Asked 2w ago
Is it advisable to move everything from my OA to SA to enjoy higher interest, therefore paying a lower down payment and taking a bigger housing loan? In fact, is this doable?
Assuming you only have one HDB loan:
Feel free to take up the HDB loan and borrow up to 90% of the value and up to 25 years. That's the max you can go.
Before moving everything from OA to SA, it's best to leave some money in OA (e.g. $20,000) just in case for whatever reason you can't pay your monthly amount. If I'm not wrong, you can instruct HDB to not drain your entire OA and leave a maximum of $20,000 in your OA.
You still have to have paid up 10% of the flat value at key collection. Feel free to do that via CPF + cash.