1 Answer

Mike Tay
Dear Omar

You have raised a 2 topics in your questions.

First, you cannot buy any property with just CPF. You have to use cash for initial downpayment.

Second, you cannot buy residential private property within your HDB MOP period. Both you and your wife will be the owners and co-owners. This is independent of whose CPF account is used.

For the 1st mortgage, you are entitled to maximum 80% loan.

a. Initial downpayment of 1%+4% must be cash by cheque or cashier order (for HDB minus the $1000+$4000 paid)

b. The next 15% can be in cash or/and CPF.

c. Note also stamp duty is 3%-$5400 within 14 days of exercising your OTP or S&P.

For your 2nd mortgage, you are entitled to maximum 60% loan.

If you find this confusing, give me a call at 97455178 for a NO OBLIGATION discussion.

Please call me at (65)-9745-5178 or email miketayse@hsr.com.sg for any clarification.

Thks & regards,

Mike Tay (郑树荣)

B.Sc. (NUS), EMBA (SUNY)
CEA Reg:R042367C

M: +65 97455178
E: miketayse@hsr.com.sg

HSR International Realtors Pte Ltd
Estate Agent Reg No: L3002226G Read More

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