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Hi Gurus,
need some advise from you.
2 Questions:
1) Understand that CPF have a min sum and heard that at a certain age my monthly installment cannot come from the OA and needs to be paid by cash? Is it true?

2) I'm currently staying in a EA in Sengkang. But I'm really finding it inconvenience and found like to look at a HDB that's along the Red MRT line, preferred YCK,AMK, Bishan, TPY area. I'm already 38 and my hubby 40. Is it still advisable to change house at this age? I've utilize both times HDB loan, so if getting another house means it will be bank loan. is it risky?

Thanks, Yvonne
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2 Answers

Morning Yvonne,

It is true that upon reaching age of 55, you will be restricted on the CPF monies usage. And if you were to purchase unit that have lease of less than 60 years, you might not be able to utilize OA to fully for the installment.
Based on both your spouse and your age, you should be eligible for another 20 years loan. However, you will have to work with bank loan instead.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
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Hi Yvonne, the min sum only kicks in after age 55. Both yourself and husband don't have to worry at this time. In fact this is the best age to look into restructure of your property. Eventually all would like to own a house that have sweet home feel and conveniently accessible.
It is good to start to list down you needs and requirement and paint a future home. Financial plan is an important part in the exercise, details work out and cost break down is required too. Understanding cooling measures to avoid unnecessary cost and restriction.

I can be reachable at my mobile or email.

CK Ang
 9046 3808 
res.ckang@gmail.com Read More
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