Asked by Anonymous
Hi, I am a SG citizen and I am going to buy a resale flat with my spouse who is a PR.
1) Should I use my CPF grant to reduce the total price or should I add it into my cpf account?
2) If I add the 15K grant into the cpf, can I use the total amount (ordinary account + cpf grant) to pay the 15% down payment (for bank loan) and stamp duty?
3) For a 450K flat with a bank loan and 60K in cpf ordinary account, how much cash component do I need? What is the best way to use my cpf grant in order to have a lower cash requirement?
Thanks.
1) Should I use my CPF grant to reduce the total price or should I add it into my cpf account?
2) If I add the 15K grant into the cpf, can I use the total amount (ordinary account + cpf grant) to pay the 15% down payment (for bank loan) and stamp duty?
3) For a 450K flat with a bank loan and 60K in cpf ordinary account, how much cash component do I need? What is the best way to use my cpf grant in order to have a lower cash requirement?
Thanks.
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