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Hi,

Yes you can use the full 400k in the CPF OA to fund the property purchase. The rest can be a combination of cash and loan. Yes you can also use your monthly OA contribution of 1.2k/month to service the monthly mortgage as well.

Assuming 1.6m purchase price, typical breakdown for SC 1st property purchase as follows:
Cash 5% (minimum)
CPF 15%
Max bank loan 80%
Stamp duties and legal fees approx 3%

However, based on info provided, with a max 900k loan, 400k CPF OA, you be looking at a balance of about 350k cash top up for the balance of the purchase price and stamp duties.

I have worked with buyers with similar scenarios and will be glad to share with more on how best to approach this. May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
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Ivan is a young agent filled with dedication for his work. He seeks to stay long in this career.

I seeked out his service among a sea of agents as his belief on his website is credibility. I need an agent who is honest and provide me the knowledge needed to navigate the property market. Ivan's commitment and earnestness made up for his young age.

He has made a promise to find a good tenant for me in two years time when the condo completes, and I appreciate this commitment"

--- HDB Flat Buyers Mr. & Mrs. Lau ---

"As 1st-timer Buyers we had plenty of questions, and were uncertain on how best to proceed. A discussion with Ivan cleared our doubts and our plans could progress quickly. We are comfortable with his working style as he is not pushy, and tries to think from our point of view.

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Hi Ms Buyer,

The typical breakdown based on the maximum 80% loan would require minimum 5% cash and the rest can be paid through CPF.

The minimum 5% cash portion is compulsory before you can utilise your CPF.

As for using your OA to service the monthly instalments, yes this can be done.

Do contact me at 91708295  and I will share with you in further detail and assist you.

Bhavina Kaur
ERA Realty

+65 9170 8295 
bhavina7777@gmail.com
investbuysellrent.com
facebook.com/hellobhavina Read More

Hi,
For the purchase, below are the cost breakdown
- 5% cash
- 15% cash and/or CPF
- 80% cash and/or CPF or loan
- 3% for stamp duty and legal fee on cash or CPF

1. you can utilized all the 400K in OA for the property payment
2. you can utilized all the 1200 credited monthly to you OA for monthly instalment

In fact base on you monthly income of 8.5K, the estimated is up to 1 million. After utilized the 400k in your CPF, you will need to top up cash of at least around 250K.

To assist and advise you more in details, kindly drop me an email for me to share.

I am contactable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More

Hi ,

Assuming 1.6m purchase price, typical breakdown for SC 1st property purchase as follows:
Cash 5% (minimum)
CPF 15%
Max bank loan 80%
Stamp duties and legal fees approx 3%

Private property transactions is my niche market and will be glad if you could furnish me with more information so that I can FULLY understand your requirements and specifications to be able to succinctly shortlist and come up with a customized list of units for you to view at no obligation! If you may not have already known, engaging a realtor to represent you in your purchase does not make you liable for any fees. In a nutshell, you pay nothing for my service and consultation but I assure you of handling the entire technicalities of the rental to best protect and maximize your interest.

I will walk you through the entire process, shouldering all the responsibilities- assisting you all the way from finding the perfect unit to negotiating for the best price to post deal paperwork. I will also provide you with the rental transaction caveats and rental report to further enhance your understanding of the market sentiments.

Visit my website to view all my recent accolades - esteemed awards and testimonials to gather more information on me: www.kumarrai.com

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

#1 team of ERA in Singapore, Asia Pacific and international for 2014.

About Me-

ERA Top Achievers 2013/14
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2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
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Hi Ms J,

Based on your income, assuming that you do not have other financial obligations such as car loan, you will be able to secure a loan of 1.02 mil over 25 years. Monthly mortgage based on 1.5% interest rates will be about $4080.

For a 1.6 mil property, you will need:

5% Cash - $80,000
15% CPF - $240,000
Stamp Duty - $42,600
Legal Fees - $2000
Shortfall in loan (to top up by CPF) - $1,280,000 - $1,020,000 = $260,000

You may use the full $1,200 of CPF contribution for the payment of the mortgage. Please feel free to contact me so that I can understand your objectives better and provide you with further assistance.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Testimonial from Satisfied Clients (2016)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefitted a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
Ms Chia (Buyer)

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We are very happy and satisfied with his services and will definitely recommend him to our friends and family in the future.”
Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Morning Ms. J,

Assuming you are getting property of S$1.6 mil, the following is the breakdown for SC buyer:

1) 5% cash down payment: $80k
2) 15% CPF down payment: $240k
3) Requirement loan: $1.28 mil
4) Cash top up based on available loan: $380k
5) Legal and Stamp fee: $46k (Payable by CPF OA)

Do feel free to contact me should you require my assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi Ms J,

You can fully utilize your CPF-OA of $400k for your first purchase. You can also send instructions for your monthly mortgage installment to be paid using the monies going into your CPF-OA every month. Shortfall will then be in Cash.

Also, based on your age and income provided, assuming you're salaried and has no other financial commitments, you should be able to get about $1 million in loan.

Here's a breakdown on the figures:
Property purchase price $1,600,000
Loan (assumption) $1,000,000
5% Cash downpayment $80,000
CPF downpayment $400,000
Stamp Duty $42,600
Legal Fee $2,500
Cash Shortfall $120,000

Total CASH outlay for the purchase: $245,100
Total CPF outlay for the purchase: $400,000

As for monthly mortgage installment, a $1,000,000 loan over 25 years at interest 1.8%, is $4142 per month.

After deduction of your monthly CPF-OA contribution of $1200, you will have to top up $2942 in Cash.

Should you need any 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