4 Answers

Clinton Lim
Hi Wenjie,

When you first purchase your condo, you're required to pay a total of 5% cash + 15 % from your CPF. The other 80% can be from your bank loans. And no, you can't take a HDB loan. It applies only for condos.

So if you really decide to buy a condo, it's very important to sit down and work out the financial issues before you commit to anything. You wouldn't want to amount yourself to mutiple debts.

Hope this helps! Feel free to drop me an email at clintonlimzj@hotmail.com should you have any more doubts. I'm more than willing to assist you.
Have a nice day! Read More


  • WL
    Hi Clinton,

    Thanks for your reply. Then can i service the bank loan using my cpf contribution?
Clinton Lim
Stanley Lee
23% = 18% CPF & Stamp duty + 5% Cash
Stamp duty = 3% purchase price - $5400
legal = sub by bank

NO HDB LOAN for PTE. Read More


TC Tan
Hi Wenjie
In summary, to buy a pte condo a buyer is required to pay 5% cash, 15% cpf (if cpf not enough, then from cash), 3% x transacted $ -$5400 as stamp fee, abt $2500-$3000 legal fee a
and mortgage/ caveat fee for transfer (usually bank subsidizes 0.4% of loan or $2500 whichever is lower).
Do note in terms of booking fee in upfront cash when booking for a new and uncompleted condo is 5% followed by 15%(from cpf or cash or both if insufficient cpf) in 8 weeks from OTP date; while booking a resale pte condo is 1% cash upfront when booking for option to purchase followed by 4% cash in 2 weeks during exercising the option. All stamp fee is paid when you exercise the option.
Hope the above summary is made simpler to be understood.
Feel free to call me at 98765130 to extend my 1-stop service from helping you purchase a condo to obtaining a bank loan and legal advice services to make the transaction a smooth one.
TC Tan
Group Director
http://www.dennisweeagent.myweb.sg Read More