You can apply by submitting the duly completed application forms which are obtainable from the Board.

As in many cases, you may be obtaining a housing loan and other credit facilities to part-finance the purchase price of the property, and you should consult your Lawyer for his assistance in completing the application form. It usually takes about 2 to 3 weeks for the Board to grant its in-principle written approval.

(a) A member is not allowed to use his CPF savings to pay directly for the land cost and the construction costs of the house. He would have to use his own funds and/or a loan to meet the said payments first. When the house has been completed up to the Temporary Occupation Permit stage, the member can use his CPF savings to repay the loan.

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When the property is sold or transferred, the member is required to return to his CPF Account the CPF savings withdrawn plus accrued interest, if he has not yet qualified for withdrawal of CPF savings under Section 15 of the CPF Act.

The Scheme applies only to properties in Singapore which are on freehold land or have remaining leases of not less than 60 years.

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The housing loan should be for a fixed term and is secured by a mortgage on the property which is owned by the member. However, CPF savings may also be used to repay a housing loan that has been obtained under any of the following circumstances:

(a) The housing loan is for a fixed term and is secured by a mortgage which resulted from a transfer of the initial housing loan from one lender to another, provided that the initial housing loan was secured by a mortgage on the property;

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This Scheme has been introduced to help CPF members purchase/build private residential properties for their own occupation or for rental.