How to Use CPF for HDB Down Payment: Homejourney Guide
You can use your CPF Ordinary Account (OA) savings, cash, or a combination to pay the 25% HDB down payment for BTO or resale flats, with grants like Enhanced CPF Housing Grant (EHG) up to $120,000 reducing your outlay[1][3][6].
Homejourney prioritizes your safety by verifying all financing info, helping first-time buyers and upgraders navigate how to use CPF for HDB down payment confidently. This cluster focuses on CPF usage specifics, linking to our pillar on HDB financing for complete coverage.
Understanding HDB Down Payment Requirements
HDB requires a 25% down payment on both BTO and resale flats, regardless of HDB loan or bank loan[1][2]. For bank loans, at least 5% must be cash, with the remaining 20% from CPF OA or cash[1][3].
CPF OA savings can cover the full amount if sufficient, and grants are credited first to offset this[6]. For example, on a $500,000 BTO flat, down payment is $125,000: HDB loan allows all CPF; bank loan needs $25,000 cash minimum + $100,000 CPF/cash[3].
Homejourney's eligibility calculator at https://www.homejourney.sg/bank-rates#calculator lets you input CPF balances to estimate affordability instantly.
Step-by-Step: How to Use CPF for HDB Down Payment
Follow these actionable steps to deploy your CPF safely for your HDB purchase.
- Get HFE Letter: Apply via HDB Flat Portal for HDB Flat Eligibility (HFE) letter, confirming CPF usage eligibility[1].
- Check CPF Balance: Log into CPF account; ensure OA has enough after grants. Use HDB resale downpayment calculator (needs HFE)[1].
- Book Flat: At BTO selection or resale option-to-purchase, confirm financing plan on HDB My Flat Dashboard.
- Pay 1st Instalment: For staggered scheme, pay 2.5%-10% via CPF deduction online[1][2]. Eligible young couples (under 30) pay just 2.5% initially[2].
- 2nd Instalment at Key Collection: Remaining 15%-22.5% deducted from CPF OA automatically[1][4].
- Monitor via Homejourney: Track with our tools after applying via Singpass at https://www.homejourney.sg/bank-rates.
Avoid pitfalls: Don't withdraw CPF early; grants apply first, and insufficient OA triggers cash top-up[6].
Staggered Downpayment Scheme and CPF
HDB's Staggered Downpayment Scheme lets eligible first-timers split payments: 5% (or 2.5% for young couples/Deferred Income Assessment) at Agreement for Lease, balance at keys[1][2][5].
CPF covers both instalments fully for HDB loans; bank loans require 5% cash minimum overall[1]. Eligibility: First-timers, younger applicant under 30 at HFE, 5-room or smaller uncompleted flats[2][3].
| Scheme | 1st Payment (Lease Signing) | 2nd Payment (Key Collection) |
|---|---|---|
| HDB Loan (Staggered) | 5% (CPF/cash) | 20% (CPF/cash) |
| Bank Loan (Staggered) | 5% cash + 5% CPF/cash | 15% (CPF/cash) |
| Young Couples (2.5%) | 2.5% (CPF/cash) | 22.5% (CPF/cash) |
for full HDB vs bank comparison.
Documentation Checklist for CPF Usage
- HFE Letter from HDB (apply online via Singpass).
- CPF statement showing OA balance (download from CPF portal).
- Income documents for grants like EHG (up to $120k families)[1].
- Option Fee receipt (resale: 1% cash/CPF).
- Bank In-Principle Approval (if bank loan).
Prepare via Singpass for auto-fill on Homejourney's multi-bank application: one submission to DBS, OCBC, UOB, HSBC, and moreHDB Loan Documents: Complete Checklist for 2026 Buyers | Homejourney .
Pro Tips for Maximizing CPF for Down Payment
Insider tip: Time BTO ballot post-NSF/studies for 2.5% scheme; stack with EHG for max offset[2]. Check OA monthly as contributions build savings.
Increase approval: Use Homejourney's calculator first, then apply multi-bank via https://www.homejourney.sg/bank-rates – Singpass auto-fills CPF data for instant quotes.
For upgraders planning sell HDB buy private or HDB to private property, preserve OA by selling first; explore upgrade financing optionsSell HDB Buy Private: Ultimate Upgrade Financing Guide | Homejourney .
Disclaimer: Rules per HDB/CPF as of 2026; consult professionals for personalized advice. Homejourney verifies data for trust.
What Happens After CPF Down Payment
Post-payment, monthly CPF + cash repayments start; accrued interest on used CPF is payable upon resale/refinance[6]. Banks assess via TDSR (60% debt cap).
Track SORA trends for refinancing: Compare DBS, OCBC, UOB rates on Homejourney. Search budget-friendly HDB via https://www.homejourney.sg/search.
FAQ: How to Use CPF for HDB Down Payment
Can I use all CPF for HDB down payment?
Yes, full 25% from CPF OA for HDB loans; bank loans need 5% cash min[1][6].
How much CPF needed for $400k resale HDB?
$100k (25%), offset by grants; use HDB calculator post-HFE[1].
Eligible for staggered CPF payment?
Yes if first-timer, under 30; 2.5%-5% first[2].
Impact on CPF for upgraders?
Retain OA post-sale for private condo down payment; see selling flat buying condo guideHDB Upgrader Mortgage Guide: Complete Singapore Financing .
Where to calculate CPF down payment?
Homejourney's tool at https://www.homejourney.sg/bank-rates#calculator or HDB portal.
Ready to use CPF for your HDB down payment? Start with Homejourney's safe, verified tools at https://www.homejourney.sg/bank-rates for multi-bank offers and calculators. Link to our HDB financing pillar for full details – your trusted partner for how to use CPF for HDB down payment.
