AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
I don't quite understand the statement "Resale flat from HDB: 100% valuation limit or up to full OA if half of the prevailing Minimum Sum met". I am 35 year old Single Singaporean. Couldn't I use all my CPF OA for initial downpayment? I have 70K in my CPF OA. I am aiming for 3-room Resale HDB flat (about $300K). I am thinking about using HDB Loan $230K + OA $70K. Please advise. Thanks.
0 •
839 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

1 Answer

Mike Lim
Replied
Morning Max,

If you are taking HDB loan, your down payment can be paid using CPF OA and the figure will be 10% of valuation price. Since this is your first purchase, you are not required to set aside the CPF minimum sum.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
Upvote Upvoted
  • MK
    Replied
    Thanks for prompt reply. Does it mean I can use all my CPF OA for down payment? For instance, if HDB flat cost $300K, I can only use 10% of my CPF OA (i.e $30K only) or can use all my CPF OA.

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions