Buying Hdb In Full Cash No Loan?

[metaphor 0]

Hi, have done a search but I think this is not a common question..

Hope to seek any expert layman opinions before I talk to Hdb. Have never owned a property.

If I receive a cash inheritance from grandparents side, and have Cpf savings totaling say near $100,000 (OA about $60,000), am nearing 35 years old, want to buy 2 room as a single when I turn 35. Inheritance is about 100k.

1st question: Can I use the cpf to pay for bto, all 60k of it? Quite confused with the minimum sum, thought that's only applicable for age 55.

2nd: will HDB allow full cash payment for bto?

If it matters, I'm currently between jobs, so not sure how that affects using cpf. I don't mind using that sum tied down in cpf.

[therat 18]

Yes, you can buy HDB by using CPF and cash.

When you submit your application, HDB officer will ask you to proof your finance that you don't need HLE or Bank Loan.

Just photo copy your Bank statement and email to them when ask.

For BTO, your OA will empty out. Minimum sum component is only application for age 55.

Note: you only can use OA $$ to pay HDB.. which is about 60K that you have mentioned.

With your inheritance 100k.

You hv 60K (OA) + $100k (inheritance) = $160k

U need to cater some amount for lawyer fee(can use CPF), valuation report (cash).

Best to cater few thousand more.

[pokodoro 0]

just to add on, your changing of job doesn't affect the use of cpf, but if your cash and current CPF (OA) is not enough, then you will have to take a HDB loan or bank loan. When that happens, they will look at your CPF contribution and if you have latest 2 months not paid with CPF, then the loan might be affect.

but all should be good if you say you looking for 2bdrm. I think its about that pricing.

[metaphor 0]

My bad for the late reply, been seeking out jobs. Thanks for your both your thoughts and input, with this have quite a bit to think about. Have a good long weekend folks.