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Hi.

If the hdb can last you till 95 years old, and you have yet to turn 55 years old, you can fully utilize the CPF OA for the property purchase. Bank loan minimum is $100k, so you have to plan the financial plan with that requirement in mind.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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Dear sir/mdm,

As what Ivan has indicated, maximising the usage of CPF funds can be done on the scenario he has highlighted and if there is any loan involved, there will also be a minimum loan sum required. Do take note of the interest rates by CPF as well as the bank when you are planning out as you will be required to refund the amount of CPF you have used for the flat including accrued interest when you sell the flat and many home sellers are facing difficulties as they will be facing a situation of negative sale since they have utilised a fair bit of their CPF funds for their purchase.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
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Hi,

Yes, it is possible to use all your CPF monies if you are below age 55, and the flat you purchase can last you till 95 years and beyond.

Do take note that there will still be some form of Cash consideration, in terms of Option Fee and Option Exercise Fee. This can be as low as $2, to not more than $5000. This Deposit has to be in Cash, and cannot be deducted from your CPF.

There will also be a minimum loan quantum of $100k, as banks are unlikely to grant you a loan less than that.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

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