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Hi,

1) If your loan amount is $350,000 exact, meaning your monthly installment should be $1,587.84.
2) Your calculation is very close to the amount.
3) Your house Loan-To-Value (LTV) is 90% using an HDB loan which is $450k, implying you may utilize CPF to pay up to $450k.
4) The total amount of capital + interest is estimated to be $476,352.98. There is a difference of $26k+. This is the amount that cannot use CPF to pay up.
5) Let say your combined CPF has sufficient to make monthly payment without forking out cash.
6) It is advisable to make lump sum payment may be yearly of $1,054 or more. So that you don't have to wait till the final 1.5 yrs to use cash for the payment.
7) It is because you are using an HDB loan, you can make lump sum payment anytime without incurring any administrative cost or penalty. You just need to visit your HDB branch to ask the officer to assist in your lump sum payment as and when you wish to do so.
8) Do note that you can also use your CPF once it accumulates up to a certain amount, let say $10k to make lump sum payment by shortening the loan term or reduce the monthly contribution. By reducing loan terms will also help you to save on some interest along the way.

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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