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My wife and I have an existing HDB fully paid up. Me and my wife now have about $25,000 each in our CPF Ordinary Account.

Can we use this $50,000 as part of 20% downpayment if we are to get a second property that cost $1million? Can our future CPF contribution be used for repayment of the bank loan as well? Need advice. Thanks.
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1 Answer

Mike Lim
Replied
Evening Adrian,

Do note that if you have utilize CPF for the mortgage payment for your HDB unit, you are required to fufill the CPF minimum sum before you are allowed to utilize the balance for your second property.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
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