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Working out your Budget

You can estimate the total budget for your flat purchase by adding up the following:

  • Available cash savings
  • Available CPF Ordinary Account (OA) savings (you may retain up to $20,000)
  • CPF Housing Grant amount (if eligible)
  • Housing loan amount
    • How much you can borrow from HDB or a bank is determined by your age, income, and financial standing. For a housing loan from HDB, please apply for an HDB Loan Eligibility letter or work out an estimated loan assessment using our Enquiry on Loan Estimate e-Service 

Be sure to also set aside for the related costs when buying a new flat or resale flat .

Managing your cash savings

When buying a flat, you may need to pay part/ all of the following using cash:

You can use your available CPF OA savings to pay the downpayment or initial payment. If your CPF savings are not sufficient, you have to pay the balance amount in cash.

Useful tools for budget planning

To find out your eligibility for an HDB housing loan and the eligible loan amount, please apply for an HDB Loan Eligibility letter.

If you intend to take an HDB housing loan, you can use the following e-Services to work out a financial plan for your flat purchase.