How much CPF can I use for monthly housing loan payment

In Singapore, the amount of CPF (Central Provident Fund) you can use for monthly housing loan payments depends on several factors, including the type of property and the type of loan you have.

HDB Flat with HDB Loan

If you are purchasing a new HDB flat (BTO) with an HDB loan, there is no limit to how much CPF savings you can use for the downpayment and monthly repayments.

HDB Flat with Bank Loan

For an HDB flat financed by a bank loan, you can use up to 20% of the purchase price from your CPF Ordinary Account (OA) for the downpayment, with a minimum of 5% paid in cash. For monthly repayments, you can continue to use your CPF OA funds, but you must ensure you have enough cash to cover any portion not covered by CPF.

Private Property with Bank Loan

If you are purchasing a private property with a bank loan, you can use up to 20% of the purchase price from your CPF OA for the downpayment, with a minimum of 5% paid in cash. The limit for using CPF for the entire purchase is capped at 120% of the Valuation Limit (VL) of the property. This means you can use CPF to pay up to 120% of the property's valuation or purchase price, whichever is lower, for both the downpayment and subsequent monthly repayments.

General Guidelines

• For all properties, you can use CPF OA funds to pay for the initial downpayment, monthly loan repayments, stamp duties, and other related fees such as legal fees and the Home Protection Scheme (HPS) premium for HDB flats.
• Any leftover portion of the purchase price not covered by the home loan can be paid using CPF or cash.
• It's important to note that using CPF for housing payments will require you to refund the used CPF amount along with accrued interest when you sell the property.

To manage your CPF usage for your home, you can log in to the CPF website with your Singpass and follow the steps to apply for or adjust your CPF deductions for your home loan.