Asked by
Hi
we have 150k in cpf, if we paid downpayment 5% of the new ec in cash 45k and 15% cpf. We still have a balance of about 10k in cpf.Can we use the balance 10k in cpf,to reduce our bank loan from 80% to lower?
0
955 views
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

YT Tan (陈永达)
Hello there!

Yes you may but you have to bear in mind that you will be subject to buyer's stamp duty (pay by cash first and it can be reimbursed by CPF funds).

Unless you have excess CPF funds to pay the BSD as well, if not, your bank loan will stays as 80%.

Hope it helps!

Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior District Manager
R043025D
ECG Property Pte Ltd
(A Wholly Owned Subsidiary of ECG Group of Companies)
Estate Agent no. L3009759F
Blk 190 Lorong 6 Toa Payoh #05-508 S (310190)

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): yttan.stproperty.com.sg/
(W) www.lovelyhomes.com.sg
(W) www.ecgproperty.com Read More
0

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Previously Asked Questions