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Hi,

I m a Singapore PR since 2011 and I dont own any property here currently. Can I utilize my entire CPF OA Savings as downpayment for buying a condo or should I maintain a minimum of 20k in my CPF OA account ?

Thanks
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4 Answers

YT Tan (陈永达)
Good afternoon Prashanth,

You can utilise your entire CPF OA funds for the 15% CPF downpayment and stamp duties.

Do take note that you need to buy 5% additional buyer's stamp duty as a SPR.

Hope my explanation helps!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
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(W): www.propertyavenue.com.sg Read More
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  • PR
    Thanks for your response. Do you have 2 bedroom ECs or condos which are in ready to occupy position within this price range [ 400k - 500k ]
Hi,

Yes you can utilize the CPF OA fully for your downpayment and stamp duties, if there is sufficient monies. As a PR 1st property purchase, 5% ABSD is also payable. Thanks and may I understand your requirements further so as to assist?

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
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  • PR
    Thanks for your response. Do you have 2 bedroom ECs or condos which are in ready to occupy position within this price range [ 400k - 500k ]
Hi,
Yes you can used all your cpf for the downpayment.
May I assist you in the entire process to ensure you had a smooth transaction in getting a home here.
Look forward to hear from you.
Tricia Tan 91442664  Read More
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  • PR
    Thanks for your response. Do you have 2 bedroom ECs or condos which are in ready to occupy position within this price range [ 400k - 500k ]
Hi Mr Raja,

You can indeed utilize all of CPF OA for the purchase.
Let's get in touch at +65 96659926  for me to understand your requirements, expectations and objectives.

Have you gotten your loan approval done? If not, I can link you up to my network of bankers and they will assist you with the IPA, furnishing you with the different bank rates for your perusal, at no cost.

Following that, I will proceed to chart your financial cash projection flow and breakdown of progressive payments and it's timeline to assess and suggest options to you which will value add your portfolio + maximize your interest and welfare.

Do note that there is NO agent fees involved and I will walk you through this whole tedious process of : explanation of procedure, shortlisting, negotiation, paperwork, establishing financial projections / application of loan, sharing of market insights, providing up to date transaction caveats & price analysis of properties as well as handling all technical and legal matters at NO cost!

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com

#1 team of ERA in Singapore, Asia Pacific International for 2014.

ERA 2015 Q1 Top Achievers (Top 1% of ERA)
ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group
2015 April ERA Top Achievers
2015 February ERA Top Achievers
2014 Aug/Sept/3rd quarter/Dec/ overall 2014 ERA Top Achievers Read More
0
  • PR
    Thanks for your response. Do you have 2 bedroom ECs or condos which are in ready to occupy position within this price range [ 400k - 500k ]

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