{"id":500,"date":"2025-06-06T06:38:00","date_gmt":"2025-06-05T22:38:00","guid":{"rendered":"https:\/\/spacemen.digital\/test\/?p=23"},"modified":"2025-06-07T06:45:06","modified_gmt":"2025-06-06T22:45:06","slug":"downpayment-for-condo","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/","title":{"rendered":"Downpayment for condo"},"content":{"rendered":"\n

What is downpayment for a condo?<\/strong><\/h2>\n\n\n\n

A downpayment for a condo refers to the initial payment made by the buyer when purchasing a condominium. It is typically a percentage of the total purchase price of the property and is paid upfront at the time of closing the deal.<\/p>\n\n\n\n

In general, the downpayment for a condo in Singapore is typically between 5% to 25% of the purchase price of the property. For example, if a condo costs S$500,000, a 10% down payment would be S$50,000.<\/p>\n\n\n\n

What is the due date of the down payment?<\/strong><\/h2>\n\n\n\n

The down payment is typically due upon signing the Option to Purchase (OTP) or Sales and Purchase Agreement (SPA) for the condo. The timing may vary depending on the terms negotiated between the buyer and the seller or developer.<\/p>\n\n\n\n

Recommended article: All you need to know about the condo payment schedule<\/a><\/p>\n\n\n\n

How to calculate a condo downpayment in Singapore?<\/strong><\/h2>\n\n\n\n

One way to determine the amount of downpayment required for purchasing a condo in Singapore is to use 99.co\u2019s mortgage calculator<\/a>. It provides a detailed summary of the loan amount, monthly payments, down payment, and interest.<\/p>\n\n\n\n

Wondering if your income is enough? Check out our full guide on how much you need to afford a condo <\/em>(2025)<\/a>. <\/p>\n\n\n\n

What is the typical downpayment amount for a condo in Singapore?<\/strong><\/h2>\n\n\n\n

Generally, if you choose a 75% bank loan, the down payment will be 25%. Of this, 5% must be paid in cash, while the remaining 20% can be paid using cash or CPF funds.<\/p>\n\n\n\n

Can I use my CPF to pay for a condo downpayment?<\/strong><\/h2>\n\n\n\n

You can use your CPF Ordinary Account money to pay for your condo. This includes the stamp duty, deposit, and monthly mortgage payments. Some law firms may allow you to pay legal bills with your CPF money.<\/p>\n\n\n\n

What factors affect the downpayment amount? <\/strong><\/h2>\n\n\n\n

There are several important factors to consider when determining a downpayment for condos.<\/p>\n\n\n\n

Firstly, you need to consider the Loan-to-Value (LTV) limit, which determines the maximum amount a bank can lend you when you apply for a loan.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Here are the current LTV limits and minimum payment in cash for your condo in relation to the number of outstanding property loans you have:<\/p>\n\n\n\n

Number of active housing loans<\/th>LTV limit<\/th>Minimum cash payment for the condo<\/th><\/tr><\/thead>
0<\/td>75% or 55%*<\/td>5% (for LTV of 75%); 10% (for LTV of 55%)<\/td><\/tr>
1<\/td>45% or 25%*<\/td>25%<\/td><\/tr>
2 or more<\/td>35% or 15%*<\/td>25%<\/td><\/tr><\/tbody><\/table>
*Only opt for the lower LTV limit in cases where the loan duration surpasses 30 years (or 25 years for HDB flats) or if the loan term extends beyond the borrower’s age of 65.<\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

Secondly, you can use your Central Provident Fund (CPF) account to pay for your home purchase, but there are limits to the amount you can use.<\/p>\n\n\n\n

Thirdly, you must pay stamp duty in cash before depositing the condo. However, you can get a refund using your CPF account. The stamp duty amount depends on various factors, such as the purchase price of the property, the number of properties you own, and your citizenship status.<\/p>\n\n\n\n

What are the stamp duty amounts for condos in Singapore?<\/strong><\/h2>\n\n\n\n

Here are the current Buyer’s Stamp Duty numbers as of February 2024:<\/p>\n\n\n\n

\n
\n
Purchase price or market value of the property<\/th>BSD rates for residential properties<\/th>BSD rates for non-residential properties<\/th><\/tr>
First S$180,000<\/td>1%<\/td>1%<\/td><\/tr>
Next S$180,000<\/td>2%<\/td>2%<\/td><\/tr>
Next S$640,000<\/td>3%<\/td>3%<\/td><\/tr>
Next S$500,000<\/td>4%<\/td>4%<\/td><\/tr>
Next S$1,500,000<\/td>5%<\/td>5%<\/td><\/tr>
Remaining amount<\/td>6%<\/td><\/tr><\/tbody><\/table>
Source: IRAS<\/figcaption><\/figure>\n<\/div>\n<\/div>\n\n\n\n

Similarly, here are the current Additional Buyer’s Stamp Duty amounts as of April 2023:<\/p>\n\n\n\n

