No, you will not. Unlike a loan for a completed party, a BUC loan has a progressive disbursement schedule, otherwise known as the Progressive Payment Scheme (PPS). This means only a certain amount will be disbursed at each stage of the property construction process. PPS works in this manner: 1. Pay the 5% OTP fee in cash 2. Sign the Sale & Purchase Agreement and pay off the remaining 15% down payment (CPF funds are allowed) 3. Settle any stamp duties (CPF funds are also allowed) Only then will your loan disbursal and monthly repayments begin.