Asked by Sam Lim
I currently have a HDB flat (MOP over since bought the house 6 yrs ago) with an outstanding loan of 100K SGD. I am planning to pay the HDB outstanding loan using my OA CPF. After doing the payment of the outsttanding loan of the HDB, i will remain 160 k sgd cash but almost nothing left in my OA.I am planning to buy a condo for stay and then rent my HDB. My question is :
(1) Can i use my OA CPF to pay for the monthly mortagage of the condo? (i will pay the 20% downpayment by cash)
(2) if i don't pay my outstanding HDB loan and then buy a condo, i will then have 2 monthly mortagaes to pay. Is it possible to change the use of my CPF OA from the HDB monthly mortgage to be used for the condo monthly mortgage and then pay the HDB monthly mortgage by cash? (change from HDB to Condo monthly mortgage by using the CPF OA).
Thank you for your advice,
Rgds,
Mr. Lim
(1) Can i use my OA CPF to pay for the monthly mortagage of the condo? (i will pay the 20% downpayment by cash)
(2) if i don't pay my outstanding HDB loan and then buy a condo, i will then have 2 monthly mortagaes to pay. Is it possible to change the use of my CPF OA from the HDB monthly mortgage to be used for the condo monthly mortgage and then pay the HDB monthly mortgage by cash? (change from HDB to Condo monthly mortgage by using the CPF OA).
Thank you for your advice,
Rgds,
Mr. Lim
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