Asked by Anonymous
If my monthly income entitles me to borrow only up to $280K from banks for HDB resale flat, technically I will be looking at buying a HDB of max value $373K ($280K / 75%) and the downpayment would be ~$93K (min 5% $18K to be paid by cash, bal 20% $75K can be paid by CPF).
What if I have excess CPF OA balance, let's say $120K, can I actually look for a property of higher price say $400K, pay a higher downpayment upfront (min 5% $20K pay by cash, $100K pay by CPF), but still loan only $280K from the bank?
What if I have excess CPF OA balance, let's say $120K, can I actually look for a property of higher price say $400K, pay a higher downpayment upfront (min 5% $20K pay by cash, $100K pay by CPF), but still loan only $280K from the bank?
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