Are you able to use CPF to offset a portion your flat purchase? Singaporeans might be annoyed at the large portion of our income that goes into CPF accounts. But when it comes to purchasing a house, it may seem like a godsend — a large pool of funds that can be utilised instantly.
For the uninitiated buying a property will mean that you have to spend all of your CPF funds, then top up any extra. However, there are many components to CPF that you should consider when you use them for property.
Is it necessary to repay the grant money received from the government? Are our CPF funds only accessible if we apply for a HDB mortgage? Here are some misconceptions about using CPF to finance your house that you may have mistakenly believed in, so you don’t continue spreading false news to your peers.
Source: Her World