How much cpf can i use for property

This has resulted in some debates over the years, regarding how much of our CPF we should use; or whether HDB upgraders should be using more cash instead.

In the following guide, we clarify how — and how much — of your CPF can be used when purchasing various properties:. For bank loans, some law firms can be paid through your CPF, but others may require you to pay cash — do check before appointing the firm.

Otherwise, you can pay part of it in cash, and part of it with your OA e. The first five per cent of the property must be paid in cash , while any combination of cash or CPF can be used for the next 20 per cent.

For example:. If the property is sold above the actual valuation both HDB and private. The property must have a remaining lease of more than 20 years.

Otherwise, you cannot use any CPF monies to purchase the property. Besides this, your age is also a factor:.

The age of the youngest owner, plus the remaining lease, should equal or exceed 95 years. If it would be less than 95 years, maximum CPF usage will be pro-rated, based on how near the lease comes to lasting till For example, say you are 35 years old, and your spouse is 28 years old.

The estimated time taken to hit the WL is 27 years and 4 months. Once you hit the WL, you will need to use cash to pay the remaining housing instalments. Stay connected with us for key CPF updates, events, useful tips and more via email!

Turn on more accessible mode. Turn off more accessible mode. A Singapore Government Agency Website. Our First Home Calculator. CPF Retirement Calculator. CPF Withdrawal Calculator. Savings Calculator. In addition to paying for all or part of the purchase price of your house and servicing mortgage payments, you can also use your CPF OA savings to cover miscellaneous costs such as stamp duty and legal fees, and other related costs such as flat upgrading. However, the amount of CPF savings you can use will be determined by when your second or subsequent property was purchased.

However, keep in mind that these grants come at a cost and you have to pay accrued interest on the grants. If you sell your property, you need to pay back the grants as well as other CPF amounts used to fund your home purchase into your CPF accounts with accrued interest.

Executive Condominiums EC are a hybrid between public and private housing, where they are built and sold by private developers, but sold at a lower price due to subsidised land prices. ECs are still subject to HDB regulations.

With the various grants and subsidies given by the government, owning your dream home may no longer be a distant goal. Subscribe to get investing insights and curated articles worth reading from around the world delivered straight to your inbox. Endowus Learn more. How much of your CPF can you use?