Yes, you will likely need to use part of your cash proceeds from the sale of your matrimonial house for your downpayment. Here's why:
* HDB requires you to use part of the CPF refund and **up to 50% of the cash proceeds** from the sale of your previous flat to reduce the loan amount for your second HDB loan.
* This is to ensure financial prudence and prevent over-borrowing.
However, there are exceptions:
* You can retain **up to S$20,000** of your CPF OA upon using the remaining amount for the downpayment.
* If your cash proceeds are **S$25,000 or less**, you might be able to keep the full amount.
It's best to contact HDB directly or consult an HDB-approved financial institution for a more accurate assessment based on your specific situation.
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