Progressive Payment Scheme for New Condos: A Buyer’s Timeline

For a new condominium bought before completion, payments are generally made in stages as construction progresses. This is commonly called the progressive payment scheme. The schedule can affect your cash flow, loan drawdown and timing of other commitments, so it should be understood before you reserve a home.

A timeline is more useful than a single affordability number

Start with your booking amount, option period, down payment, stamp duties and anticipated loan. Then map later payments against the contractual construction stages. Ask your bank or mortgage adviser how the loan disbursement process applies to your own profile.

Keep three figures separate

• The price of the unit.
• Cash and CPF funds available at each stage, subject to eligibility rules.
• The monthly loan commitment as interest and drawdown change.

These figures interact, but they are not interchangeable. A calculator is useful for planning, while the bank’s assessment and signed documents determine the actual arrangement.

What to confirm before booking

Confirm the payment schedule in the sale documents, expected construction milestones, the validity of any loan approval and whether you have budgeted for taxes, legal costs and contingencies. Avoid committing based only on a monthly-payment illustration.

This site’s payment-scheme page and progressive-payment calculator are useful planning references. For the project itself, use the project details and request the current documents through the appointment page.

Make a written checklist

Record which assumptions came from a calculator, which came from a lender and which appear in the contractual documents. This simple distinction helps you revisit the plan if interest rates, income or family circumstances change before completion.