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Hi, my wife and i are Singapore PR, wish to purchase first property (2nd hand resales HDB) in Singapore. Do i need to set aside half of minimum sum in CPF before using CPF savings to make any payment? Thanks
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2 Answers

Mike Lim
Replied
Afternoon,

As you have indicated that this is your first purchase, you will not be required to set aside the CPF minimum sum for the purchase. However, both of you must be SPR for more than 3 year. You are eligible of bank loan and ABSD of 5% is payable.

Do contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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YT Tan (陈永达)
Replied
Good evening Wei Wah,

You dont have to set aside minimum sum for your first purchase as its only applicable for buyers who are purchasing a second property when they have already utilized CPF OA funds in their first property.

But to take note that to be eligible to purchase a resale HDB, both of you must have fulfilled SPR status for at least 3 years.

Hope my explanation helps!

If you need any assistance or advice in your property purchase, feel free to contact me.

YT Tan
 9111 5171 
yt.lovelyhomes@gmail.com
www.yttan.com Read More
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