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I can’t get an answer from anyone, so I hope someone here can give me the correct answer.

I have an existing HDB loan and my MOP is already fulfilled. I am now going to use ALL my CPF OA to fully pay off my HDB loan. Which means my CPF OA account will be almost ZERO after paying off the HDB loan.

After this, I am going to buy a private condo as 2nd property with 20% cash and 80% bank loan, and cash for stamp duty, legal fee, etc. Question is, do I have to maintain the CPF minimum sum of $77.5k (that is, to top up my CPF OA back to $77.5k with cash) as I am buying a 2nd property now?

Please help me with this question because I am unsure if buying 2nd property WITHOUT CPF will still trigger the CPF minimum sum. Thanks a lot!
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3 Answers

Ivan Ng
Replied
Hi,

Since you are not utilizing your CPF OA to fund any portion of your 2nd property, you do not need to maintain 77.5K in your OA. However, should you decide to use CPF monies to service the mortgage, you need to have 77.5K in your CPF OA and SA first before any excess can be used. Thanks and hope it clarifies. May I know which investment project are you considering at the moment? Will be glad to value-add further.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com
Www.ivanng10.com Read More
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YT Tan (陈永达)
Replied
Good morning buyer,

Great hearing from you!

Not to worry. Let me advise you on this.

Seems like you are not using any CPF OA funds for your 15% downpayment or stamp duties thus you don't have to keep a minimum sum of $77.5k in your CPF OA +SA. But take note if you are going to use CPF OA funds for your monthly mortgage repayment, you have to keep the minimum sum first before you can use the excess.

Hope my explanation helps!

If you need any assistance or advice in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Property Avenue Pte Ltd

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W):www.yttan.com
(W):www.propertyavenue.com.sg Read More
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Joanne Chia 谢诗琳
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My client bought additional private property without paying ABSD , kept their hdb after serving minimum occupation period , my client even could use all his cpf OA to pay for mortage installments for the private property WITHOUT the need to set aside cpf minimum sum .

Kindly contact me for a no obligations chat for your property needs .

Joanne chia
Hp 8333 3327  Read More
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