Resale Condo Purchase Planner
From price to payments — your resale condo plan
Key in the purchase price and we map the 1% option fee, the 4% exercise payment, BSD and ABSD, the downpayment, and the order every dollar leaves your pocket — cash, CPF, then loan — through to completion.
Purchase
Financing
Funds
How this planner works
This is a price-first planner, not an affordability calculator. You key in the purchase price you are negotiating, your loan-eligible amount from the bank's in-principle approval, and the cash and CPF OA you have set aside — and it returns the payments in the order they 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. Duties are settled in cash first, with CPF OA reimbursement claimed through your lawyer. At completion, CPF OA is drawn before cash, your loan disburses on the balance, and the planner flags any step the funds don't reach.
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.
Indicative only. Stamp duties are determined by IRAS at the prevailing rates; financing is subject to bank approval under prevailing MAS rules, and OTP terms can vary by contract. CPF usage is subject to CPF Board limits. Not financial advice.