Nur Izzati

21 May 2021

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Is it wise to wipe out CPF OA to pay for a 2-room (single)? Is it possible to pay partly with CPF and partly with bank loan?

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ZHU

21 May 2021

No - keep some monies in your OA in the event if you think in the forseeable future you may have issues paying your loan.

For second question - yes to a certain extent. You can pay with CPF (aka HDB loan) and thereafter switch to a bank loan. However the switch cannot be made back to HDB loan once you go into a bank loan.

There are pros and cons to HDB loan and Bank Loan which you can find more information online.

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I'm 35 years old, single and first time buyer. I have $53,000 in my OA. My gross pay $1300, $299 goes to my OA monthly and I want to get a 2 room Flexi. How much loan and grants can I get and pay back monthly?

For 2 room BTO, should i apply HDB or bank loan (100k-130k). If I am taking HDB loan should i apply max loan period 25 years or pay full asap by max out my OA.

If I buy a resale HDB before selling and take a 2nd HDB loan, between the refund to CPF and HDB wipe out of OA, can I transfer part of the OA to SA? Or must all refunded CPF go to the new HDB loan?

Do you recommend a bank loan or HDB loan if planning to sell a BTO after MOP? HDB Loan will require you to pay back everything to CPF, the remaining loan amount is not credited to OA right?

In my 30s and on a 25-year HDB loan of 350k paid monthly through CPF, should hit FRS by my 40s. Is it sensible to pay the HDB loan thru excesses in OA once I hit FRS, instead of getting a bank loan?

Related Posts

I'm 35 years old, single and first time buyer. I have $53,000 in my OA. My gross pay $1300, $299 goes to my OA monthly and I want to get a 2 room Flexi. How much loan and grants can I get and pay back monthly?

For 2 room BTO, should i apply HDB or bank loan (100k-130k). If I am taking HDB loan should i apply max loan period 25 years or pay full asap by max out my OA.

If I buy a resale HDB before selling and take a 2nd HDB loan, between the refund to CPF and HDB wipe out of OA, can I transfer part of the OA to SA? Or must all refunded CPF go to the new HDB loan?

Do you recommend a bank loan or HDB loan if planning to sell a BTO after MOP? HDB Loan will require you to pay back everything to CPF, the remaining loan amount is not credited to OA right?

In my 30s and on a 25-year HDB loan of 350k paid monthly through CPF, should hit FRS by my 40s. Is it sensible to pay the HDB loan thru excesses in OA once I hit FRS, instead of getting a bank loan?