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Housing SchemeHousing Scheme<p>The CPF Housing Scheme enables CPF members to use their CPF Ordinary Account savings to</p><ul><li>buy Housing and Development Board (HDB) flats.</li><li>buy or build private residential properties in Singapore.</li></ul> <br>TrueTrueTrueOthers;#

 

 

UnderstandCan I use my CPF savings under CPF Housing Scheme?<p>You can use your CPF Ordinary Account (OA) savings to: </p><ul><li>buy an HDB flat; or</li><li>buy or build a private residential property </li></ul> <img class="img-responsive" alt="Usage of CPF" src="/Assets/members/PublishingImages/UsageOfCPF.png" /><br>Housing Scheme16261626
UnderstandAm I eligible to use my CPF savings to buy a property?<p>All CPF members who are eligible to buy a property can use their CPF savings for their property purchase. However, you cannot use your CPF savings if you are buying a property with a remaining lease of 20 years or less.</p><p>If you would like to buy an HDB flat, you can check your eligibility with <a href="http://services2.hdb.gov.sg/webapp/BP13EligCheck/BP13SHome?strSystem=CHECK" target="_blank">HDB</a>. For private property, you can check your eligibility with <a href="https://www.ura.gov.sg/" target="_blank">URA</a>. To find out more about the use of your CPF savings, you can read the <a href="/members/gen/tnc/use-CPF-under-housing-schemes">Terms and Conditions</a>.</p><br>Housing Scheme16271627
EvaluateHow much CPF savings can I use?<p>There are housing limits on the amount of CPF savings you can use. It depends on:</p><ul><li>the type of property that you are buying; </li><li>the type of loan </li><li>whether you have used your CPF savings for other properties;</li><li>whether the property’s remaining lease can cover the youngest buyer to at least 95 years old. If the property’s remaining lease cannot cover the youngest buyer to at least 95 years old, CPF usage will be pro-rated based on how near to age 95 the property’s lease can last him/her; and</li></ul><p>You can use our <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/CpfHousingUsage/Input1">CPF Housing Usage Calculator</a> to compute how much of your CPF savings you can use for your property.</p> <br>Housing Scheme16281628
EvaluateWhat will happen to my sale proceeds upon the sale of my property?The sale proceeds will be used to pay off the outstanding housing loan taken to buy the property and the required CPF refund. <br>Housing Scheme16301630
EvaluateHow much do I need to refund to my CPF upon the sale of my property?<p>If you have used your CPF savings to finance your property, you will have to refund the following to your CPF account:</p><ul><li>the principal CPF amount (P) which you have withdrawn for the property; and</li><li>the accrued interest (I) which you would have earned if the savings were not withdrawn from your CPF account.</li></ul><p>If the selling price (including the option monies) after paying the outstanding housing loan is not enough to fully refund your P+I, you do not need to top up the shortfall in cash, provided the property is sold at market value. However, any option monies (e.g. option fee and option exercise fee) received from your buyer in cash upon the sale of your property are considered part of the selling price and need to be refunded to your co-owner’s and your CPF accounts before the transaction can be completed.</p><p>The refunded amount will be returned to your co-owner's and your CPF accounts in the following proportions:</p><p>Amount returned to owner A’s CPF Account: <br> </p><table style="border:1px solid currentcolor;text-align:center;width:80% !important;"><tbody><tr><td valign="center" style="width:13%;"> <strong>Required CPF refund for owner A <hr style="border-color:#000000;width:82%;margin-top:5px;margin-bottom:5px;" /></strong></td><td valign="center" rowspan="2" style="width:1%;"> <strong>x</strong></td><td valign="center" rowspan="2" style="width:6%;"> <strong>Refunded amount</strong></td></tr><tr style="text-align:center;"><td valign="left" style="width:13%;"> <strong> Required CPF refund for owner A & B</strong></td></tr></tbody></table><p> </p><p>Amount returned to owner B’s CPF Account: <br> </p> <table