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Myths About CPF Housing Grants Debunked

9 Mar 2023

Are you aware of the different housing grants available but has many misconceptions? Learn the truth about CPF housing grants and the various grants available in Singapore in this article.

For many Singaporeans, owning a home is a dream come true. But with rising property prices, it can sometimes be difficult to secure a property that fits your budget. Fortunately, Singapore’s Central Provident Fund (CPF) provides housing grants that can help lower the cost of buying your dream home. However, there are many myths surrounding CPF housing grants that could lead to making an uninformed decision and could affect your financial future. Here are 5 common myths about CPF housing grants that you need to know about.

Myth 1: CPF Housing Grants are Only Available for First-Time Home Buyers

This is not true. CPF housing grants are available to all eligible Singaporeans, regardless of whether they are first-time home buyers or not. The only difference is that first-time buyers are eligible for more grants than those who are buying their second or subsequent property.

Myth 2: You Can Always Receive the Maximum CPF Housing Grant

Unfortunately, it is not possible to always receive the maximum CPF housing grant as there are limits to the amount of grant you can receive. The amount of grant you receive will also depend on your eligibility criteria and the size of the property you are purchasing.

Myth 3: There is Only One Type of CPF Housing Grant

This is another myth about CPF housing grants that needs to be debunked. There are actually several grants available, such as the Additional CPF Housing Grant, the Special CPF Housing Grant, and the Proximity Housing Grant.

Myth 4: CPF Housing Grants Are Here to Stay

This is not necessarily true. The CPF housing grants are subject to changes when the government makes adjustments to their policies. Therefore, you should always stay up to date with the latest news and announcements to make sure that you are aware of any changes that could affect your eligibility for a CPF housing grant.

In conclusion, the CPF housing grants are a great way to reduce your home loan and make owning a property more accessible to Singaporeans. However, there are many myths surrounding CPF housing grants and it is important to know the truth in order to make an informed decision.

Are you looking to buy a house but is unsure of which grants you qualify for? Drop me a message or give me a call and I'll resolve your queries!


The information provided in this article is for informational purposes only and is not intended to replace professional advice. No responsibility or liability is assumed for any decision taken or action taken in reliance on the information in this article. Any reliance on the information provided in this article is at the reader's own risk.

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