Buyer profile<\/th>ABSD rates<\/th><\/tr><\/thead>
Singapore Citizens (SC) buying their first residential property<\/td>Not applicable<\/td><\/tr>
SC buying a second residential property<\/td>20%<\/td><\/tr>
SC buying third and subsequent residential property<\/td>30%<\/td><\/tr>
Singapore Permanent Residents (SPR) buying their first residential property residential property<\/td>5%<\/td><\/tr>
SPR buying a second residential property<\/td>30%<\/td><\/tr>
SPR buying third and subsequent residential property<\/td>35%<\/td><\/tr>
Foreigners (FR) buying any residential property<\/td>60%<\/td><\/tr>
Entities buying any residential property<\/td>65%<\/td><\/tr>
Housing Developers buying any residential property<\/td>35% (Including an additional 5% if the entity is a housing developer; non-remittable)<\/td><\/tr><\/tbody><\/table>
Source: IRAS<\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

Alternatively, use 99.co\u2019s stamp duty calculator<\/a> to calculate how much ABSD to pay!<\/em><\/strong><\/p>\n\n\n\n

<\/p>\n\n\n\n

Are there any penalties for late payment of the downpayment?<\/strong><\/h2>\n\n\n\n

Yes, there may be penalties for late payment of the downpayment, as outlined in the terms and conditions of the OTP or SPA. Penalties could include additional charges or even the risk of the sale being terminated if payment deadlines are not met. It’s important to comply with the agreed-upon payment schedule to avoid any penalties or complications.<\/p>\n\n\n\n

