The payment scheme: progressive payment
New private launches in Singapore are sold under the progressive (normal) payment scheme.
| Stage | % of price | Paid from |
|---|---|---|
| Booking (Option to Purchase) | 5% | Cash |
| Within 8 weeks of OTP | 15% | Cash / CPF |
| Foundation | 10% | Loan / CPF |
| Reinforced concrete framework | 10% | Loan / CPF |
| Partition walls | 5% | Loan / CPF |
| Roofing / ceiling | 5% | Loan / CPF |
| Doors, windows, electrical, plumbing | 5% | Loan / CPF |
| Car park, roads & drains | 5% | Loan / CPF |
| TOP | 25% | Loan / CPF |
| CSC | 15% | Loan / CPF |
The exact payment terms will be set out in One Chuan Grove’s Sale & Purchase Agreement. Model your numbers with the progressive payment calculator.
Loan limits at a glance
| Rule | What it means |
|---|---|
| TDSR 55% | All monthly debt within 55% of gross income, tested at a 4% interest rate |
| LTV 75% / 45% / 35% | First / second / third housing loan (lower if the loan runs past age 65) |
| Max tenure 35 years | But above 30 years (or past age 65), the first-loan LTV falls to 55% |
| Min cash 5% / 25% | First loan / subsequent loans |
Stamp duty
BSD on every purchase (e.g. about $79,600 on $2.2M), plus ABSD if it applies. See the stamp duty guide and calculator. HDB upgraders buying first should read the ABSD remission guide.
CPF
CPF OA can pay the 15% down payment, BSD and monthly instalments. See using CPF for a condo.
Calculators
- Affordability: your maximum price
- HDB sale proceeds: cash and CPF from your flat
- Progressive payment: payments stage by stage
- Mortgage: instalments and interest
- Stamp duty: BSD, ABSD, SSD