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Good morning,

Payment sequence for new launch:

Cash, CPF then loan.

If you are eligible for 75% bank loan, you need to set aside CPF OA funds for 5% foundation.

5% cash (booking fee)
15% downpayment - cash then CPF
balance 5% downpayment - CPF
75% bank loan

Hope my sharing aids in your property needs. Do contact me if you need any assistance.

Best regards,

YT Tan
Property Kaki
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Hi

As you have intention to use CPF for the 15% downpayment, you need to settle all the cash components first before CPF board allow you to draw down CPF funds to fund your property.

The sequence of usage is
cash > cpf > loan

Cpf board will not allow you to draw down unless all cash have been utilized and cash portions settled.

To illustrate

$1mil purchase, assume 150k cash, 130k CPF OA

5% dp cash 50k
3% approx BSD+ Legal cash 30k
15% dp cash and CPF OA 70k + 80k
5% dp (foundation) CPF OA 50k

CPF will need you to settle all the 150k cash payments first before they allow you to draw down the 80k from CPF for part of the 15% dp. They also need you to show a signed bank loan letter of offer with approved 750k loan that bank can disburse, before they will approve any cpf usage.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

Warm Regards,

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Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, the first 5% booking fee will be in cash and then follow by utilising of your CPF funds.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi, appreciate your sharing. Able to seek help of law firm and banker to advise on the mode of payment and depend which stage is the new condo at.
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Dear sir/mdm,

I believe you have already gotten the progressive payment stages answered by my fellow professionals. The basic arrangement is that disbursement of loan will be the last thing after all existing funds available to finance the property purchase has been utilised. Read More

Hi Sir/Mdm,

For New Launch purchase, the sequence of payment is cash first, followed by CPF and your loan. If you wish to use your CPF for 5% or for the stamp duty payment, you will need to set them aside first.

I have assisted my clients in their selection of new launch projects. Please feel free to contact me so that I can give you an overview of the purchase process and assist you further!

Regards,
Nick Tan
(M) +65 96 44 48 54
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### Loan and Payment Structure

1. **Bank Loan Eligibility**
If you're approved for a 75% bank loan, you'll need to reserve CPF OA funds for the 5% foundation payment.

2. **Initial Payments**
- **5% Cash**: This will cover the booking fee.
- **15% Downpayment**: This can be paid using a mix of cash and CPF.

3. **Remaining Downpayment**
- The final 5% of the downpayment can be covered entirely by CPF.
- After these payments, the remaining 75% will be financed through the bank loan.

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