Anonymous

20 Apr 2021

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Should I use my CPF monies to buy a resale 3rm flat and collect cash to offset my current rental cost?

I am 31 SC and my wife is 30 LTVP. We are waiting for her PR and renting a unit. Does it make sense that I use my CPF monies to buy a resale 3rm flat and collect cash to offset my current rental cost?

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Caleb Seah Hua Xiang

20 Apr 2021

You can do so.

If you buy now, you'll buy under non-citizen spouse scheme.

Where you also have to stay for 5 years and only can rent out bedroom. as you'll be under MOP.

As such your rental might be compromised.

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Lyon Lee

06 Apr 2021

I guess the way to go is for her to get a private property then and pay ABSD 5%

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Zac

04 Mar 2021

Noob at Idiots Invest

Yes, accrued interest only applies when you want to sell your flat, but bear in mind that when your wife turns citizen and let's say you want to buy a new flat or anything - you cannot own two HDB properties. So you will have to sell your resale then.

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Anonymous Poster

14 Feb 2021

Thanks for your reply Shaun.. Assuming i don't sell it and just rent it out all the way.. i guess accrued interest don't apply to me?

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Wrong Sean

06 Feb 2021

Ok I just checked HDB website. It is possible...

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Currently I'm paying for my flat with a HDB loan and if I have spare cash, would it be better to reduce the loan amount/duration or pay back my CPF used for the flat?

Been paying using CPF for my first flat (resale) without cash top-ups. I also have about 80k in my OA. Should I use a portion of my OA to clear my hdb loan? Why or why not? Thanks!

If i have more than 50% for downpayment in my cpf ordinary account to buy a resale flat, do i still need to fork out another 5% cash if i take a bank loan?

What is the estimated amount of cash one should prepare when buying resale flat in the current situation?

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?