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HDB Questions

Asked by BL 23 Oct 2012

Wish to purchase a resale HDB with my wife. I wish to only use my name to pay for the 20% downpayment using bank loan so that my wife CPF will not be affected due to the CPF minimum sum when we intend to purchase an investment condo using her CPF after the 5 years MOP and also to enjoy the 2.5% CPF OA for the next 5 years, in hope that the interest would not change. The monthtly mortage will be deducted from my CPF only and top up in cash if needed for the next 5 years.Is this a good plan? Thanks...

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3 Answers

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Yian Tay · Answer 1 · 2012-10-23T18:48:35+08:00

Yian Tay

Replied 23 Oct 2012

Hi BL, for more detailed discussion and explanation of the Bank loan, CPF usage, its best to meet up directly to explain to you.

Would also advise you now to try to apply for HLE first if you are seriously looking at purchasing a HDB flat.

Hope to hear from you soon.

Making dreams come true, one home at a time,

Yian Tay
ERA Realty Network Pte Ltd
Mobile: 82884499
Email: yiantay.era@gmail.com
CEA Regn - R027190C Read More

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Mike Lim · Answer 2 · 2012-10-23T21:49:46+08:00

Mike Lim

Replied 23 Oct 2012

Evening BL,

Based on your intention, this would only be workable if you are grant 80% loan. As for the monthly installment, you can instruct your lawyers not to touch your app use CPF at all but the balance, exceeding your contribution, have to be paid by cash.

Do feel free to contact me for further discussion.

Regards
Mike Lim
96929209
ERA Read More