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Good evening owner,

yes you are eligible to do full repayment with your CPF OA funds but I will strongly discourage you to do so.

Reason being in the long run, accrued interest will rot your sales proceeds and you will most likely end up with negative sale.

In short if you never use it, you earn interest. When you use it, you never earn interest and you have to pay interest for using your own money.

In addition, the risk is usually higher for resale owners.

I do understand your ultimate intention is to obtain max 80% bank loan for your next property but do take note that you will have other cooling measures as well.

1) additional buyer's stamp duty
2) you have to set aside basic retirement sum of $83k in your SA + OA before you can use the excess OA funds in your purchase.

By the way, My team and I have assisted numerous clients in enhancing and grow their property portfolio.

Do let me share with you on one of clients that I am helping them to upgrade or grow their property portfolio.

They will be selling their 4rm flat (havent fully paid) and intend to purchase an unit for own stay and the other for investment after a few rounds of detailed financial planning.

You might not believe. This plan will be funded entirely by their sale and they wont be coming out with any amount from their savings. They would have reserved funds up to 4 years to finance their homes even if they dont work.

I would or would not say this will be possible for you as well but with detailed financial planning, you will have a clearer picture what is feasible for you.

May I know when is a good time to meet up?

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor

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Dear Sir/Mdm,

If you have excess funds in your OA account, it may be a good idea to pay up your housing loan so that you will be able to enjoy the maximum leverage (80% loan) on your 2nd property and maximize your Return on Investment (ROI).

As for OA usage for your 2nd property, you will need to set aside 1/2 the minimum sum of $83,000 in your OA and SA accounts before you can use the excess in your OA account towards the 2nd property purchase.

I have assisted many of my clients to grow their property portfolio. The key consideration for you should be to purchase a property that is within your comfortable affordability range ie not to overstretched yourself and ensure you have enough holding power and purchasing a product which is easy to rent out with good upside potential.

Please feel free to contact me so that I can understand your objectives better and also examine your overall financial position and provide you with more informed recommendations!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

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Ms Chia (Buyer)

“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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Mr & Mrs Tan (Seller of Inter-Terrace House) Read More

Good morning,

For your first property purchase, you will be able to utilize all your CPF OA on the unit. Upon fulfilling MOP, you will be required to set aside the Basic Retirement Sum before you can utilize the balance for your second property. Do also note that in the event that your HDB is still on mortgage, you can only obtain max of 50% loan on your second mortgage loan.

Do feel free to contact me for further discussion if required.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi,

You can use all your OA monies to fully settle your HDB. However, this may not be the wisest thing to do.

No doubt, after settling your first loan, you can loan up to max 80% for your investment property. But do take note that you will have to set aside the Half Minimum Sum before you can utilise any monies from your OA for your second property. Also, you will incur Additional Buyer Stamp Duty (ABSD) for your purchase.

There are plenty of other options where you can explore. You may even be able to save on ABSD, get 80% loan for your investment property, and also without restriction on your CPF usage.

Should you need any 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 and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Good afternoon. You can use OA to settle your hdb. Intention is to get a 80% loan for your pte investment right?Lets meet up so I can share with you the various optios available for you. I specialise in doing restructuring for client. Let me customise a solution based on your needs.
You may reach me via 91442664  for a detailed discussion.
Tricia Tan
Group Director
 9144 2664  Read More