Asked by Anonymous
I can’t get an answer from anyone, so I hope someone here can give me the correct answer.
I have an existing HDB loan and my MOP is already fulfilled. I am now going to use ALL my CPF OA to fully pay off my HDB loan. Which means my CPF OA account will be almost ZERO after paying off the HDB loan.
After this, I am going to buy a private condo as 2nd property with 20% cash and 80% bank loan, and cash for stamp duty, legal fee, etc. Question is, do I have to maintain the CPF minimum sum of $77.5k (that is, to top up my CPF OA back to $77.5k with cash) as I am buying a 2nd property now?
Please help me with this question because I am unsure if buying 2nd property WITHOUT CPF will still trigger the CPF minimum sum. Thanks a lot!
I have an existing HDB loan and my MOP is already fulfilled. I am now going to use ALL my CPF OA to fully pay off my HDB loan. Which means my CPF OA account will be almost ZERO after paying off the HDB loan.
After this, I am going to buy a private condo as 2nd property with 20% cash and 80% bank loan, and cash for stamp duty, legal fee, etc. Question is, do I have to maintain the CPF minimum sum of $77.5k (that is, to top up my CPF OA back to $77.5k with cash) as I am buying a 2nd property now?
Please help me with this question because I am unsure if buying 2nd property WITHOUT CPF will still trigger the CPF minimum sum. Thanks a lot!
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