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I am buying an EC under deferred payment scheme, and I am paying the first 20% by cash.

I would like to use Cash + 30K EC Housing Grant for the first 20%, and only secure a loan when TOP.

My question is - does using the 30k CPF EC Housing Grant for the first 20% down payment count as using CPF monies?

I understand that before I can use CPF for any part of the purchase, I need to have Letter of Offer from the bank.
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4 Answers

Hi,

Yes the grant is credited to your CPF OA first before its disbursed, hence this means the Letter of Offer is required. Not to forget, there are also the stamp duties and legal fees involved as well.

Perhaps may I understand your scenario better so to see if there are other workarounds? May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. By the way, it is advisable that you have the LO ready even before you pay the deposit.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Robbie Chen Chee Howe
Hi,

Yes, you're right. You will be required to have a valid Bank letter of offer.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Thea Hoi Shu Min
Good day to you! I would be more than happy to assist you in the house purchase.

I believe property is a big ticket purchase and there are many details and information in the market that can be confusing. Rather than product pushing, unlike other agents, what I like to do is to go through the market sentiments with my friends and clients.

Topics such as
1. Over supply
2. How to time the market cycle
3. Most importantly, how the current situation in Singapore will affect the property prices.
4. Why today's market is a sweet spot where you will see 15% returns in the next few months.

Feel free to give me a call at 81255537  or email me anytime to set up an appointment with you (virtually) so that i can run through this with you. Thank you!

Warmest Regards
Thea
 81255537 
thea@theahoi.com Read More
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