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Hi All, I have got quite a few questions about housing loan. Current Situation Still financing existing HDB loan for 1st HDB flat. Have sufficient balance in OA to clear off the HDB loan. Interested to look for 2nd property for investment purpose. 1) Any minimum sum required to maintain in OA if I want to clear off all existing HDB loan? 2) Assuming I cleared all HDB loan with CPF, does that means that I am eligible to loan 80% of the 2nd property's valuation( less than 30 yrs loan tenure n younger than 65 by end of loan period) 3) Would I be able to use CPF for the repayment of 2nd property's loan? If so, could anyone advise on all considerations that I need to take note eg minimum sum required etc? Thanks to all reply that help beforehand. Regards, Patrick
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1 Answer

YT Tan (陈永达)
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Hi Patrick, In order to use CPF OA to finance second property, you must first set aside a minimum sum of $74,000 (combined of OA and SA) before you can use the excess to do so. As long as when you purchase a property without any outstanding loan, you should be able to take up to 80% loan from banks (not exceeding retirement age of 65 years old or 30 years loan tenure). Hope it helps! Cheers! Warmest Regards, YT TAN 陈永达 | ACCA Graduate, RES Senior District Manager R043025D ECG Property Pte Ltd (A Wholly Owned Subsidiary of ECG Group of Companies) Estate Agent no. L3009759F Blk 190 Lorong 6 Toa Payoh #05-508 S (310190) (M): +65 9111 5171  (E): yt.lovelyhomes@gmail.com (W): www.yttan.com (W): yttan.stproperty.com.sg/ (W) www.lovelyhomes.com.sg (W) www.ecgproperty.com Read More
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