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Hi,

I am eligible for the Singles, EHG & Proximity grants from HDB.

The above grants will be crediting into my CPF OA account soon. As I have some spare cash to pay off the 25% down payment for my resale flat.

Any idea is it possible for me to retain all the grants together with my remaining CPF OA balances to service my bank monthly housing loan installment instead of using the grants for the initial down payment?

Thank you.
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1 Answer

Robbie Chen Chee Howe
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Hi,

If you're taking up a bank loan, you could instruct your lawyers to pay the downpayment according to what you wish, with a minimum of 5% Cash.

If you're taking a HDB loan, you will have to utilize all (except for up to $20k) of your CPF monies for the purchase.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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