Income Guidelines and Documents

Find out about our income guidelines and prepare the required documents before applying for an HDB Loan Eligibility (HLE) letter.

Income guidelines

All applicant(s) must be employed at the month of application and remain employed before an HDB housing loan is disbursed.

The following will apply if you are employed but on no-pay leave:

Duration of No-pay Leave at point of HLE Letter Application Income Assessment
Less than 6 months Your last drawn income is used for assessment.
6 months or more Your income will not be considered.

The following types of income/ allowance will not be considered for credit assessment:

  • Alimony/ maintenance fee
  • Bonuses
  • Claims/ reimbursement/ expenses
  • Director's fee
  • Dividend income/ interest from deposit accounts
  • Income from ad hoc overtime work
  • National Service allowance
  • Occupier’s income
  • Overseas cost of living allowance
  • Pension
  • Rental income
  • Scholarship overseas allowance

Documents

To process your application for an HLE letter, you have to provide the necessary documents for all persons listed in the application.

If you are working overseas, please submit additional income proof, such as your employment pass, work permit, business documents, or overseas income tax returns. An official English translation is required if the original documents are not in English, Mandarin, Malay, or Tamil.

Prepare the required documents based on your employment type below. We may also request additional documents for credit assessment purpose.

Employed with monthly CPF contributions

Application Status Required Documents[1]
Applicant

Payslips or recent letter[2] (sample) (JPEG, 55KB) from the employer certifying job designation, commencement date, and breakdown of salaries for the following months:

  • If income is fixed: 3 months’ payslips preceding the month of application
  • If income is variable and/ or income includes allowances: 6 months’ payslips preceding the month of application;

and

  • Latest 15 months’ CPF contribution history (sample) (JPEG, 89KB)
Occupier 3 months’ payslips preceding the month of application, or recent letter[2] (sample) (JPEG, 55KB) from the employer certifying job designation, commencement date, and salaries for 3 months preceding the month of application

Notes:

[1] Employed persons have to submit payslips or employer’s letters to show the breakdown of income components received. As income tax returns do not reflect the breakdown of income, they will not be accepted.
[2] For proof of income, all employer's letters must have the company letterhead/ stamp, and the name, signature, and designation of the certifying officer.

Employed without monthly CPF contributions

Application Status Required Documents[1]
Applicant
  • 6 months’ payslips preceding the month of application
    • or
  • recent letter[2] (sample) (JPEG, 55KB) from the employer certifying job designation, commencement date, and breakdown of salaries for 6 months preceding the month of application;

and
Occupier 3 months’ payslips preceding the month of application, or recent letter[2] (sample) (JPEG, 55KB) from the employer certifying job designation, commencement date, and salaries for 3 months preceding the month of application

Notes:

[1] Employed persons have to submit payslips or employer’s letters to show the breakdown of income components received. As income tax returns do not reflect the breakdown of income, they will not be accepted.
[2] For proof of income, all employer's letters must have the company letterhead/ stamp, and the name, signature, and designation of the certifying officer.
[3] A copy of the Credit Bureau report can be requested online, or at any SingPost Branch. Alternatively, you can visit the Credit Bureau Office to obtain a report directly. The Credit Bureau will charge a fee for the report. To expedite processing, please request for the report to be sent directly to HDB.

Self-employed

Application Status Required Documents
Applicant
Occupier Latest Notice of Assessment from IRAS or Certified Annual Statement of Accounts from an audit firm

Note:

[1] A copy of the Credit Bureau report can be requested online, or at any SingPost Branch. Alternatively, you can visit the Credit Bureau Office to obtain a report directly. The Credit Bureau will charge a fee for the report. To expedite processing, please request for the report to be sent directly to HDB.

Commission-based/ Part-time/ Odd job workers

Application Status Required Documents[1]
Applicant
  • 6 months’ commission statements/ payslips preceding the month of application, or recent letter[2] (sample) (JPEG, 55KB) from the employer certifying job designation, commencement date, and breakdown of salaries for 6 months preceding the month of application;
  • Latest 15 months’ CPF contribution history (sample) (JPEG, 89KB);
  • Credit Bureau report[3] (sample) (JPEG, 245KB); and
  • Latest 6 months’ bank statements/ passbook (PDF, 103KB)
Occupier 6 months’ commission statements/ payslips preceding the month of application, or recent letter[2] (sample) (JPEG, 55KB) from the employer certifying job designation, commencement date, and salaries for 6 months preceding the month of application

Notes:

[1] Employed persons have to submit payslips/ commission statements or employer’s letters to show the breakdown of income components received.
[2] For proof of income, all employer's letters must have the company letterhead/ stamp, and the name, signature, and designation of the certifying officer.
[3] A copy of the Credit Bureau report can be requested online, or at any SingPost Branch. Alternatively, you can visit the Credit Bureau Office to obtain a report directly. The Credit Bureau will charge a fee for the report. To expedite processing, please request for the report to be sent directly to HDB.

Unemployed persons

For all applicants and occupiers who are unemployed and aged between 18 and 62, the following documents are required:

Status Required Documents
If full-time student Student Pass or letter from the education institution
If unemployed for less than 3 months
  • Income proof for the preceding month(s) from the previous employer stating your gross monthly income and last day of service; and
  • Latest 15 months’ CPF contribution history (sample) (JPEG, 89KB)

Additional documents if applying for a second HDB housing loan

If you have taken an HDB concessionary housing loan before, and are buying another HDB flat after disposing of the existing one, you have to submit:

  • Completion statements (JPEG, 62KB) showing the breakdown of cash proceeds and CPF refund for the disposal of the last owned HDB flat (if you do not own a flat currently); and
  • Divorce documents showing the division of the matrimonial HDB flat (if the immediate past HDB flat was disposed of with/ by an ex-spouse)

The above applies to both applicants and essential occupiers of the flat application.