Published 5 November 2026. By Cheng Xu, BTO Radar.
The cash required depends on the flat price, loan approved, available CPF OA, grants and payment dates. The examples below assume a first-timer family with monthly income of $6,500, $55,000 CPF OA and an estimated $40,000 EHG, subject to HDB eligibility. No future CPF contributions are assumed.
4-room BTO example: $420,000
The Staggered Downpayment Scheme is assumed, with a 75% loan. The official HDB payment schedule depends on your scheme and loan type.
| Item | HDB loan | Bank loan |
|---|---|---|
| Total downpayment | $105,000 | $105,000 |
| At signing | $21,000 (5%) | $42,000 (10%) |
| At keys | $84,000 (20%) | $63,000 (15%) |
| Mandatory cash within downpayment | $0 | $21,000 (5%) |
| BSD | $7,200 | $7,200 |
| Estimated cash for downpayment + BSD after available CPF OA and EHG | $17,200 | $21,000 |
The $95,000 combined CPF OA and EHG does not cover the $112,200 total downpayment and BSD in the HDB-loan example. The resulting $17,200 cash shortfall must be funded. Bank financing requires $21,000 cash even if more CPF is available. Fees, insurance and renovation are additional.
EHG can fund the purchase price but cannot pay BSD, legal fees or the mandatory cash downpayment (HDB grant conditions). Under deferred income assessment, EHG is available only near key collection, not for the 2.5% initial payment (HDB deferred assessment).
Reproduce the HDB example or bank example.
4-room resale example: $600,000
Assuming the price equals valuation and the approved loan covers 75%, the downpayment is $150,000 and BSD is $12,600 (IRAS rates). With a bank loan, at least $30,000 (5%) of the price must be paid in cash. With an HDB loan, CPF OA and eligible grants may fund the downpayment, but available balances still matter (CPF loan comparison).
Resale grants differ from BTO grants. Obtain the grant amounts from your HFE letter before calculating the remaining cash; this example does not assume an additional Family Grant or Proximity Housing Grant.
Any Cash Over Valuation (COV) must be paid in cash. For a $630,000 agreed price and $600,000 valuation, COV is $30,000. Loan and CPF limits are based on the lower of price and valuation, so COV is additional to the financing calculation.
When cash is needed
- BTO booking: A 4-room flat has a $2,000 option fee, paid by NETS. It forms part of the downpayment, rather than an extra purchase charge (HDB booking rules). Confirm refund or credit arrangements with HDB.
- Resale deposit: The option fee is negotiated up to $1,000, and the total option plus exercise deposit cannot exceed $5,000. Both are paid to the seller in cash and form part of the price (HDB Option to Purchase).
- Stamp duty: For documents executed in Singapore, stamping is generally due within 14 days of signing. Confirm CPF payment or reimbursement timing with HDB or your solicitor (IRAS stamping deadlines).
- Other costs: Budget separately for application, legal, valuation, registration, insurance, renovation and furnishings. Obtain quotes rather than treating indicative market figures as official fees.
A lower approved loan means a larger cash/CPF contribution. The calculator applies an illustrative 30% MSR cap; your HFE letter or bank offer determines the actual loan.
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