Asked by Anonymous
Hi,
First time HDB Buyer and I am interested in getting a resale flat under Family Nucleus with one of my parent. However, I am confused with how CPF Grant will be paid. Please do let me know which of the example that I have shown below is the correct one.
Example 1 :
$500K (HDB Price)
$425K (85% Loan)
Remaining $75K downpayment
Use $60K Grant to pay downpayment
$15K Left downpayment
Use OA to pay $15K remaining downpayment
Example 2 :
$500K (HDB Price)
$60K CPF Grant
$440K (HDB Price after Grant)
$374K (HDB Loan)
$500K - $374K =
$126K Downpayment
Use OA to pay for $126K Downpayment
First time HDB Buyer and I am interested in getting a resale flat under Family Nucleus with one of my parent. However, I am confused with how CPF Grant will be paid. Please do let me know which of the example that I have shown below is the correct one.
Example 1 :
$500K (HDB Price)
$425K (85% Loan)
Remaining $75K downpayment
Use $60K Grant to pay downpayment
$15K Left downpayment
Use OA to pay $15K remaining downpayment
Example 2 :
$500K (HDB Price)
$60K CPF Grant
$440K (HDB Price after Grant)
$374K (HDB Loan)
$500K - $374K =
$126K Downpayment
Use OA to pay for $126K Downpayment
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