Cash Downpayment for Newly Built Properties

[eileenlim]

to buy a newly launch development, how many percent of cash downpayment do we have to put. i understand that for new developments now, in order to stop investors from spectulating, the authorities has imposed to start paying the since month 1 of sales. is that true. as the TOP date gets nearer, you will eventually pay lesser? also how many % of CPF can we use before we can borrow the rest from the bank.

[HalcyonVI]

Minimum cash downpayment is 5% regardless of whether the property is completed or not. The monthly instalment will only kick in when the loan is disbursed ie when the developer asks for payment. As the TOP date draws near, more payment will have been made to the developer so the monthly instalment actually does up and not down. As to how much CPF you can use, take a look here http://mycpf.cpf.gov.sg/CPF/my-cpf/buy-house/BH5.htm

[milooi]

Minimum cash downpayment is 5% regardless of whether the property is completed or not. The monthly instalment will only kick in when the loan is disbursed ie when the developer asks for payment. As the TOP date draws near, more payment will have been made to the developer so the monthly instalment actually does up and not down. As to how much CPF you can use, take a look here http://mycpf.cpf.gov.sg/CPF/my-cpf/buy-house/BH5.htm

thx for the link. appreciate the knowledge