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I intend to purchase a condo and rent out my fully paid HBD flat (MOP already 11 years).
Q1. Can i use my CPF (OA or SA)to pay for the 15% down payment? (after that will be zero)
Q2. Do i need to have any minimum amount left in OA & SA?
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2 Answers

Mike Lim
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Morning William,

Since you don't have existing housing loan, bank can loan you up to 80%. 5% must be cash, while the remaining can be in CPF / cash / CPF + cash.
Depending on your age, you might need to leave a certain sum behind. However, for one of my client, who is 54 y/o, he was able to utilize all his OA for downgrading.

FYI.
Mike Lim
 96929209 
ERA Read More
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Landon Chew
Replied
Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me.

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More
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