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Morning Vadivel,

If you are taking HDB loan or your CPF OA is sufficient to cover the purchases price, it's possible to get a 3 room flat using purely CPF.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi Mr Sarkunam,

Yes, it is possible purchase a 3room HDB with no cash and only CPF. There are some conditions attached for the eligibility. I have seen your other posting. You would need to be a local to apply for the (HLE) housing loan from HDB. Maximum HLE is 90% loan and rest by CPF. You would need to apply under the Single Scheme (aged 35 and above to be eligible).

Let's take a 3 room HDB that I have a listing in Yishun near Yishun MRT (2 blocks away) at $310k. If you could get the max 90% of HLE, your 80K in the CPF is sufficient to cover the whole purchase.
Example HLE 279K,10% downpayment 31k, buyer stamp duty 4.4K, other fees like legal, valuation, fire insurance approx 1k.

Kind Regards
Josef Read More

Hi Mr Sarkunam,

To answer your question on bank loan, you are eligible for up to 80% of purchase price (subject to eligibility conditions like monthly income, age, credit history, other loans, etc.) A minimum of 5% must be in cash and the rest through CPF.
Do contact anyone of us to assist to you in the process of getting your home. Read More