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HI there, if this is your first property purchase, you should be able to utilize your OA for your 15% downpayment as well as any portion of the purchase price your OA can cover. However, if you are above the age of 55 or thinking about your second purchase. you will have to set aside a min sum in your OA before you can use your CPF. Do drop me a call or e mail for a more detailed discussion before you embarked on your purchased.
Cheers
Rix Jim
 9687 1379 
rix.jim@hotmail.com
Propnex Read More

Good morning buyer,

are you referring to HDB or private purchase?

I had assisted my client to purchase a resale HDB without loan which he basically use his CPF OA funds to pay for the unit.

It seems like you will still need to obtain a 80% bank loan. In fact, after 15% CPF downpayment, you can use your CPF OA funds for stamp duties deduction and reduction of housing loan.

Hope my explanation helps!

If you need any assistance/ advice with your property purchase. feel free to contact me. Cheers!

YT Tan
 9111 5171 
yt.lovelyhomes@gmail.com Read More

Hi,

CPF usage depends on whether if this is a 1st or 2nd property purchase. Which case do you fall under?

For 1st property purchase, if there's still CPF in your OA after downpayment, you can use it to offset the purchase price and take up a lesser loan, and pay for stamp duties.

For 2nd property purchase, minimum sum requirements apply and cpf usage is more restricted.

Please allow me to value-add further by sharing more of your housing plans details. Thanks.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com
Www.ivanng10.com Read More

Hi there,

Please feel free to contact me at 96659926  for a non obligatory discussion for me to better understand your requirements and specifications to be in a better position to advise you further in the most detailed and thorough manner, to chart your financial flow and elaborate more on the use of finances for your purchase.

Visit my website to view my testimonials & recent awards to gather more information on me: www.kumarrai.com

Look forward to hearing from you!

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

About Me-

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Good afternoon buyer,

Apologies for late reply. Propertyguru doesnt prompt me when you replied to my post.

Yes you can use CPF OA funds and cash to fund your purchase in full. My HDB buyer did so in the past too.

FYI The withdrawal limit of CPF OA fund is 120% of the valuation limit (VL) which is the lower of the purchase price or market value of the property at the time of purchase, as assessed by the Board.

Hope my explanation helps!

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

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com Read More