Advertisement

Anonymous

18 Apr 2019

∙

Should I reduce my monthly mortgage after I have made a partial capital repayment to HDB in order to maximise my cash proceeds if I intend to sell my BTO in 2-3 years time?

Also, how should I decide how much cash to use to pay off my HDB loan? Can I consider using the outstanding cash I have after deducting my current cash holdings with the total emergency funds for both me and my spouse? (Ie 6 months of our combined monthly salary?)

1

Discussion (1)

What are your thoughts?

Learn how to style your text

Henry Hoe Yong Zhi

19 Mar 2019

Music & Audio Technology at Singapore Polytechnic

It depends on your financial goals. As long as you reduce the amount of CPF you use to finance your HDB, the less accrued interest you will need to repay CPF when you sell off your BTO later.

Having 6 months of emergency funds is a good indicator but you may also want to consider how much cash you require to fund your current lifestyle.

Reply

Save

Write your thoughts

Related Posts

Should I make partial repayment to my HDB loan now if I intend to sell my flat in the next few years and buy a resale, BTO or EC?

During BTO key collection, can I indicate to pay the mortgage using CPF-OA funds but repay my CPF-OA using cash every month / year? Will there still be accrued interest if I repay using cash monthly?

I am currently 1 year into my first job and planning to propose by next year and get married in 2-3 years time. However, our BTO application have not been successful. What should I do?

I am getting my house in 2 years time. Do you recommend if I throw my OA into SA and pay off my monthly mortgage using the OA I got every month from my pay? Should I leave some OA in case I lose my job?

I had bought a resale HDB flat with grant. After 10 years I sold and bought brand new EC. However, I have intended to sell my EC after 5 years. Am I eligible to purchase a new BTO flat?

Related Posts

Should I make partial repayment to my HDB loan now if I intend to sell my flat in the next few years and buy a resale, BTO or EC?

During BTO key collection, can I indicate to pay the mortgage using CPF-OA funds but repay my CPF-OA using cash every month / year? Will there still be accrued interest if I repay using cash monthly?

I am currently 1 year into my first job and planning to propose by next year and get married in 2-3 years time. However, our BTO application have not been successful. What should I do?

I am getting my house in 2 years time. Do you recommend if I throw my OA into SA and pay off my monthly mortgage using the OA I got every month from my pay? Should I leave some OA in case I lose my job?

I had bought a resale HDB flat with grant. After 10 years I sold and bought brand new EC. However, I have intended to sell my EC after 5 years. Am I eligible to purchase a new BTO flat?

Advertisement