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My brother and i wish to buy a condo or Ec for my parents who is 60-68yrs old. Can my brother and myself be gurantor for the purchase? In e case my parents do not have cpf, whats the total we need to come up cash for a 1 mil condo including all fees? Can we use our cpf for e deposits and monthly instalment?
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1 Answer

Yian Tay
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Hi Boon Kok, should you wish to purchase a Condo or EC, you would be able to use your CPF only if you are one of the owners of the property. If you are not an owner, you are not permitted to do so.

You can be the guarantor for the loan, depending on your age as well as your income level. In this case, you do not need to be the property owner.

The amount of cash you need to come up with is dependent on how much CPF you have (that is if you are an owner of the unit).

For more details and a consultation, please contact me.

Yian Tay
ERA Realty Network Pte Ltd
Mobile: 82884499 
Email: yiantay.era@gmail.com
CEA Regn - R027190C Read More
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