Buying a condo soon and will wipe out CPF OA balance for downpayment. Should I pay for the monthly mortgage in cash only (build up my OA balance) should I use CPF for the monthly mortgage?
Honestly, if your cpf OA is wipe out you probably over-leverage.
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Becoz u have no safety net without cpf. If u sudden lose of job, it will be very challenging to pay the monthly instalment, unless you have very thick bank account.
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Answering question
Personally i think, u should pay mostly by cash. Build up your CPF 1st.
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FYI: u can use mixture of cash and CPF to pay the instalment.
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Reason if u sudden loss of job then you can use CPF to pay. Playing with debt, you must make sure u have very strong holding power.
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My personalsafety net for reference
Let tenant pay 1st
If no tenant, use my salary pay
If loss job, use my previous profit from selling the house (housing fund)
Opinon
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Answering question
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My personal safety net for reference
4 Layers of protection.
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