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How do i finance my property purchase? |
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Buyer can use cash savings, CPF, and a housing/mortgage loan to finance the property purchase. However, the maximum housing loan for private properties and HDB flats should not exceed 90% of the purchase price or valuation of the property, whichever is lower.
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| HDB flat using concessionary loan | CPF Ordinary Account savings can be used to pay the full downpayment | | HDB flat using a bank loan | Flat buyers must pay 5% of the downpayment in cash. The balance can be paid using CPF | | Private property using a bank loan | CPF can be used to pay the purchase price of the property after paying the first 5% of the purchase price in cash.
For Executive Condominium, if you are eligible for the Housing Grant, you can use the grant to pay the the 5% cash payment. CPF may only be used after you have paid the 5% cash payment. |
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