In general, the bank or financial institutes will lend you up to 80% of your property valuation if you do not have any outstanding loan, subjected to　TDSR if you are borrowing over 50% of the property value. If you have an existing housing loan, you will only be able to borrow up to 50% of the property value, and subsequent (i.e. 3rd, 4th, etc.) will be 20% of the property value.

So, let’s say you can borrow up to 80% of your property which is valued $1,000,000, and you have used $200,000 in CPF with an outstanding loan of $250,000. The amount of cash-out fund available to you will be $350,000.

Cashout Fund = 80% of Property Value – CPF Used – Outstanding Loan

Putting in the number, you will get:

Cashout Fund = $800,000 – $200,000 – $250,000 = $350,000

If you have noticed, CPF monies will not be taken out from the property, to prevent you from drawing out your CPF monies earlier using home equity loan.

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