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After the recent hoo ha on the cpf ruling revision, so exactly how much we can use our cpf monies to pay for initial downpayment when buying a private property now? Currently is minimum must have $75k in cpf (combined) right?
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2 Answers

Mike Lim
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Morning,

CPF minimum sum need to be set aside if you are buying residential unit after you hit the age of 55 or when you are buying your second property where you have utilized CPF for the first. Assuming that you did not fulfill either requirement, you are not required to set aside the CPF minimum sum.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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YT Tan (陈永达)
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Good morning,

The initial CPF downpayment will be based on how much loan can you obtain from banks.

If you can obtain up to 80% bank loan, your CPF downpayment will be 15% (cash if shortfall) to make up 20% downpayment with 5% cash.

Minimum sum is $77.5k (OA + SA) if you have utilized your CPF OA funds in your current property (if any) or you have reached age of 55 and above.

If you need any assistance in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More
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