Loan-to-Value (LTV) on/after 6 July 2018

Total Debt Servicing Ratio (TDSR)

The TDSR was implemented to prevent you from being financially overextended because of a property purchase beyond your means. The TDSR limits the amount you can borrow for a mortgage loan to 60% of your gross monthly income less any outstanding debts you have. These outstanding debts include:

  • Credit card balances (including "instalment plans" with retailers)
  • Student loans
  • Personal loans
  • Car loans
  • Other home loans (if applicable)

Use of CPF

The Private Properties Scheme (PPS) enables CPF members to use their CPF Ordinary Account savings to buy or build private residential properties in Singapore for their own occupation or investment.​

All CPF members who are eligible to buy a private property are eligible to use their CPF savings under PPS.

You are not eligible if:

  • you are buying a private property with a remaining lease of less than 30 years;
  • you are buying a private property with a remaining lease of less than 60 but at least 30 years and your age plus the remaining lease of the private property is less than 80 years;

FAQs

FREQUENTLY ASKED QUESTIONS

Progress Payment

Buyer : Singaporean, 1st property, Age 35 & below, $5,614 Gross Monthly Income with No Commitment (Car Loan, Study Loan,,,)
Purchase Price $1,000,000 Pay to Developer By
On booking the unit & obtaining the Option to Purchase (Booking Fee) 5% $50,000 Cash Only
Within 8 weeks from date of the Option to Purchase (OTP) 15% $150,000 Cash, CPF
Buyer's Stamp Duty (BSD) 3% Less $5,400 $26,400 Cash, CPF
Additional Buyer's Stamp Duty (ABSD) NA NA NA
Estimated Legal Fee $3,000 Cash, CPF
5% On completion of foundation work 5% $50,000 Cash, CPF
Total Fund Needed (Cash + CPF) $227,600 Min. $50,000 Cash + CPF
Home Loan = $750,000 (75%) @ 2% Interest Rates for 30 Years Bank

Disbursed

Est. Monthly Installment Pay to Bank By
5% On completion of foundation work 5% $185 Cash, CPF
10% On completion of reinforced concrete framework 15% $561 Cash, CPF
5% On completion of brick walls 20% $750 Cash, CPF
5% On completion of roofing 25% $941 Cash, CPF
5% On completion of door, window frames, electrical wiring (without fittings), internal plastering and the plumbing 30% $1,134 Cash, CPF
5% On completion of car park, roads and drains serving 35% $1,328 Cash, CPF
25% On Temporary Occupation Permit (TOP) >> Key Collection 60% $2,309 Cash, CPF
15% On Certificate of Statutory Completion (CSC) >> Est. 1 year from TOP 75% $2,915 Cash, CPF

Progress Payment

Buyer : Singaporean, 2nd property, 1st Home Loan, Age 45, $6,175 Gross Monthly Income with No Commitment (Car Loan, Study Loan,,,)
Purchase Price $1,500,000 Pay to Developer By
On booking the unit & obtaining the Option to Purchase (Booking Fee) 5% $75,000 Cash Only
Within 8 weeks from date of the Option to Purchase (OTP) 5% $75,000 Cash Only
10% $150,000 Cash, CPF
Buyer's Stamp Duty (BSD) 3% Less $5,400 $44,600 Cash, CPF
Additional Buyer's Stamp Duty (ABSD) 12% $180,000 Cash, CPF
Estimated Legal Fee $3,000 Cash, CPF
On completion of foundation work 10% $150,000 Cash, CPF
On completion of reinforced concrete framework 10% $150,000 Cash, CPF
On completion of brick walls 5% $75,000 Cash, CPF
Total Fund Needed (Cash + CPF) $902,600 Min. $150,000 Cash + CPF
Bank Loan = $825,000 (55%) @ 2% Interest Rates for 30 Years Bank

Disbursed

Est. Monthly Installment Pay to Bank By
5% On completion of roofing 5% $279 Cash, CPF
5% On completion of door, window frames, electrical wiring (without fittings), internal plastering and the plumbing 10% $561 Cash, CPF
5% On completion of car park, roads and drains serving 15% $842 Cash, CPF
25% On Temporary Occupation Permit (TOP) >> Key Collection 40% $2,269 Cash, CPF
15% On Certificate of Statutory Completion (CSC) >> Est. 1 year from TOP 55% $3,148 Cash, CPF

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