style="border:1px solid currentcolor;text-align:center;width:80% !important;"><tbody><tr><td valign="center" style="width:13%;"> <strong>Required CPF refund for owner B <hr style="border-color:#000000;width:82%;margin-top:5px;margin-bottom:5px;" /></strong></td><td valign="center" rowspan="2" style="width:1%;"> <strong>x</strong></td><td valign="center" rowspan="2" style="width:6%;"> <strong>Refunded amount</strong></td></tr><tr style="text-align:center;"><td valign="left" style="width:13%;"> <strong> Required CPF refund for owner A & B</strong></td></tr></tbody></table><p> </p><p>If you are 55 years old and above:</p><ul><li>You will also need to refund the pledged amount on top of the P and I if you had pledged to refund an amount withdrawn from your Retirement Account (RA) savings in cash;</li><li>The amount refunded to your CPF account will be used to meet your retirement savings up to the Full Retirement Sum (FRS) in your RA. Thereafter, any balance will be paid to you in cash within 1 week from the time the refunds are credited to your CPF account;</li><li>You can also choose to retain the balance in your CPF account by writing to us at least 2 weeks before the completion of the sale of your property. Do note that the withdrawal rules for members aged 55 and above will apply subsequently should you want to withdraw these savings;</li><li>Should you require the sale proceeds urgently, you may write to us 2 weeks before the completion of sale and request to only refund up to your FRS instead of the full P+I. </li></ul> <br>Housing Scheme16311631
DecideShould I use my CPF savings to buy a property?<p>CPF is meant for your retirement needs. The more you use for your property, the less you may have for your retirement. While you may use all your OA savings to pay for your property, consider retaining some savings in your OA. These savings can help with future mortgage payments in times of emergency, and if left unused can grow at attractive <a href="/members/aboutus/about-us-info/cpf-interest-rates">interest rates</a> to better prepare you for retirement. </p><p>Do keep in mind:</p><ul><li>the other items you are paying with your OA savings, such as your insurance premiums;</li><li>the reduced CPF contribution rates as you age; and</li><li>if you are buying an HDB flat, you have to be insured under the <a href="/Members/Schemes/schemes/housing/home-protection-scheme">Home Protection Scheme</a> or a mortgage reducing insurance when you use CPF to pay the monthly instalments of your housing loan.</li></ul><br>Housing Scheme16321632
DecideHow do I choose between an HDB concessionary loan and a bank loan?<p>If you are buying an HDB flat, you should consider the following factors when deciding between an HDB concessionary loan and a bank loan:</p> <img alt="HDB loan vs bank loan" src="/Assets/members/PublishingImages/HDBLoanVsBankLoan.jpg" style="width:88%;" /> <p>You can check with <a href="http://www.hdb.gov.sg/cs/infoweb/residential/financing-a-flat-purchase/housing-loan-from-hdb/eligibility-conditions" target="_blank">HDB on the eligibility criteria</a> to obtain a HDB concessionary loan.<br></p><br>Housing Scheme16331633
DecideHow can I determine a suitable loan amount, repayment period and repayment amount that is within my financial means?You can try <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/FirstHome/UserParticulars" target="_blank">Our First Home Calculator</a> which provides an estimate of an affordable home price, taking into consideration your gross household income and expenses, as well as the repayment amount and repayment period.<br>Housing Scheme16341634
