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I am taking a 2nd HDB loan to buy a new HDB flat before selling my current HDB. 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 towards the new HDB loan?
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3 Answers

Hi, I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Hope to hear from you soon and have a great week ahead. By the way, all the OA will be utilised first and you can’t transfer a portion to the SA.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Dear Sir/Mdm,

You will not be able to transfer part of the OA to the SA. Moreover, 50% of your sales proceeds from the first flat will be channeled towards the next flat and therefore the sales proceed from the sale will be lesser. In the current low interests environment, it may be wiser to go for a bank loan instead to take advantage of the low interest rates and save on the interests. You will be surprised at how much you can potentially save.

Please feel free to contact me so that I can understand your situation better and provide you with further assistance.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

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Hi

HDB allows you to reserve up to $20,000 (each party) of CPF in the OA if you are concern of your CPF OA being wiped out. I do understand in this difficult times, it is important to have enough back up funds in your CPF OA to continue with the monthly mortgage in case you are not employed for few months in the future. This is some of my client concern too. Do note for 2nd HDB concessionary loan, you are only allowed to retain $25,000 or 50% of cash proceeds whichever is higher and the rest will go towards to your downpayment for the new flat. Do contact me at 93375051  for a free and non obligatory discussions on this.

Regards
Taufik Hussein
ERA Realty Network Pte Ltd Read More
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