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Hi there, my hubby and I are interested in buying a second property but are a bit confused with the financing rules. We currently have a HDB flat and are servicing the HDB loan with both our CPF. I have two questions - 1) is my LTV for the 2nd property now at 40%? and 2) do we need to maintain a min amount in our CPF OA for the existing property? Any help is greatly appreciated.
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1 Answer

Mike Lim
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Evening Cherie,

The LTV should be 60% if the upcoming mortgage loan period does not exceed 35 years or the repayment period does not exceed 65 years of age.

As for the CPF, as you have utilized CPF monies for your HDB unit, you are required to set aside around $70k each before you are eligible to use the balanced CPF for the next purchase.

FYI
Mike Lim
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