Asked by Alicia Tan
Hi, I am a S'porean living in a flat at Seng Kang which is valued at around 500K.
We would like to buy a ec at $800K. But we only have 120K in CPF. Our family income is 11k.
We have paid around 200k in cpf for our HDB (which was bought at 376k).
Is there a way we can make a purchase of the condo, using all of the 120K cpf as part of the 20% downpayment? And then sell the flat so as to use the cpf credited back for the condo?
Please advise. Will there be a minimum sum imposed? Because we plan to move house, not buy a second property for investment.
Thanks!
We would like to buy a ec at $800K. But we only have 120K in CPF. Our family income is 11k.
We have paid around 200k in cpf for our HDB (which was bought at 376k).
Is there a way we can make a purchase of the condo, using all of the 120K cpf as part of the 20% downpayment? And then sell the flat so as to use the cpf credited back for the condo?
Please advise. Will there be a minimum sum imposed? Because we plan to move house, not buy a second property for investment.
Thanks!
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