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Hi, it's depend on you are taking HDB loan or bank loan. According to your question, I would assume you are taking HDB loan. For HDB loan, the 10% downpayment can be cash or CPF OA (and combination of eligible grants). Grants will be disbursed into your CPF OA account which also can be use as downpayment of the flat.

Feel free to contact me via whatsapp or call at 8938 7686 

Regards,
Mei Foong
 8938 7686 
(CEA Reg No: R063413E) Read More

Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi,

1) When you use an HDB loan, the maximum they allowed you to keep in your CPF OA is $20k each.
2) Let's assume you have $40k in your CPF OA, your downpayment will be as such:
(a) Grant = 70k
(b) CPF OA = 20k
So you are paying a downpayment of 90k instead of 50k.
3) If you only have 20k in your CPF OA, then your downpayment will be solely using grant = 70k.
4) Note that you may use your CPF OA to pay for buyer stamp duty and legal fees.
5) Your option + exercise fee will be part of the downpayment as well so to be exact is 70k+5k = 75k.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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