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Anonymous

18 Apr 2019

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Should we wipe out CPF OA and take lower HDB loan or keep 20k each in OA with higher loan amount to earn the 3.5% interest?

Background: we are a young couple making first purchase of resale HDB and taking HDB loan. will still need to make cash payments for mortgage after taking into account our monthly OA contributions.

how to do the calculations? will appreciate all inputs! TIA

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Benjamin Chong

4d ago

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Teo See Hwa

17 Apr 2019

MArketing Associate at Propnex

Need to know what is your next step.

Your first step is already a mistake.

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Hariz Arthur Maloy

09 Apr 2019

Independent Financial Advisor at Promiseland Independent

Keep the buffer if your loan amount can cover the excess 20k.

This does 3 things:

You earn an ...

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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?

Is it true that if the HDB Loan amount is sufficient to cover the BTO purchase price, I do not have to wipe my CPF OA above $20k?

Does HDB loan always mean less downpayment compared to bank loan? Since we are forced to wipe out our entire OA savings upfront to reduce the mortgage loan (with the option to keep 20k).?

I have a CPF 30K investment done 6 yrs ago and now intend to purchase a resale with a HDB loan. Since I need to wipe out my OA (w 20K left), does it mean i have to return the investment to CPF?

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?

Related Posts

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?

Is it true that if the HDB Loan amount is sufficient to cover the BTO purchase price, I do not have to wipe my CPF OA above $20k?

Does HDB loan always mean less downpayment compared to bank loan? Since we are forced to wipe out our entire OA savings upfront to reduce the mortgage loan (with the option to keep 20k).?

I have a CPF 30K investment done 6 yrs ago and now intend to purchase a resale with a HDB loan. Since I need to wipe out my OA (w 20K left), does it mean i have to return the investment to CPF?

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?

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