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Hi,

1) If you got this CPF OA usage figure from the CPF web, it means that this flat remaining lease cannot provide your living till 95 years old.
2) It is obvious that $135k need you to service with cash.

3) I can't tell the loan tenure from your question, thus can only assume as follow:
(a) 25 years loan tenure: If your monthly mortgage used $837 cash and the rest with CPF. You should be safe from needing to pay any monthly mortgage solely by cash.
(a) 20 years loan tenure: If your monthly mortgage used $1,046 cash and the rest with CPF. You should be safe from needing to pay any monthly mortgage solely by cash.
(b) 15 years loan tenure: If your monthly mortgage used $1,394 cash and the rest with CPF. You should be safe from needing to pay any monthly mortgage solely by cash.

4) If you are paying lesser cash in your monthly mortgage as any of the above. You will faced the possibility of paying your monthly mortgage in full cash somewhere later after 10 years or more.

All The Best!!!

Hope the above answers your main concerns, but if there are more queries, 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 
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https://www.linkedin.com/in/ckling/
https://agents.huttonsgroup.com/R056727F/

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Good day to you.

Can the remaining lease of your current unit support the youngest co-owner until they reach the age of 95? If that’s the case, you may access up to $565k or the valuation amount, whichever is lower, from your CPF Ordinary Account (OA). From the calculations, it seems that the $430k from CPF OA covers the down payment, monthly payments, and accrued interest. It’s important to assess your existing loan balance and the repayment timeline to determine when you'll need to start making cash contributions for the monthly mortgage. Alternatively, if your financial situation allows, you might want to think about rightsizing.

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From your description, i am afraid we can't tell much because we do not know your age and also the balance lease of the HDB you are looking to purchase.

——

I have been in the real estate business since 2009, with more than 15 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 15,900 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Hi, appreciate your sharing. Able to apply online for Eappt to check with CPF board before proceeding with any move
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More

Hi

You can refer to this link at CPF website, it should address your query.

https://www.cpf.gov.sg/service/article/how-much-cpf-savings-can-i-use-for-my-property-purchase

Assuming the valuation is also 565k, and the balance lease can last you until 95 years old.
Basically if you are using HDB loan, and want to go beyond the valuation limit for CPF OA usage, you need to meet and set aside your cohort's Basic Retirement Sum first before any excess OA can be further used to service the outstanding hdb loan.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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I would be glad to assist you.
Feel free to contact me at wa.me/6597100155
Hope to hear from you soon.
Pei Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd Read More

Hi yes based on the figures provided, you will have to finance your monthly mortgage in cash.

For more information, you may contact me - Adeline at 8299 8262  . Read More

I’m Aren Goh from PropNex. With CPF OA usage at $430K and an HDB loan of $330K, you’re likely to reach the CPF withdrawal limits eventually. That means, down the road, you’ll need to start servicing part of your loan with cash once your CPF funds run out. It’s a common scenario for many HDB owners. If you want, I can help you review your loan and CPF usage in detail to plan ahead. Just give me a shout at 9657 6701  . Read More

1. If your CPF OA usage info is from CPF’s website, it means your flat’s remaining lease won’t last your youngest co-owner until age 95.
2. You’ll need to cover about \$135k in cash for the mortgage.
3. Without knowing your loan tenure, here are some rough monthly cash payment estimates for staying on CPF support:

* 25 years loan: around \$837 cash monthly
* 20 years loan: around \$1,046 cash monthly
* 15 years loan: around \$1,394 cash monthly
4. If your monthly cash payment is lower than these estimates, be prepared that after 10+ years, you might need to pay the full mortgage amount in cash.

Consider checking if your flat’s lease supports your youngest co-owner until 95 and review your loan balance carefully. If needed, rightsizing your home could be a smart option.
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It sounds like you are in a situation where the HDB you currently live in, or are about to purchase, may not be the best suited for you.

This is resulting in the negative scenario you mentioned where you may need to top up with significant amounts of cash to service the mortgage of a home that is not worth as much, or potentially exit with negative sales proceeds now or down the line.

Would highly recommend you speak to a qualified agent to discuss the finances before taking the next step.

I'm a Harvard graduated real estate agent with a degree in economics, and I have a decade of experience working on Singapore public policy. I would love to schedule a free consultation to discuss your options if you need any support.

Feel free to reach out via whatsapp or email.

Kay Cloud
The Harvard Educated Agent
Propnex Realty Pte Ltd
cloud@propnex.com
Tel: (+6.5.) 8.5.6.7.4.5.8.5
Whatsapp -> https://wa.me/6585674585 Read More

I would be glad to assist you.
Feel free to contact me at wa.me/6597100155
Hope to hear from you soon.
Pei Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd Read More