan might not be the best choice for you.
7) The fixed loan offered by various banks already lower than 2.6% that the HDB is offering. OCBC already offering 2.48% for 3 years just for your knowledge.
8) HDB loan was one of the option that I had always recommended in the past due to the following reasons:
(a) lower and stable interest rate, it is tagged against our OA interest rate at 0.1% above.
(b) You can do a lump sum repayment to reduce the return tenure or monthly mortgage amount without cost.
(c) The whole downpayment can be in CPF without using any cash.
(d) The downpaymnet is lower compared to the private banks.

9) Now, the policy had changed:
(a) Private banks are offering lower rate, and according to the past history usually this kind of situation will last for a few years. Mainly dependent on the US monetary policy.
(b) Lump sum payment wise, private banks will charge $1.5k~$2.5k for each lump sum repayment. Therefore, HDB loan still have an edge over this.
(c) The downpayment has to be 5% in cash, and 20% can be cash and/or CPF. HDB loan has an advantage over this because the biggest cash is the OTP option and exercise fees, maximum capped at $5k.
(d) The downpayment is the same for private banks and HDB, as the maximum loan is kept at 75% LTV for both of the loans.

10) The disadvantages of using a private bank loan are:
(a) You have to do a refinance or repricing every few years unlike the HDB loan. You have to spend some time to monitor the changes of interest rate every few years and make necessary changes.
(b) The 5% cash downpayment is a big hurdle for a lot of people who rely very much on their funds in their OA when buying their home.

11) However, the biggest advantage of using a private bank is you can decide how much you are utilizing your funds in your OA. You can retain maximum $20k when taking HDB loan because the HDB tends to borrow less than more.
12) When taking loan from a private bank, the bank will tend to borrow more than less. You can keep your funds in OA to gain a higher interest. Like the circumstance for now. The interest rate for loan is 2.48%, and interest rate for your saving in OA is 2.5%. You are gaining a 0.2% when taking a bank loan. The gain will be higher if the interest rate drop further after the locked in period.

13) Whatever your decision is, you will still need the HFE to buy an HDB flat. So, apply for your HFE first and decide late. Remember to apply for the HDB loan in your application, you can change your mind later when found your ideal home.

All the best!

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answers your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
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