HDB home loans are a great way to own a new or resale HDB flat affordably. You can use your HDB loan to finance the purchase of a resale HDB flat, the construction of a new-build HDB flat, or purchase an apartment unit from a private developer. If you’ve been dreaming about owning that perfect home, then now is the time to start planning for it. Here are several tips for getting those plans underway and securing your dream home with an HDB property loan.

Start saving up now

The earlier you start saving for your home, the better. You’ll have more time to find the perfect home at an affordable price. If you start saving up now, you can get your down payment ready when the perfect house comes on the market. When you start saving for a new HDB flat early on, it becomes more of a reality for you in the future. You’ll be able to plan accordingly and have some money put aside for unexpected costs.

Find a good HDB bank.

One of the HDB property loan tips you should keep in mind is being keen when looking for an HDB. Finding a good HDB bank can be difficult because there are many different banks to choose from. However, it’s important to select a bank with the best interest rates and offer you the best terms. When considering an HDB bank, you should compare its interest rates, loan terms, credit requirements, and customer service. Make sure you take the time to research the options in your area to find the perfect bank that will suit your needs.

Understand the eligibility criteria

If you’re eligible for an HDB home loan, your next step is to understand the eligibility criteria for this type of financing. That way, you can ensure that you have all the information you need.

For example, suppose you’re a Singapore citizen who has been a permanent resident of Singapore for at least 7 years and have a valid employment pass or a Singapore-based company director. In that case, you will qualify for an HDB home loan. There are other criteria to consider, such as your income and the type of property you’re purchasing.

Be aware of loan limits and terms.

HDB limits and terms control HDB home loans. These limits and terms will govern how much you can borrow, the type of property you can purchase, and other requirements. For example, if you’re purchasing a resale flat with an HDB loan, you cannot borrow more than 70% of the resale flat’s value (with certain exceptions). Similarly, if you’re buying a new-build HDB unit or apartment unit from a private developer, then your loan cannot exceed 80% of its value.

Before applying for an HDB loan to buy your dream home, make sure that you know these limits and terms so that your application is successful.


Hopefully, this article has provided you with the necessary information you need to know to take the next steps in getting your dream home. Remember, if you start saving now, you’ll be able to move into your new home quicker.


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