HI Wengjie,
There is a minimum of 5% cash u need to come out with, and the rest can be paid off using CPF provided u satisfy all regulations on CPF Ruling.
Nevertheless, this 5% if you wish, you can consider below options if u currently already have plans for your savings.
1)Ask around from relatives/friends for this 5% and repay with a reasonable interest. Else, if have an existing property, can consider to refinance. Talk to a banker.
2) Co-share with another investor who has the cash but do not have the capabilities to secure a mortgage loan
However both has their negative effects. The first one you may end up paying both mortgage loan and the loan taken for the downpayment. The second one u may is objections when in the near future, either one of you wants to sell the apartment and the other does not want to, when faced with financial difficulties.
Hope it helps.
Cheers,
Brandon - ERA Marketing Director
HP: 8233 23 23
Email: aw.brandon@gmail.com
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