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I had bought a first property (condo) in 2001 and sold in July this year. I do not own any property at all now. I intend to buy another resale one but not sure if I can pay 5% by cash and all the remaining 95 % all by CPF ? Pls advise. SEE
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2 Answers

Mike Lim
Replied
Afternoon,

Yes, as you do not have any existing mortgage under your name, the bank can lend you up 80% of valuation or buying price, whichever is lower. But according to your statement, you already have 95% worth of CPF and only want to loan that 5% from bank. If that's the case, I would say that it cannot be done.

Do feel free to contact me if you require further assistance

Regards
Mike Lim
 96929209 
ERA Read More
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Mike Lim
Replied
Afternoon,

Yes, as you do not have any existing mortgage under your name, the bank can lend you up 80% of valuation or buying price, whichever is lower. But according to your statement, you already have 95% worth of CPF and only want to loan that 5% from bank. If that's the case, I would say that it cannot be done.

Do feel free to contact me if you require further assistance

Regards
Mike Lim
 96929209 
ERA Read More
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