ApplyHow do I apply to use my CPF to buy my property?<p>If your loan provider is HDB or if you are buying an HDB flat without a loan:</p><ol><li>Complete and sign the CPF withdrawal form (HPS/9) at the HDB office. HDB will forward the completed form to CPF Board. If you are buying a resale flat, you may submit this application online at the HDB office. </li><li>Your application will be processed within a week upon the receipt of the hardcopy form, or 3 working days upon the receipt of your online application.</li></ol><p>If your loan provider is a bank or if you are buying a private residential property without a loan:</p><ol><li>Your lawyer will submit your application on your behalf. You will have to authorise your lawyer (by signing the Letter of Authorisation, Declaration, Consent & Agreement) to do this submission.</li><li>Your CPF savings will be released to buy the property after:</li><ul><li>all legal documentation is in order</li><li>you have paid the required cash downpayment of at least 5% of the lower of the purchase price or the valuation price of the property at the time of purchase;</li><li>you have paid any balance purchase price that is above the value of the property after taking into consideration the CPF lump sum and the housing loan payment; and</li><li>you have paid the option monies (e.g. option fee and option exercise fee) </li></ul></ol><br>Housing Scheme16371637
ApplyHow do I apply to use my CPF savings for my housing monthly instalment?<p>If your loan provider is HDB:</p><ol><li>Complete the CPF withdrawal form (HPS/9) at your <a href="https://services2.hdb.gov.sg/webapp/BP21NonPortalWeb/jsp/BOAddr/BP21PContactEnquiry.jsp" target="_blank">HDB Branch Office</a>. </li><li>HDB will forward the completed form to CPF Board.</li></ol><p>Your application will be processed within 5 working days upon receipt.</p><p> <span style="font-size:0.9em;">Note: You have to be insured under the </span><a href="/Members/Schemes/schemes/housing/home-protection-scheme"><span style="font-size:0.9em;">Home Protection Scheme</span></a><span style="font-size:0.9em;"> if you are using your CPF savings to pay your monthly loan instalments for HDB flats.</span></p><p> </p><p>If your loan provider is a bank:</p><ol><li>Login to <em>my cpf</em> with your <a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices">SingPass</a>. </li><li>Submit an online application via My Requests – Property. </li></ol><p>Your application will be processed within 5 working days after the Board has received it.</p><p> <span style="font-size:0.9em;">Note: For HDB flats, you have to be insured under the </span><a href="/Members/Schemes/schemes/housing/home-protection-scheme"><span style="font-size:0.9em;">Home Protection Scheme</span></a><span style="font-size:0.9em;"> if you are using your CPF savings to pay your monthly loan instalments. </span></p><br>Housing Scheme16391639
ApplyHow can I make changes to my monthly repayment arrangement?<p>If your loan provider is HDB:</p><ol><li>Complete the CPF withdrawal form (HPS/9) at your <a href="https://services2.hdb.gov.sg/webapp/BP21NonPortalWeb/jsp/BOAddr/BP21PContactEnquiry.jsp" target="_blank">HDB Branch Office</a>. </li><li>HDB will forward the completed form to CPF Board.</li></ol><p>Your application will be processed within 5 working days upon receipt.</p><p> <br></p><p>If your loan provider is a bank:</p><ol><li>Login to <em>my cpf</em> with your <a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices">SingPass</a>. </li><li>Submit an online application via My Requests – Property. </li></ol><p>Your application will be processed by the next working day.</p><br>Housing Scheme16351635
ApplyHow can I make a partial or full capital repayment of my property?<p>If your loan provider is HDB:</p><p>You may refer to HDB website on <a href="https://www.hdb.gov.sg/cs/infoweb/residential/servicing-your-hdb-housing-loan/loan-matters/payment" target="_blank">partial capital repayment</a> or <a href="https://www.hdb.gov.sg/cs/infoweb/residential/servicing-your-hdb-housing-loan/loan-matters/payment" target="_blank">full capital repayment</a>.</p><p> <br></p><p>If your loan provider is a bank:</p><p>First, you will have to seek approval from the bank that provided your loan. Then, you need to check that you have enough Ordinary Account savings and the maximum amount of CPF savings that you can use for your property.</p><ol><li>Login to <em>my cpf</em> with your <a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices">SingPass</a>. </li><li>Submit an online application via My Requests - Property.</li></ol><p> </p><p>Lump sum payment (Partial repayment): Your application will be processed within 3 working days.</p><p>Full repayment: Your application will be processed within 5 working days.</p> <br>Housing Scheme16381638

