With resale flat prices at record highs, there's a tendency to assume negative cash sales won't happen right now.
Of course, you can still use your CPF for your next property; but the problem is that a bank loan requires you to pay a minimum of five per cent in cash for your next property. So unless you can raise this amount, it can curtail upgrading plans. The initial $140,000 down payment will be from CPF, as will the Buyer's Stamp Duty of $15,600. All mortgage payments will be paid using CPF too.How it's calculated: We assume the BSD and downpayment are made at the start of the year, and the mortgage is paid through that same year.
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