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I own a 5-room HDB flat and have paid off all the loan last year. Thinking of whether I can buy a private property with my CPF saving.

1) My HDB flat is more then 10 years old, can I rent it out after I buy a private property?
Or I have stay in my HDB and rent my private property?

2) My CPF SA have more then $65K so can I use the surplus sum from SA with OA to pay for the private property?

3) Follow up to question (2), Can I use both me and my wife cpf to pay the private property and also the monthly loan?
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4 Answers

Ivan Ng
Replied
Hi,

As long as you are an SC and have fulfil MOP, you can rent out your HDB and stay in your private property. You can only use your OA accounts to pay for both downpayment and monthly mortgage repayments, not SA. To use your wife CPF, her name needs to be included in the private property. However, there are some CPF OA usage restrictions for 2nd property buyers. Will be glad to share more with you.

Thanks and may I understand your requirements further so as to find the best avenue to achieve your upgrading objectives? Hope to discuss further.

Warm regards
Ivan ERA
 97432395 
Ivanng10@gmail.com
Www.ivanng10.com Read More
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Mike Lim
Replied
Afternoon,

If either you or your spouse are SC, you will be eligible to purchase your second property without the need to sell off your current unit.
You will not be eligible to utilize CPF SA for servicing of mortgage on your unit. You can only utilitize your CPF OA for servicing of mortgage or down payment after fulfilling the CPF minimum sum requirement.

Do contact me if you require further assistance.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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D. Kumar
Replied
Hi there,

Please feel free to contact me at 96659926  for a non obligatory discussion for me to better understand your requirements and specifications to be in a better position to advise you further in the most detailed and thorough manner, for me to answer all yiur questions, to very comprehensively chart out your financial calculations flow and for us to explore the available options and alternative.

Visit my website to view all my recent accolades - esteemed awards and testimonials to gather more information on me: www.kumarrai.com

D Kumar
 +65 96659926 
ERA Associate Division Director
www.kumarrai.com
www.singapore-newproperties.com.
contactdkumarrai@gmail.com

About Me-

ERA Top Achievers 2013/14
ERA Multi-Million Dollar Club Award
2014 ERA Asia-Pacific Business Conference Elite Award

P Group-
2015 February ERA Top Achievers
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Tricia Tan
Replied
Hi.
I would be glad to meet up with both of you to understand the details better and work on the financials for you. Feel free to reach me at 9144 2664  for a discussion.
Tricia
 65 91442664  Read More
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