HDB BTO Application: A Step-by-Step Guide To Applying for Your First HDB BTO (May 2022 BTO Launch)
HDB BTO May 2022 Sales Launch Prices
Looking to BTO soon?
The prices for the May 2022 HDB Build to Order (BTO) Sales Launch are finally out!
Interested in applying?
We did an in-depth analysis of the May 2022 HDB BTO launch to help Singaporeans make a smarter decision about getting home!
After you read that come back to this article if you have carefully considered your personal and financial decision and made the decision to apply for an HDB BTO flat!
BTO Application Process: What Are the Steps for Applying BTO?
Think that buying your first HDB BTO flat is daunting?
Spent hours on end researching and trying to understand the application process?
We gotchu.
Here’s how you can apply for your first BTO.
1) Check HDB BTO Flat Eligibility?
You and your partner need to fulfil the following criteria:
HDB BTO Citizenship and Age:
- At least one of the applicants is a Singaporean
- The other applicant is either a Singaporean or a Singapore Permanent Resident.
- Either or both of the applicants are 21 years or older
HDB BTO Income Ceiling:
- Your combined income does not exceed $14,000 (Special cases will be mentioned in the description of the launch)
- This income ceiling is $21,000 for a multi-generation/extended family applying for a 3Gen flat
HDB BTO Property Ownership Conditions:
- You do not own other local or overseas property
- You have not sold any property within the last 30 months
- You have not bought more than one new HDB/Design, Build and Sell Scheme (DBSS) flat or Executive Condominium (EC) before.
- You have not received more than one CPF Housing grant thus far.
- Or, you’ve only bought one of those properties and have only received one CPF Housing Grant before.
HDB Eligibility Check
But before you even start applying for one, complete this survey to check your eligibility!
2) Sort Out Your Financing for the Flat
Ensure that you have enough to pay the initial cost.
If you are purchasing your flat from HDB:
| Stage | Payment Due | Mode of Payment |
|---|---|---|
| Submitting your application | $10 | Credit Card |
| Booking a flat | Option fee ($500 - $2,000) | NETS |
| Signing of agreement for lease | • Stamp duty • Downpayment | • Cashier's order • CPF |
| Collection of keys | • Stamp duty and legal fees • Home Protection Scheme • Fire Insurance • Balance of the purchase price | • Cashier's order • CPF |
If you are purchasing a DBSS flat or EC from a developer:
| Stage | Payment Due | Mode of Payment |
|---|---|---|
| Submitting your application | Determined by developer | Determined by developer |
| Booking a flat and signing the Option to Purchase (OTP) | Option fee - 5% of purchase price (goes to the cash portion of the downpayment) | • Cash • Cashier's order • Cheque |
| Signing Sale and Purchase Agreement | • Balance downpayment • 1% to 3% legal fee and stamp duty | • Cash • Cashier's orde • Cheque • CPF |
| Collection of keys | If paying installments using CPF savings: • Home Protection Scheme* • Fire Insurance* The developer will inform you of any other payments to make | • Cash • Cashier's orde • Cheque • CPF |
| *Not applicable for ECs | ||
You will need to apply for the HDB Loan Eligibility (HLE) letter if you are looking to take a loan from HDB.
You will need this HLE letter during the Booking of Flat (selecting your flat).
If you prefer not to use an HDB CPF Loan, you can also approach your preferred bank for a loan.
You will need a valid Letter Of Offer from the banks before signing the Agreement of Lease.
3) HDB BTO Selection: Look Out for New BTO Launches and Apply!
Keep yourself updated for BTO launches and apply here.
- A $10 application fee is required for the application.
Make sure you think it through because a break-up after you BTO-ed means you’ll need to pay a hefty amount…
4) Check the Results of Your Application for Your HDB BTO
When the application period ends, your queue position will be balloted.
The application result will be sent to you via email or post.
You can also check the status of it online too.
Applicants will be invited to select a flat according to the balloted queue number.
Whether or not you get your chance to select a flat depends on the number of flats available when it reaches your queue number.
5) Paying the HDB Option Fee
If you’re lucky enough to be able to select the flat you want, you’ll need to pay the Option Fee.
A valid HLE letter is required when selecting a flat if you are taking a loan from HDB.
6) Agreement of Lease or Key Collection: HDB Loan Downpayment and More
The next step would be to either sign the agreement for lease or collect the keys for the flat, This will occur a few months after selecting a flat.
The signing of an agreement for lease is for flats that are still under construction, while key collection is for flats that are already completed.
Also, this is the stage where you pay for the downpayment, legal fees, and stamp fees.
Not to mention that a valid HLE or Letter of Offer from the bank is required at this stage.
All the best!
Got Questions About Getting an HDB BTO Flat?
Just head over to Seedly and start a discussion.
We’ve got thousands of community members discussing and answering these types of questions!
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