Additional reading<\/strong><\/strong><\/h2>\n\n\n\n

CONQUAS<\/a><\/p>\n\n\n\n

Conveyancing lawyer<\/a><\/p>\n\n\n\n

Council of Estate Agencies (CEA)<\/a><\/p>\n\n\n\n

CPF Ordinary Account (OA)<\/a><\/p>\n\n\n\n

Credit Bureau Report<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

What is downpayment for a condo? A downpayment for a condo refers to the initial payment made by the buyer when purchasing a condominium. It is typically a percentage of the total purchase price of the property and is paid upfront at the time of closing the deal. In general, the downpayment for a condo…<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[87],"tags":[],"class_list":{"2":"type-post","7":"entry"},"acf":[],"yoast_head":"\nCondo Down Payment in Singapore - How to Pay and Calculate it<\/title>\n<meta name=\"description\" content=\"Downpayment for condo is an important term to understand the real estate industry better. Find the definition and importance of it here\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Downpayment for condo\" \/>\n<meta property=\"og:description\" content=\"Downpayment for condo is an important term to understand the real estate industry better. Find the definition and importance of it here\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/\" \/>\n<meta property=\"og:site_name\" content=\"Property Glossary\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/99dotco\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-05T22:38:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-06T22:45:06+00:00\" \/>\n<meta name=\"author\" content=\"Sophiyanah David\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sophiyanah David\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/\"},\"author\":{\"name\":\"Sophiyanah David\",\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/#\/schema\/person\/503163b9a7eba55032cbed2a8a751d6b\"},\"headline\":\"Downpayment for condo\",\"datePublished\":\"2025-06-05T22:38:00+00:00\",\"dateModified\":\"2025-06-06T22:45:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/\"},\"wordCount\":749,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/#organization\"},\"articleSection\":[\"Mortgage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/\",\"url\":\"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/\",\"name\":\"Condo Down Payment in Singapore - How to Pay and Calculate it\",\"isPartOf\":{\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/#website\"},\"datePublished\":\"2025-06-05T22:38:00+00:00\",\"dateModified\":\"2025-06-06T22:45:06+00:00\",\"description\":\"Downpayment for condo is an important term to understand the real estate industry better. Find the definition and importance of it here\",\"breadcrumb\":{\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Property Glossary\",\"item\":\"https:\/\/www.99.co\/singapore\/glossary\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgage\",\"item\":\"https:\/\/www.99.co\/singapore\/glossary\/mortgage\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Downpayment for condo\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/#website\",\"url\":\"https:\/\/www.99.co\/singapore\/glossary\/\",\"name\":\"Real Estate Terms | A-Z Property Glossary\",\"description\":\"Singapore Real Estate Glossary\",\"publisher\":{\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.99.co\/singapore\/glossary\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/#organization\",\"name\":\"99.co\",\"url\":\"https:\/\/www.99.co\/singapore\/glossary\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.99.co\/singapore\/glossary\/wp-content\/uploads\/2023\/05\/nnco_logo.webp\",\"contentUrl\":\"https:\/\/www.99.co\/singapore\/glossary\/wp-content\/uploads\/2023\/05\/nnco_logo.webp\",\"width\":192,\"height\":72,\"caption\":\"99.co\"},\"image\":{\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/99dotco\",\"https:\/\/www.instagram.com\/99.co\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/#\/schema\/person\/503163b9a7eba55032cbed2a8a751d6b\",\"name\":\"Sophiyanah David\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.99.co\/singapore\/glossary\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/311b57c1fdb9bf110637a3763e7771fb52516f93b652ed112d93a264edaf7bad?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/311b57c1fdb9bf110637a3763e7771fb52516f93b652ed112d93a264edaf7bad?s=96&d=mm&r=g\",\"caption\":\"Sophiyanah David\"},\"description\":\"test author box\",\"url\":\"https:\/\/www.99.co\/singapore\/glossary\/author\/sophiyanah99-co\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Condo Down Payment in Singapore - How to Pay and Calculate it","description":"Downpayment for condo is an important term to understand the real estate industry better. Find the definition and importance of it here","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/","og_locale":"en_US","og_type":"article","og_title":"Downpayment for condo","og_description":"Downpayment for condo is an important term to understand the real estate industry better. Find the definition and importance of it here","og_url":"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/","og_site_name":"Property Glossary","article_publisher":"https:\/\/www.facebook.com\/99dotco","article_published_time":"2025-06-05T22:38:00+00:00","article_modified_time":"2025-06-06T22:45:06+00:00","author":"Sophiyanah David","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Sophiyanah David","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/#article","isPartOf":{"@id":"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/"},"author":{"name":"Sophiyanah David","@id":"https:\/\/www.99.co\/singapore\/glossary\/#\/schema\/person\/503163b9a7eba55032cbed2a8a751d6b"},"headline":"Downpayment for condo","datePublished":"2025-06-05T22:38:00+00:00","dateModified":"2025-06-06T22:45:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/"},"wordCount":749,"commentCount":0,"publisher":{"@id":"https:\/\/www.99.co\/singapore\/glossary\/#organization"},"articleSection":["Mortgage"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/","url":"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/","name":"Condo Down Payment in Singapore - How to Pay and Calculate it","isPartOf":{"@id":"https:\/\/www.99.co\/singapore\/glossary\/#website"},"datePublished":"2025-06-05T22:38:00+00:00","dateModified":"2025-06-06T22:45:06+00:00","description":"Downpayment for condo is an important term to understand the real estate industry better. Find the definition and importance of it here","breadcrumb":{"@id":"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.99.co\/singapore\/glossary\/downpayment-for-condo\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Property Glossary","item":"https:\/\/www.99.co\/singapore\/glossary\/"},{"@type":"ListItem","position":2,"name":"Mortgage","item":"https:\/\/www.99.co\/singapore\/glossary\/mortgage\/"},{"@type":"ListItem","position":3,"name":"Downpayment for condo"}]},{"@type":"WebSite","@id":"https:\/\/www.99.co\/singapore\/glossary\/#website","url":"https:\/\/www.99.co\/singapore\/glossary\/","name":"Real Estate Terms | A-Z Property Glossary","description":"Singapore Real Estate Glossary","publisher":{"@id":"https:\/\/www.99.co\/singapore\/glossary\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.99.co\/singapore\/glossary\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.99.co\/singapore\/glossary\/#organization","name":"99.co","url":"https:\/\/www.99.co\/singapore\/glossary\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.99.co\/singapore\/glossary\/#\/schema\/logo\/image\/","url":"https:\/\/www.99.co\/singapore\/glossary\/wp-content\/uploads\/2023\/05\/nnco_logo.webp","contentUrl":"https:\/\/www.99.co\/singapore\/glossary\/wp-content\/uploads\/2023\/05\/nnco_logo.webp","width":192,"height":72,"caption":"99.co"},"image":{"@id":"https:\/\/www.99.co\/singapore\/glossary\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/99dotco","https:\/\/www.instagram.com\/99.co"]},{"@type":"Person","@id":"https:\/\/www.99.co\/singapore\/glossary\/#\/schema\/person\/503163b9a7eba55032cbed2a8a751d6b","name":"Sophiyanah David","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.99.co\/singapore\/glossary\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/311b57c1fdb9bf110637a3763e7771fb52516f93b652ed112d93a264edaf7bad?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/311b57c1fdb9bf110637a3763e7771fb52516f93b652ed112d93a264edaf7bad?s=96&d=mm&r=g","caption":"Sophiyanah David"},"description":"test author box","url":"https:\/\/www.99.co\/singapore\/glossary\/author\/sophiyanah99-co\/"}]}},"_links":{"self":[{"href":"https:\/\/www.99.co\/singapore\/glossary\/wp-json\/wp\/v2\/posts\/500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.99.co\/singapore\/glossary\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.99.co\/singapore\/glossary\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.99.co\/singapore\/glossary\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.99.co\/singapore\/glossary\/wp-json\/wp\/v2\/comments?post=500"}],"version-history":[{"count":15,"href":"https:\/\/www.99.co\/singapore\/glossary\/wp-json\/wp\/v2\/posts\/500\/revisions"}],"predecessor-version":[{"id":2829,"href":"https:\/\/www.99.co\/singapore\/glossary\/wp-json\/wp\/v2\/posts\/500\/revisions\/2829"}],"wp:attachment":[{"href":"https:\/\/www.99.co\/singapore\/glossary\/wp-json\/wp\/v2\/media?parent=500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.99.co\/singapore\/glossary\/wp-json\/wp\/v2\/categories?post=500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.99.co\/singapore\/glossary\/wp-json\/wp\/v2\/tags?post=500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}