Grant as downpayment?

[Kazuo]

Assuming I am buying a $500K house and has only $20K in my CPF. Can the housing grant of $30K be used to made up the $50K downpayment required?

Or the grant will only be brought in for calculation after the 10% downpayment, which in this case is $50K, is fulfilled?

 

[AndRiy80]

Yes grant can be used as downpayment. Pls take note that there will be others fee payable too

 

[muzakkir]

10% downpayment if youre taking hdb loan. 5% from cpf (or cash top up) and another 5% you can use the grant. First 5% you cannot use grant to make the downpayment.

For your case, the first 5% they will deduct from your cpf and you need to top up another $5k cash. The next 5% you can deduct from the grant which you will left with 5k cpf. You can choose to keep or wipe clean your cpf to pay for the house. Hope this helps

Assuming I am buying a $500K house and has only $20K in my CPF. Can the housing grant of $30K be used to made up the $50K downpayment required?

Or the grant will only be brought in for calculation after the 10% downpayment, which in this case is $50K, is fulfilled?

 

[Gixxerfied]

Grant can be fully utilise for downpayment la... Grants however cannot be use for stamp duties payment.

 

[Kazuo]

Noted guys. Thanks!