What is the Staggered Downpayment Scheme?
HDB’s Staggered Downpayment Scheme is a payment arrangement that allows individuals to split their downpayment into two installments when purchasing a property.
Through this scheme, a portion of the downpayment is made upon signing the Agreement for Lease, which signifies the commitment to purchase the property. The remaining balance of the downpayment is paid at the key collection when the buyer takes possession of the property.
This scheme offers flexibility and helps reduce financial burdens by allowing homebuyers to manage their cash flow more effectively throughout the property acquisition process.
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What are the eligibility requirements for the Staggered Downpayment Scheme?
The Staggered Downpayment Scheme applies to two categories of flat buyers:
- First-timer couples
To be eligible for the scheme, married couples and those applying under the Fiancé/Fiancée Scheme must fulfill the following requirements:
- They must have booked an uncompleted flat with 5 rooms or a smaller size through any of HDB’s sales exercises.
- Both applicants must be first-timers, or the couple must consist of a first-timer and a second-timer applicant.
- The flat application must have been submitted on or before the younger applicant’s 30th birthday.
- Flat owners downsizing to a 3-room or smaller flat in non-mature estates
Flat owners can qualify for the Staggered Downpayment Scheme if they meet the following conditions:
- They have booked an uncompleted 3-room or smaller flat in a non-mature estate through any HDB sales exercises.
- They have not sold or finalised the sale of their existing flat at the time of their new flat application.
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