 

 

 

 

CPF Housing Limits CalculatorCPF Housing Limits Calculator<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/CpfHousingWithdrawalLimits/CpfHousingWithdrawalLimits" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">CPF Housing Withdrawal Limits Calculator</a>
CPF Housing Usage CalculatorCPF Housing Usage Calculator<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/CpfHousingUsage/Input1" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">CPF Housing Usage Calculator</a>
Loan Repayment Period Calculator Loan Repayment Period Calculator <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/LoanRepaymentPeriod/LoanRepaymentPeriodCalculate" target="_blank"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Loan Repayment Period Calculator</a>
Monthly Instalment Calculator Monthly Instalment Calculator <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/MonthlyInstallment/MonthlyInstallmentCalculate" target="_blank"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Monthly Instalment Calculator</a>
Our First Home Calculator Our First Home Calculator <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/FirstHome/UserParticulars" target="_blank"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Our First Home Calculator</a>
Outstanding Loan Calculator Outstanding Loan Calculator <a href="https://www.cpf.gov.sg/eSvc/Web/Services/OutstandingLoan/OutstandingLoanCalculate" target="_blank"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Outstanding Loan Calculator</a>
Total Interest CalculatorTotal Interest Calculator<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/TotalInterest/TotalInterestCalculate" target="_blank"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Total Interest Calculator</a>
Mortgage CalculatorMortgage Calculator<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/MortgageCalculator/MortgageCalculate " target="_blank"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">Mortgage Calculator</a>

 

 

 

 

 

 

 

 

Financing your home with CPFFinancing your home with CPF<a href="/Assets/members/Documents/Financing_Your_Home_with_CPF.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Financing_Your_Home_with_CPF.pdf</a><p>​(PDF, 1.4MB)</p><p>Guide on CPF Housing Scheme</p><a href="/Assets/common/Documents/ResourceThumbnails/Financing_Your_Home_with_CPF_thumbnail.png"><img alt="" src="/_layouts/15/IMAGES/icpng.gif">Financing_Your_Home_with_CPF_thumbnail.png</a>

 

 

 

 

 

 

Application to Commence Monthly CPF Deduction for Housing Loan of HDB Flat Financed with Bank Loan<a href="https://www.cpf.gov.sg/eSvc/Web/Services/MyRequest/MyRequestLanding"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">MyRequestLanding</a><p>​FORM HBL/3 <br></p>This form allows you to commence your monthly CPF deduction for the housing loan of your HDB flat financed with bank loan.00
Application to Use CPF Savings for Partial/Full Repayment of Housing Loan or Revision/Cessation of Monthly CPF Deduction of HDB Flat Financed with Bank Loan<a href="https://www.cpf.gov.sg/eSvc/Web/Services/MyRequest/MyRequestLanding"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">MyRequestLanding</a><p>FORM HBL/4 <br></p>This form allows you to use your CPF savings for partial/full repayment of the housing loan or revise/cease your monthly CPF deduction for your HDB flat financed with bank loan. 00
Make Cash Refund of CPF Savings Used for Property<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/HousingRefund/Index"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">Index</a><p>​FORM HSD/VR<br></p>This form allows you to make a cash refund of your CPF savings used for your property.00
Pay Housing Loan and/or Commence/Revise/Cease Monthly Instalment<a href="https://www.cpf.gov.sg/eSvc/Web/Services/MyRequest/MyRequestLanding " title="Application to Use CPF savings to Repay Housing Loan for Private Property"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Application to Use CPF savings to Repay Housing Loan for Private Property</a><p>PPS FORM 4B <br></p>This form allows you to use your CPF savings for partial/full repayment of the housing loan or revise/cease your monthly CPF deduction for your private property. The e-Service may take you 5 minutes to complete.00

 

 

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