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I am a 36 year old Singaporean without existing property or loan now. Can I use 100% of my CPF for buying a private property? Just thinking if CPF minimum applies to my case.

My budget is about $1.2M for a 3-bedder property in the East.
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2 Answers

Ivan Ng
Replied
Hi,

Sure you can use your CPF OA fully to fund your property purchase, since its your 1st property purchase and you have no loan. Minimum Sum requirements do not affect you if its your first property purchase. However, there is a minimum 5% cash downpayment, as the max bank loan is only 80%.

I am active in the East area, and presently marketing 2 units at The Palette at Pasir Ris Grove (TOP soon). May I understand your requirements further and value-add to your housing plans?

Warm regards,
Ivan ERA
 97432395 
ivanng10@gmail.com
www.ivanng10.com Read More
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Mike Lim
Replied
Afternoon,

At your current age, CPF minimum sum have no impact on you. You are eligible to utilize 100% of your CPF OA for purchase of residential property. If you are getting a bank loan, 5% cash and 15% CPF is required for down payment, with 80% loan approval.

Do contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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