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Hi Agents,
I like to know about the 80% loan.
For e.g. the loan amount is $348k. I am looking into 30years repayment period. The monthly payment is $1,113.00. I like to know out of the monthly payment of $1,113.00. How much percentage am I able to use the CPF and Cash payment? Is the CPF treated as a loan?
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1 Answer

Mike Lim
Replied
Morning Stefan,

If your monthly CPF contribution is sufficient to cover the entire monthly installment amount, then you don't need to top up with cash. Otherwise, whatever balance, you will have to top it up.
All CPF funds used for housing, is charged with interest. As it's being treated like a loan to the house owner.

Do feel free to contact me if you require further assistance.

Mike Lim
 96929209 
ERA Read More
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