I do not have enough CPF savings to buy my next property as I am waiting for the CPF refunds from sale of my property. What can I do?
You can consider taking a bridging loan from any banks so long as HDB and/or the bank allows. It is important to note that the total amount of CPF savings withdrawn and the loan (including the bridging loan) cannot be more than the purchase price or valuation price of the property at the time of purchase, whichever is lower.
Once you sell your existing property, your CPF savings will be refunded to your CPF accounts. You can then use the funds to pay off the bridging loan after completing the legal documentation and settling any outstanding cash amount.
