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November 24, 2011 By admin Leave a Comment

Understanding 2nd home loan and CPF usage available

Got this to share and hope it is useful.

1st property and 1st home loan

1st 5% = Cash
Next 15% = Cash or CPF
Remaining 80% = Cash or CPF or Home Loan

Can using all balance in CPF ordinary account (OA).

2nd property and 2nd home loan

1st 10% = Cash
Next 30% = Cash or CPF
Remaining 60% = Cash or CPF or Home Loan

CPF ordinary account (OA)  + special account (SA) must keep at least $65,500, then can use the rest. So if SA got $65,500, then you can use all in OA.

2nd property and 1st home loan

1st 5% = Cash
Next 15% = Cash or CPF
Remaining 80% = Cash or CPF or Home Loan

CPF usage – depends.

If you never use CPF in your 1st property, you can use all balance in CPF ordinary account (OA).

If you use CPF in your 1st property, then CPF ordinary account (OA)  + special account (SA) must keep at least $65,500, then can use the rest. So if SA got $65,500, then you can use all in OA.

3rd property and 1st home loan

Same as 2nd property and 1st home loan. =)

Filed Under: HDB, Private Property, Uncompleted Property

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