Asked by MT
Hi Gurus, kindly advice, my hdb loan is left with $73K+ and my cpf OA now is $10K, mthly mortgage is $360 with 22yrs 7 mths remaining and on average my CPF contribution to OA is almost doubled the mortgage amount as I am earning on average of $2.3K - $2.5K per mth. With this in mind, do you think it is best for me to make a partial payment to clear my HDB loan as quickly as possible? I did a calculation and I can make an $8K for the first payment and yearly can contribute another $2K on top of the monthly payment. With this, it will take me 10 yrs instead of 22 yrs if I just use CPF only. I was thinking once my HDB loan is fully cleared, I can then focus on investing in a private property instead with higher chances to get up to 80% loan compared to up to 60% instead. Thanks in advance!
1413 views
