What is the payment schedule for private resale and when can you use your CPF

Initial Payment for Resale Price

If taking a housing loan from HDB or not taking any loan:

• Pay a 10% initial payment based on the resale price or valuation price of the flat, whichever is lower.
• Use CPF savings or CPF Housing Grant or a combination of both.
• If there is a shortfall, pay the balance in cash.

If taking a bank loan:

• Loan ceiling of 75%:
  • Pay 5% in cash.
  • Balance 20% with CPF savings, CPF Housing Grant, cash.
• Loan ceiling of 55%:
  • Pay 10% in cash.
  • Balance with CPF savings, CPF Housing Grant, cash.
• Loan ceiling of 45% or lower for 2nd home loan:
  • Pay 25% in cash.
  • Balance with CPF savings, CPF Housing Grant, cash.

Using CPF for Private Residential Property

Private Properties Scheme (PPS):

• Use CPF OA savings to buy or build private residential property for investment or occupation.
• Can be used to:
  • Pay the purchase price of the private property.
  • Repay housing and construction loans and/or service monthly loan instalments.
  • Pay stamp duty, legal fees, and other related costs such as construction.

Additional Conditions for Use of CPF Savings:

• Cannot use CPF savings directly for land cost and construction costs.
• Use own funds and/or a loan first.
• After house completion up to Temporary Occupation Permit stage, use CPF savings to repay the loan.
• Reimbursement of land and construction costs paid with own funds allowed if house constructed on or after 1 Oct 1993 and construction commenced within six months from land purchase completion date.
• Requests for reimbursement must be made within six months after Temporary Occupation Permit issue.
• Reimbursement is a one-time payment; monthly withdrawals not allowed.
• Submit applications three months before Temporary Occupation Permit issue with required documents.