Cpf for housing [Archive] - Condo Forum Singapore Property Review Mortgage Loan Buy Rent Sell Real Estate

aunhyunty

12-07-13, 11:49

Hi, can any one help. What is the maximum cpf allowed each person for monthly housing instalment? Is there a limit? Thanks in advanced!

ysyap

12-07-13, 12:03

Hi, can any one help. What is the maximum cpf allowed each person for monthly housing instalment? Is there a limit? Thanks in advanced!Based on the following 2 guidelines

1. Deduction cannot be more than the monthly mortgage loan servicing amount, i.e. if you need to pay bank $3k/mth, deduction cannot be more than $3k/mth from your cpf OA.

2. You cpf funds must satisfy the various requirements such as minimum sum needed for 2nd and subsequent property mortgages, etc.

walkthetiger

12-07-13, 12:04

Hi, can any one help. What is the maximum cpf allowed each person for monthly housing instalment? Is there a limit? Thanks in advanced!

Call CPF

1800-227-1188 (local)
+65-6227-1188 (overseas)

Arcachon

12-07-13, 12:40

Hi, can any one help. What is the maximum cpf allowed each person for monthly housing instalment? Is there a limit? Thanks in advanced!

Personal advise, if you need to use CPF for monthly housing loan other than HDB better think twice. If you are not getting 2.6 return don't even need to think. And If you can't calculate your return better don't buy.

When uncle and aunty start buying it time to sell.

DKSG

12-07-13, 12:50

Personal advise, if you need to use CPF for monthly housing loan other than HDB better think twice. If you are not getting 2.6 return don't even need to think. And If you can't calculate your return better don't buy.

When uncle and aunty start buying it time to sell.

I think this is bad advice without knowing the circumstances.

Office Boy has been using CPF for many many properties and all worked out very well! Money earn Money! For CPF dollar u use for properties, it will have a 3-5 times leverage!

In property investment, no need to calculate return until the cows come home, because by then, cows are home liao!

Office Boy teach you a simple theory - End Game Theory.

Everytime you buy a property, you must be able to convince yourself that in the future, you will be able to sell your property at $x,xxx...

For example, if you buy a Sky Habitat now at $1,600psf, knowing the Jurong is also selling at $1,600 psf. U can project that, citeris peribus, if Jurong price move up a little bit to $1,700, you can expect Bishan to hit $1,900 and you make $300 psf! If you are happy with this "future", then you should go ahead and BUY! Else, dont buy.

Too many people has too much money stuck in CPF now!

DKSG

Arcachon

12-07-13, 13:08

ironmanpower

12-07-13, 13:16

http://lmgtfy.com/?q=CPF+for+housing

rymccondo77

12-07-13, 13:29

Personally think such questions are still okay.

Better than questions such as asking where is the location of a property - can easily google such info :)

ysyap

12-07-13, 16:19

When a person ask how much cpf allowed each person for monthly housing installment, it clearly show that person can't even use google to search for the answer and CPF website. I would advise this type of people to slow down and think twice. They are not the typical officeboy.Asking simple questions and become lazy is still better than spreading lies and stirring unrest which I see in some threads... :scared-3:

aunhyunty

12-07-13, 18:17

I searched google but cannot find the answer I want. so if I only own one property, can I wipe out all my cpf?

richwang

12-07-13, 20:27

aunhyunty

12-07-13, 22:54

Depending on your age, it can get more complicated than you thought.

http://mycpf.cpf.gov.sg/CPF/my-cpf/buy-house/CPFHousing_Leaflet.htm

1. When you just started the loan, you can virtually use all of your Ordinary Account CPF for monthly payment.

2. But if you are taking those 30 years loan, you will be surprised to hit the Withdraw Limit when the loan hits 19 years. You will potentially need to pay by hard cash.

Thanks for this info, so can I assume of my property is more than 50% paid, I do not need to worry about WL? My property is about two year old, 1mil property. Paid $350k cash, $300k cpf. Still got $350k.. M thinking of wiping out my cpf to refinance soon.

henryhk

13-07-13, 10:16

Thanks for this info, so can I assume of my property is more than 50% paid, I do not need to worry about WL? My property is about two year old, 1mil property. Paid $350k cash, $300k cpf. Still got $350k.. M thinking of wiping out my cpf to refinance soon.
Not wise to use all your cpf, as it enjoys 2.5% interest, as bank loan is 1.5% interest at present....

phantom_opera

13-07-13, 12:31

lol 2.5pc?? infant formula up 50pc since 2005

http://m.todayonline.com//voices/take-closer-look-infant-formula-prices-here-too

Arcachon

13-07-13, 13:29

Long long time ago, parents already tell their children to avoid debt. If you have a mortgage pay down the debt.

http://www.youtube.com/watch?v=jqvKjsIxT_8

http://www.youtube.com/watch?v=4Xx_5PuLIzc

Fast forward to 2013, they still think this way when they knew FED is printing 85 billion a month
(USD 85,000,000,000)

They even dig into their CPF to paid up their debt instead of making the CPF money work harder.:scared-1:

http://en.wikipedia.org/wiki/Quantitative_easing

heehee

13-07-13, 14:43

What to do when even the authority is clamping down & forcing you to be unable to take up more debt as though taking more debt is very bad for you?
People just have wrong understanding of what gov is doing & what is good for them, just like have to take less debt, buy into JLD because it is touted to be next CBD...
For me, I take the reverse & had retired at younger age than most for many years now.

Long long time ago, parents already tell their children to avoid debt. If you have a mortgage pay down the debt.

http://www.youtube.com/watch?v=jqvKjsIxT_8

http://www.youtube.com/watch?v=4Xx_5PuLIzc

Fast forward to 2013, they still think this way when they knew FED is printing 85 billion a month
(USD 85,000,000,000)

They even dig into their CPF to paid up their debt instead of making the CPF money work harder.:scared-1:

http://en.wikipedia.org/wiki/Quantitative_easing

phantom_opera

13-07-13, 14:49

the key is to take moderate amount of risk

- take too little risk => u must drive taxi soon
- take too much risk => junk bond etc ... good luck

darkseed73

15-07-13, 11:06

http://lmgtfy.com/?q=CPF+for+housing

So cute! +1 like ahahhaa