Asked by a***@gmail.com
Can I use my cpf to pay the loan?
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4 Answers
Hi,
Yes, it is possible. If it's your second property using CPF, you will need to set aside the Basic Retirement Sum before you can utilise any further CPF monies. You may wish to check the amount that you can utilise via CPF.
I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.
Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.
Thank you.
Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More
Yes, it is possible. If it's your second property using CPF, you will need to set aside the Basic Retirement Sum before you can utilise any further CPF monies. You may wish to check the amount that you can utilise via CPF.
I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.
Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305 . I will be happy to assess and share with you the possibilities for you in the current market.
Thank you.
Best regards,
Robbie Chen
9748 6305
PropNex Realty Read More
Hi Sir/Madam
I will be glad to assist
Appreciate if you can contact me at (65) 96608508
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.
Warmest regards,
Silvia Yang
Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com Read More
I will be glad to assist
Appreciate if you can contact me at (65) 96608508
or click here https://bit.ly/WaSilvia to whatsapp me for no obligation discussion
Thank you.
Warmest regards,
Silvia Yang
Senior Marketing Director
ERA Realty Network Pte Ltd
Mobile: (65) 9660 8508
Email: Silviayang8@gmail.com Read More
Hi
Yes but subject to restrictions. I will need more information in order to advise further. Do contact me at 93375051 for a free and non obligatory discussion on this.
Regards
Taufik Hussein
CEA Reg No: R061607B
Contact No: 93375051
ERA Realty Network Pte Ltd Read More
Yes but subject to restrictions. I will need more information in order to advise further. Do contact me at 93375051 for a free and non obligatory discussion on this.
Regards
Taufik Hussein
CEA Reg No: R061607B
Contact No: 93375051
ERA Realty Network Pte Ltd Read More
Hi,
1) Funds in the CPF account were initially designed only for our retirement when it was initially started up.
2) It was only in a later stage it allowed us to make use of the funds to buy our own property.
3) After much evolution, it is then split into 3 accounts; namely OA (Ordinary Account), SA (Special Account) & MA (Medical Account).
4) Only funds in OA are allowed to be used for our property purchase; i.e. down payment and servicing of mortgage.
5) Some after many years of saving, they could have comfortably fully paid off their 1st property and wished to make use of the fund in OA for 2nd property.
6) Under this circumstance, you will have to set aside a Basic Retirement Sum (BRS: $83k in 2021, $86k from 1 Jan 2022) in your CPF account.
7) This BRS can be calculated from SA, followed by OA if the fund in SA is insufficient to cover the BRS.
8) Example, your SA has $60k, your OA has $200k. $60k (SA) + $23k (OA) = $83k. The remaining ($200k - $23k = $177k) $177k in OA can be used for your 2nd property.
Hope the above answer 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
Note:
Any response to our answer does not reach us until we scroll through each and every query posted daily.
The best way to get a follow-up is to Whatsapp or email us directly. Read More
1) Funds in the CPF account were initially designed only for our retirement when it was initially started up.
2) It was only in a later stage it allowed us to make use of the funds to buy our own property.
3) After much evolution, it is then split into 3 accounts; namely OA (Ordinary Account), SA (Special Account) & MA (Medical Account).
4) Only funds in OA are allowed to be used for our property purchase; i.e. down payment and servicing of mortgage.
5) Some after many years of saving, they could have comfortably fully paid off their 1st property and wished to make use of the fund in OA for 2nd property.
6) Under this circumstance, you will have to set aside a Basic Retirement Sum (BRS: $83k in 2021, $86k from 1 Jan 2022) in your CPF account.
7) This BRS can be calculated from SA, followed by OA if the fund in SA is insufficient to cover the BRS.
8) Example, your SA has $60k, your OA has $200k. $60k (SA) + $23k (OA) = $83k. The remaining ($200k - $23k = $177k) $177k in OA can be used for your 2nd property.
Hope the above answer 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
Note:
Any response to our answer does not reach us until we scroll through each and every query posted daily.
The best way to get a follow-up is to Whatsapp or email us directly. Read More
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