How much cash do I need to buy a resale condo?

At minimum 5% of the price in hard cash — and for a resale condo that cash component IS the option monies: the 1% option fee paid to the seller for the OTP, plus the 4% paid when you exercise it. CPF and the loan cannot substitute for this 5%. The rest of the downpayment (price less your loan) can come from CPF OA.

When do I exercise the Option to Purchase?

The OTP for a private resale typically gives you 14 days to exercise. You exercise by signing and returning the option with the 4% exercise payment, in cash, through your lawyer. Let the option lapse and the seller keeps your 1% option fee.

When are BSD and ABSD payable, and can CPF pay them?

Buyer's Stamp Duty — plus ABSD if your profile attracts it — is payable within 14 days of exercising the OTP. For a resale purchase the duties are paid in cash first; your lawyer then applies for reimbursement from your CPF OA, which typically arrives after completion. Plan the cash flow accordingly.

How long from OTP to completion?

A private resale purchase typically completes about 10–12 weeks from the OTP. On completion day the balance 95% changes hands: your CPF OA is drawn, your bank loan disburses, and any remaining gap is topped up in cash before you collect the keys.

How much can I borrow for a resale condo?

The LTV cap for a first housing loan on private property is 75% of the price, falling to 45% for a second outstanding housing loan and 35% for a third or subsequent one — and your bank may approve less than the cap based on TDSR. That is why this planner asks for YOUR loan-eligible amount from an in-principle approval instead of assuming the maximum.

Resale Condo Purchase Planner

How much cash you need — your resale condo plan

Key in the price, your loan and your CPF OA. We work out the cash you need to fork out — the 1% option fee, the 4% on exercise, BSD and ABSD, the fees — when each payment falls due, and how much of it CPF OA pays back to you afterwards.

Purchase

Purchase price

ABSD profile

ABSD rate: 0%

Financing

Loan-eligible amount

Enter a purchase price to convert between $ and % LTV.

From your bank's in-principle approval — or solve your max with the affordability planner.Extended loan tenure

Off — standard 75% LTV, 5% min cash

Loan past 65 (to age 75 / 35 yrs). LTV → 55%, minimum cash → 10%.

CPF

CPF OA available

Every dollar of OA that can go into this purchase is a dollar of cash you don't have to find. Leave it blank to see the all-cash figure.

Fees

Legal / conveyancing

Private-resale quotes run roughly $2,500–4,000 all-in. Replace this with your lawyer's figure. Cash on completion, and gone for good — it also takes OA ahead of your stamp duty, shrinking what you get back.Other fees

Valuation, agent fee, moving, and anything else you want counted. Cash only — CPF can't fund these.

Key dates

Optional

Option date

The day the seller grants the OTP. Setting this fills the rest with the standard schedule — edit any of them.Exercising date

Normally within 14 days of the OTP.Completion date

Typically ~10–12 weeks from the OTP.Handover date

Keys and vacant possession — the same day as completion unless the seller negotiated time to move out.

Enter a purchase price to map the payments to completion.

How this planner works

This is a price-first planner, not an affordability calculator, and it answers the question buyers actually ask: how much cash do I need? You key in the purchase price you are negotiating, your loan-eligible amount from the bank's in-principle approval, and your CPF OA — never a cash balance — and it returns the cash the purchase demands, in the order the payments actually fall due: the 1% option fee on day 0, the 4% exercise payment within 14 days, BSD (plus ABSD per your profile) within 14 days of exercising, and the balance 95% at completion, roughly 10 to 12 weeks from OTP. If you're still solving for the price itself, start with the affordability planner and bring the number back here.

The funding waterfall follows the rules, not wishful thinking. The 1% + 4% option monies are hard cash — they are also exactly the 5% minimum cash component a bank-financed purchase requires, which is why a resale condo never needs less than 5% cash no matter how full your OA is. Stamp duty — BSD and ABSD alike — is settled in cash and then reimbursed from CPF OA after completion, through your lawyer: CPF can fund the duty, it just cannot do it at the counter. The order is what catches people out. Your OA pays the downpayment first, then your lawyer takes the conveyancing fee out of it — that part never returns to you — and only what survives both comes back as duty. A buyer whose OA barely clears the downpayment and the legal fee gets nothing back at all. That is why the planner separates the cash you need on the day from the cash you keep out for good.

We deliberately ask for your loan-eligible amount rather than assuming the 75% LTV maximum. The cap drops to 45% on a second outstanding housing loan and 35% on a third, and TDSR can bind below the cap at any tier — so the honest input is the figure your banker has actually approved. Where your entry exceeds the 75% cap, the planner clamps it and says so.

Frequently asked questions

How much cash do I need to buy a resale condo?: At minimum 5% of the price in hard cash — and for a resale condo that cash component IS the option monies: the 1% option fee paid to the seller for the OTP, plus the 4% paid when you exercise it. CPF and the loan cannot substitute for this 5%. The rest of the downpayment (price less your loan) can come from CPF OA.
When do I exercise the Option to Purchase?: The OTP for a private resale typically gives you 14 days to exercise. You exercise by signing and returning the option with the 4% exercise payment, in cash, through your lawyer. Let the option lapse and the seller keeps your 1% option fee.
When are BSD and ABSD payable, and can CPF pay them?: Buyer's Stamp Duty — plus ABSD if your profile attracts it — is payable within 14 days of exercising the OTP. For a resale purchase the duties are paid in cash first; your lawyer then applies for reimbursement from your CPF OA, which typically arrives after completion. Plan the cash flow accordingly.
How long from OTP to completion?: A private resale purchase typically completes about 10–12 weeks from the OTP. On completion day the balance 95% changes hands: your CPF OA is drawn, your bank loan disburses, and any remaining gap is topped up in cash before you collect the keys.
How much can I borrow for a resale condo?: The LTV cap for a first housing loan on private property is 75% of the price, falling to 45% for a second outstanding housing loan and 35% for a third or subsequent one — and your bank may approve less than the cap based on TDSR. That is why this planner asks for YOUR loan-eligible amount from an in-principle approval instead of assuming the maximum.

Could you ride out a job loss after buying?

Planning the purchase is only half the picture. See how many months your cash reserves would carry the mortgage if your income stopped — and how much you’d rebuild over four years if it doesn’t.

Open the Safety Net Calculator →

Disclaimer

The tools on this page provide estimates for general reference only and do not constitute financial, legal, tax, or investment advice. Calculations are based on prevailing MAS, IRAS, HDB, and CPF rules and rates at the time of publication, which may change without notice. Actual figures — including loan eligibility, interest rates, stamp duties, and CPF usage — depend on your specific circumstances and the final assessment of banks, IRAS, and other relevant authorities. TRIBE makes no warranty as to the accuracy or completeness of any output and accepts no liability for decisions made in reliance on these tools. Please verify all figures with the relevant institutions or a qualified professional before committing to any transaction.