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If I sell my flat for which I have not taken up HDB loan before, can I purchase my next flat with 100% of my CPF OA funds and take up HDB loan for the outstanding balance without using my sale proceeds?
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4 Answers

Hi Jollene,

CPF funds usage for HDB purchase should be allowed subject to your age (retirement account). In addition, should you be intending to use HDB loan for the next purchase, other than using your CPF funds, you will be required to set aside at least 50% of the sales proceeds for the next purchase. It is important to plan out properly on your purchase as CPF interest rates are high and can generate good interest in your CPF savings for retirement planning.

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Geryl Lim
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Good morning Jollene,

Yes its possible if the property can last you till 95 years old. Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

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Ivan Ng Realtor
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Hi Jollen,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes it is possible for you to get the 1st HDB loan and the loan amount will be dependent on your age and salary scale.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Hi Joliene,

1) The budgeting process of buying is to determine your available loan first.
2) Follow by existing funds available in your CPF OA then cash.
3) If (1) & (2) are already sufficient for the purchase then you will have the option of purchasing first before selling.
4) All SC have 2 chances of applying for an HDB loan, since you have never enjoyed the privilege before then you are eligible to apply for it.
5) You may apply your HLE (HDB Loan Eligibility letter) from the link below:
https://services2.hdb.gov.sg/webapp/BP27AWHLEApplication/BP27SHome
6) Note that (1) + (2) must fully cover your purchase price.
7) This is applicable to BTO/SBF and resale flats.
8) You may keep your sale proceeds fully after selling. However, if you had utilized any funds from your CPF account, the HDB will return the funds used + accrued interest back to the CPF board.
9) Any remaining funds after deducting the funds returned to CPF will be presented to you in terms of cashier order on the completion day.

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

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