How to Use CPF for HDB Down Payment: Homejourney Guide
You can use your CPF Ordinary Account (OA) savings to pay up to 25% of your HDB flat's purchase price as down payment, depending on whether you choose an HDB loan or bank loan. For HDB loans, the full 25% can come from CPF OA with no mandatory cash component, while bank loans require at least 5% in cash and up to 20% from CPF OA.[1][2]
This cluster article dives into using CPF for HDB down payments, a key part of HDB BTO financing. Homejourney prioritizes your safety by verifying all info so you make confident decisions on HDB BTO payment and more.
HDB Down Payment Rules: CPF vs Cash Breakdown
The Loan-to-Value (LTV) limit is 75% for both HDB and bank loans as of 2024, meaning down payments are 25% of the purchase price.[1][2] For a $400,000 BTO flat:
- HDB loan: 25% ($100,000) fully from CPF OA or cash. No cash minimum.[1]
- Bank loan: 5% ($20,000) cash + 20% ($80,000) CPF OA or cash.[1][2]
Buyers taking HDB loans can retain up to $20,000 in CPF OA as a buffer for emergencies, earning interest while ensuring monthly payments.[3] Always check your CPF balance via the CPF portal before applying.
Step-by-Step: How to Use CPF for HDB Down Payment
Follow these actionable steps for smooth HDB new flat loan processing. Homejourney's tools make it safer and faster.
- Check CPF Eligibility: Log into CPF portal or use Homejourney's eligibility calculator at https://www.homejourney.sg/bank-rates#calculator. Ensure OA savings cover your share (prorated for couples).[8]
- Get HFE Letter: Apply via HDB portal. It confirms loan eligibility and CPF usage limits based on age and lease.[2]
- Sign Agreement for Lease (AFL): Pay initial down payment (5-10% under staggered scheme) via CPF GIRO or cash. Authorize CPF Board to deduct from OA.[1][5]
- Key Collection: Pay remaining (15-20%) from CPF OA. Submit resale levy or fees if applicable.[1]
- Track via Homejourney: Use our multi-bank application at https://www.homejourney.sg/bank-rates to compare DBS, OCBC, UOB rates while using CPF.
Pro Tip: First-timers under 30 qualify for staggered downpayment: 5% at AFL (HDB loan), balance at keys. Both applicants must meet criteria.[1][5]
Staggered Downpayment Scheme for BTO Flats
HDB's scheme eases upfront costs for young couples. Eligible if first-timers or one first-timer, with HFE by age 30, for 5-room or smaller flats.[1][5]
| Payment Stage | HDB Loan | Bank Loan |
|---|---|---|
| Agreement for Lease | 5% (CPF/cash) | 5% cash + 5% CPF/cash |
| Key Collection | 20% (CPF/cash) | 15% (CPF/cash) |
Total remains 25%. Not available for resale flats.[1]
Documentation Checklist for CPF Usage
Prepare these for HDB or bank approval:
- Singpass-linked CPF statement (auto-fills via Homejourney).
- HFE letter from HDB.
- Income docs for TDSR check (latest 3 payslips, IR8A).
- Flat details (BTO queue number or resale address).
- ID proofs for all buyers.
Full checklist in our HDB Loan Documents Checklist 2026 | Homejourney Guide ">HDB Loan Documents guide. Use Homejourney's Singpass integration for instant auto-fill – skip manual uploads.[4]
Resale HDB Flats: CPF Limits & Lease Rules
For resales, CPF usage caps at valuation limit. Lease must cover youngest buyer to age 95; otherwise prorated.[4] Example: $450,000 resale – HDB loan: $112,500 (25%) CPF; bank: $22,500 cash + $90,000 CPF.[1]
No staggered scheme. Pay full at completion. Check via https://www.homejourney.sg/search for flats in budget.
Pro Tips to Maximize CPF for Down Payment
- Retain $20k Buffer: Keeps CPF earning 2.5% OA interest for HDB loans.[3]
- Avoid Pitfalls: Don't exceed OA balance – top up if short, but check grant clawback.
- Grants Boost: EHG up to $80k reduces cash need, usable with CPF.[4]
- Homejourney Hack: Compare bank loans at https://www.homejourney.sg/bank-rates – one app to DBS, OCBC, UOB, HSBC etc. Track offers safely.
- Insider Tip: Time BTO ballot post-CPF top-up cycles (March/June) for max OA.[2]
Disclaimer: Rules per HDB/CPF 2026; consult professionals. Homejourney verifies data for trust.
Why Choose Homejourney for BTO Mortgage?
Skip bank queues: Our platform sends one Singpass app to multiple banks, auto-fills CPF data. Compare side-by-side, pick best for your BTO loan guide. Safe, transparent – user feedback drives improvements.
Link to full HDB BTO Financing Complete Guide 2026 | Homejourney ">HDB BTO Financing Guide for end-to-end.
FAQ: Using CPF for HDB Down Payment
Can I use full CPF for HDB BTO down payment?
Yes, with HDB loan – 25% from OA. Bank loans need 5% cash.[1][2]
What's the min cash for bank loan down payment?
5% of price, rest CPF/cash. E.g., $20k on $400k flat.[1]
Do resale flats have staggered payments?
No, full 25% at completion.[1][4]
How much CPF can I keep with HDB loan?
Up to $20k OA buffer.[3]
Where to check CPF for down payment?
CPF portal or Homejourney calculator: https://www.homejourney.sg/bank-rates#calculator.
Ready for your HDB BTO payment? Start with Homejourney's safe tools at https://www.homejourney.sg/bank-rates. Find properties at https://www.homejourney.sg/search and build trust every step.
