i also have some questions on this topic:
me and my wife have an existing HDB.
current status (illustration only), both OA+SA combined:
my CPF: 50k (doesnt meet min sum requirement)
my wife cpf: 120k (meets min sum requriement, excess of 65k usable)
Assume min sum of 55k requirement
Say we want to buy a pvt property now. Questions:
1. given the above that ONLY one of us meets the min sum, by law are we allowed to co-joint and buy a pvt property and use either/both CPF to co-fund? or does the law dictates that BOTH MUST meet min sum in order to use CPF to own a 2nd property?
2. If above is ok, then how is the "usable" amt being calculated? Is it based on [Combined fund of 170k - 2x Min Sum = 60k] OR simply my wife's excess?
3. if one day i hit the min sum already, can i start to contribute to the loan repayment?
Appreciate experts views and advices on this.
Thanks.