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Dear Agents,

Can I use all my CPF OA for HDB Resale initial down payment? I am 35 year old Single Singaporean (First Timer). For instance, if HDB Resale flat cost $300K, I can only use 10% of property price from my CPF OA (i.e $30K only) or can use all my CPF OA?
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3 Answers

YT Tan (陈永达)
Replied
Good morning Max,

You are able to use your CPF OA funds to pay the 10% downpayment if you are able to obtain a 90% HDB Loan.

I will advise you to apply for Home Loan Eligibility (HLE) first so you can gauge how much can you obtain. Your income should not be more than $5k (income ceiling) to apply for HLE and CPF housing grant.

For the balance CPF OA funds after 10% CPF downpayment, they will be used to reduce the mortgage amount.

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

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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Angela Chua 蔡斯琪
Replied
Hi Max,

If you are taking a HDB loan, all your CPF OA will be swiped out.

Feel free to contact me if you have further queries.

Thank you.

Angela Chua
Propnex Realty Pte Ltd
H/P: 9323 3330  Read More
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Zheng Yanhui(Alex)
Replied
Hi,

You are able to use your CPF OA funds for your 10% downpayment if you intend to get HDB loan. Do contact me at 9273 6096  . I will be glad to do a detailed financial calculation for you.

Regards
Alex
ERA
HP:9273 6096 Read More
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