Home owners who face difficulties paying the monthly instalments of their HDB housing loan may consider these Financial Assistance Measures (FAM).

Short-term options

You may be eligible for the following options:

Pay your housing loan arrears by instalments within a reasonable period
Lower your monthly loan instalment amount by extending the housing loan term up to the maximum repayment period
Reduce or defer your monthly loan instalments for a continuous 6-month period
Include working family members as joint home owners to help pay for the flat loan instalments or arrears
Participate in the Homeowner Job Support (HJS) pilot, which reduces or defers your monthly loan instalments and temporarily suspends your mortgage interest for a continuous 12-month period. Eligible home owners must be unemployed, and willing to work with a career coach from the Skills and Workforce Development Agency (SWDA) or Employment and Employability Institute (e2i) to develop and see through an employment action plan during the assistance period.

Please note these important points:

Home owners who wish to take up any FAM listed above must submit the financial assistance application form to HDB
During the assistance period, monthly interest will continue to accrue on the outstanding HDB housing loan balance, except for HJS participants. It is therefore best to revert to the normal loan instalments as soon as your financial position improves.
Home owners may have to pay a higher monthly loan instalment after the expiry of the FAM
Should there be any revision to the HDB housing loan interest rate, the monthly loan instalment amount will be adjusted

Long-term options to consider

The short-term FAM options are measures to help you tide over a temporary period of financial hardship. If your financial situation does not improve, we recommend that you consider these long-term options:

Rent out your spare bedroom(s) to generate additional income
Sell the existing flat and right-sizing to a smaller flat that is more financially manageable

How to apply for assistance

To apply for the FAM, please book an appointment to visit the HDB Branch managing your flat with the following documents:

Identity cards of all home owners
Latest payslip or income letters of all home owners and permitted occupiers. A Statutory Declaration of income status is required for those who are unemployed, self-employed, or without an income letter or payslip. You can make the Statutory Declaration at the HDB Branch.
Latest CPF Statement of Account, or authorise us to enquire on your CPF Ordinary Account balance online with the CPF Board
Copies of outstanding bills (e.g. medical fees, utilities, service and conservancy charges, credit card payments, renovation loan documents, etc.)
Any other documentary proof of financial hardship to support the application

Assistance is granted based on the merits of each case. There is no administrative fee payable for application of the FAM.

If you wish to get in touch with HDB, please visit our Contact Us page.

Options for households in arrears for housing loan taken from FIs

Homeowners who have taken a housing loan from a Financial Institution (FI) and are facing difficulties in repaying their loan instalments are advised to consider the following options:

Approach the FI early to work out viable repayment options to resolve mortgage arrears
Refinance the loan with another FI offering a more manageable interest rate
Rent out spare bedroom(s) to generate additional income
Include working family members as joint owners to help pay for the loan instalment/ arrears
Sell the existing flat and right-size to a more affordable flat

For more information, please refer to the Association of Banks in Singapore (ABS)’s Home Loans Consumer Guide .