4 ways to use your CPF for your private property


4 ways to use your CPF for your private property.pngUnder the Private Properties Scheme, you can use your Ordinary Account (OA) savings to:

  • pay the purchase price of the private property;
  • repay the housing loan in part or whole and/or to service the monthly housing loan instalments taken to buy the private property;
  • repay the housing loan in part or whole and/or to pay the monthly instalment of the housing loan taken for the construction of a house or purchase of land and construction of a house on that land*; and
  • pay the stamp duty, legal costs, survey fees and other related cost incurred in the private property purchase, refinancing and/or construction of the house.

To ensure you have enough CPF savings for your retirement years, there are housing limits on the amount of CPF savings you can use to buy a private property. 

Source: CPF Board

For a non-obligation discussion on Cpf usage on properties or any real estate matters, pls feel free to contact Irene @ 98469648. Cheers!

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