How to Use CPF for HDB Down Payment | Homejourney Guide
You can use your CPF Ordinary Account (OA) savings, along with cash and applicable grants, to pay the HDB down payment of 25% for both BTO and resale flats in 2026. This applies whether you're taking an HDB loan or bank loan from partners like DBS, OCBC, or UOB.[1][2][4] Homejourney makes this process safer and easier with our eligibility calculator at https://www.homejourney.sg/bank-rates#calculator, ensuring you verify your finances transparently before committing.[1]
Why Use CPF for Your HDB Down Payment?
CPF OA savings are the primary source for HDB down payments, allowing first-time buyers to leverage government-backed funds without depleting personal savings entirely.[4] In 2026, the Loan-to-Value (LTV) limit is 75% for both HDB and bank loans, meaning a standard 25% down payment.[1][2] Grants like the Enhanced CPF Housing Grant (EHG) up to $120,000 for families or $60,000 for singles are credited directly to your CPF OA, reducing your out-of-pocket costs.[1][5]
Homejourney prioritizes your safety by verifying eligibility upfront. Use our bank-rates tool to compare rates from DBS, OCBC, UOB, HSBC, and more, while calculating how much CPF you'll need.[1][2]
Eligibility to Use CPF for HDB Down Payment
To use CPF OA for down payment, you must have a valid HDB Flat Eligibility (HFE) Letter and sufficient savings after reserving funds for premiums like Additional CPF Housing Grant (AHG).[4] First-timers buying BTO flats qualify for up to $80,000 in EHG, while resale buyers can get up to $190,000 combining EHG, Family Grant, and Proximity Housing Grant (PHG).[2][7]
Key requirements:
- Be a Singapore Citizen or Permanent Resident household.
- Meet income ceilings for grants (e.g., $9,000 monthly for EHG).[5]
- Have CPF OA balance covering your share after grants and cash minimums.[4]
Pro tip: Young couples (one applicant ≤30 years) under the Deferred Income Assessment Scheme pay just 2.5% initially for BTO flats.[1][3] Check your eligibility on Homejourney's platform for instant insights, building trust through verified data.
Step-by-Step: How to Use CPF for BTO Down Payment
BTO down payments follow the Staggered Downpayment Scheme for eligible buyers, spreading payments across two stages.[1][2][3]
- Obtain HFE Letter: Apply via HDB portal with Singpass. Homejourney's calculator auto-fills via Singpass for accuracy.[4]
- Book BTO Flat: Pay option fee in cash (typically $1,000-$2,000).
- First Instalment (Sign Agreement for Lease): 5% (HDB loan) or 10% (bank loan: 5% cash + 5% CPF/cash) using CPF OA or cash. Grants apply here.[1][2]
- Second Instalment (Key Collection): Remaining 20% via CPF OA. Ensure OA balance ≥ payment + AHG premium.[4]
- Confirm on HDB My Home Portal: Deduct CPF digitally post-financing approval.
For young couples stacking schemes: 2.5% first, then balance.[1] Avoid pitfalls like insufficient CPF by using Homejourney's multi-bank application—one submission to DBS, OCBC, UOB, etc., via https://www.homejourney.sg/bank-rates.
Step-by-Step: How to Use CPF for Resale HDB Down Payment
Resale flats require full 25% upfront (no staggered scheme), paid after HDB approval.[1][2]
- Get HFE and Resale Eligibility: Use HDB Resale Portal.
- Sign Option to Purchase: Pay option fee in cash.
- Confirm Financing on HDB My Flat Dashboard: HDB deducts CPF for down payment post-approval.
- Bank Loan: Minimum 5% cash + 20% CPF/cash at lawyer's instruction.[1]
- Completion: Balance via CPF OA; lawyer handles disbursement.
Calculate precisely with HDB's resale downpayment tool (needs HFE).[1] Homejourney integrates this with our property search at https://www.homejourney.sg/search to find resale flats within your CPF capacity.
Documentation Checklist for CPF Down Payment
Prepare these for seamless CPF usage:
- HFE Letter: From HDB portal.
- CPF Statement: Latest via CPF app/Singpass, showing OA balance.[4]
- Income Documents: For grants (payslips, IR8A).
- LO from Bank/HDB: Confirms loan amount.[2]
- Singpass: For digital submissions—Homejourney auto-fills via MyInfo.
Tip: Right-size to 2- or 3-room flats in non-mature estates for staggered eligibility regardless of age.[2] See our HDB Loan Documents Checklist 2026 | Homejourney Guide for full details.
HDB Loan vs Bank Loan: CPF Usage Differences
Both allow CPF for down payment, but cash minimums differ.[1][2]
Compare via Homejourney at https://www.homejourney.sg/bank-rates. For upgraders, explore Homejourney: Guide to Selling HDB and Buying Private Property Financing Guide on sell HDB buy private transitions.
Pro Tips to Maximize CPF for Down Payment
- Apply grants early—they boost CPF OA.[1][5]
- Time BTO bookings post-NSF/studies for better grants.[1]
- Avoid over-borrowing: Use Homejourney calculator to stay under 75% LTV.[2]
- For upgrades (HDB to private property), preserve CPF via resale proceeds.Buy First or Sell First? Upgrade Financing Strategies with Homejourney
- Track SORA rates—Homejourney offers real-time monitoring.
Disclaimer: This is general guidance; consult HDB or a financial advisor. Homejourney verifies data for your safety.
FAQ: How to Use CPF for HDB Down Payment
Can I use 100% CPF for HDB down payment?
Yes, for HDB loans on BTO/resale if OA sufficient (post-grants/AHG). Bank loans require min 5% cash.[1][2][4]
When is CPF deducted for resale HDB down payment?
After financing confirmation on HDB My Flat Dashboard—digital deduction.[1]
Do grants count towards down payment?
Yes, credited to CPF OA to offset your payment.[2][5]
Is staggered downpayment available for resale?
No, only uncompleted BTO flats.[1][2]
How does Homejourney help?
Calculate eligibility, compare bank rates, and submit multi-bank apps via Singpass for DBS, OCBC, etc.[Homejourney]
Ready to use CPF confidently for your HDB down payment? Start with Homejourney's trusted tools at https://www.homejourney.sg/bank-rates. For full HDB financing coverage, check our pillar guide on HDB loans. Your safe property journey begins here.
