Using Cpf For Second Property

[bepgof 20]

Wah, your account par par. Must find you when your are 55.

You SA almost like mine, but my OA is pathetic

Yes, after pledging the 1st property, just half the MS, you have like $139K that you can use.

Enough to pay down payment for a 800k hse ( 15% )

Now also look for me now, already sold 2 "golden gooses", got some golden eggs with me leh.

Edited July 14, 2010 by bepgof

[Warrior88 0]

After you have aside the 50% of the MS, you can use the excess + future CPF monies for the 2nd property. Normally CPF ppl will advise not use CPF for loans unless you fully paid the 1st one or cash rich. Btw, 2nd property capped at 100VL.

So, can use cpf for loan service for 2 hse lah. Strange, both my hse not fully paid.

Also, don't think I will hit this VWL. Will sell one of them when the price pick up.

By the way, stated in my cpf homepage, my 2nd hse, HDB is at 120VWL bought early this year.

As for my 1st hse bought in 1999, 150VWL.

CPF also states that even if hit the VWL, so long MS is kept, can still continue using CPF for loan repayment. Even if OA is zero, can still use SA so long MS is kept.

All this VWL, must remember that we had use cash for down payment. So this % can be added to you VWL. Eg, 150WL + 20% cash downpayment = 170% of valuation price.

[vowsh 1]

So, can use cpf for loan service for 2 hse lah. Strange, both my hse not fully paid.

Also, don't think I will hit this VWL. Will sell one of them when the price pick up.

By the way, stated in my cpf homepage, my 2nd hse, HDB is at 120VWL bought early this year.

As for my 1st hse bought in 1999, 150VWL.

CPF also states that even if hit the VWL, so long MS is kept, can still continue using CPF for loan repayment. Even if OA is zero, can still use SA so long MS is kept.

All this VWL, must remember that we had use cash for down payment. So this % can be added to you VWL. Eg, 150WL + 20% cash downpayment = 170% of valuation price.

U belong to those that push up the HDB resale..1st pte property ..2nd HDB resale property

[Warrior88 0]

U belong to those that push up the HDB resale..1st pte property ..2nd HDB resale property

So sad:( kenna brand by you. I downgrade so my kids can walk to school. Don't have to wake up so early.

That was my purpose. But then, if it coincide with investment/speculation. I just ride along.

By the way, the valution price is not control by us. They are the ones pushing price up.

Mah BT also says, "Homeowners! don't you want your home price to go up"

I was like . Also, I didn't commit such high COV like those enblocers.

Look at the latest premium ponggol.. can your kids afford them, next time ?

Singapore kiasu, kiasi one. Miss the boat, must swim like ****.

[bepgof 20]

So, can use cpf for loan service for 2 hse lah. Strange, both my hse not fully paid.

Also, don't think I will hit this VWL. Will sell one of them when the price pick up.

By the way, stated in my cpf homepage, my 2nd hse, HDB is at 120VWL bought early this year.

As for my 1st hse bought in 1999, 150VWL.

CPF also states that even if hit the VWL, so long MS is kept, can still continue using CPF for loan repayment. Even if OA is zero, can still use SA so long MS is kept.

All this VWL, must remember that we had use cash for down payment. So this % can be added to you VWL. Eg, 150WL + 20% cash downpayment = 170% of valuation price.

You very can, feeding 2 golden gooses concurrently, awaiting for the golden eggs to be hatched . SA pays for loan instalment? that was sometimes in 1992 or 1993 a special period only, if I recalled correctly.

Bought resale last yr Aug, still got 80K loan outstanding, intend to redeem this Sept (3 mnth adv notice), lock in end dec. After that, look for another goose...., actually already striking out just to sense the buying sentiment at sites, hope to get the right timing.

Edited July 14, 2010 by bepgof

[therat 18]

You very can, feeding 2 golden gooses concurrently, awaiting for the golden eggs to be hatched . SA pays for loan instalment? that was sometimes in 1992 or 1993 a special period only, if I recalled correctly.

property bought before 1 October 2003 can use SA for loan installment

Bought resale last yr Aug, still got 80K loan outstanding, intend to redeem this Sept (3 mnth adv notice), lock in end dec. After that, look for another goose...., actually already striking out just to sense the buying sentiment at sites, hope to get the right timing.

which goose you look at?

share share le.

[Warrior88 0]

SA pays for loan instalment? that was sometimes in 1992 or 1993 a special period only, if I recalled correctly.

Bought resale last yr Aug, still got 80K loan outstanding, intend to redeem this Sept (3 mnth adv notice), lock in end dec. After that, look for another goose...., actually already striking out just to sense the buying sentiment at sites, hope to get the right timing.

Login you singpass, check your property details.

Actually this is how its works. Last time no MS, so high VWL ... 150%

MS increase every year, so VWL drop.

Reasons for this VWL, must keep for retirement.

But now got MS, so bottom line, if enough MS, can use OA & SA for loan installment.

My advice, don't redeem, loan interest so low now, HDB 2.6%, outside 1.X%, cpf savings minimum = 2.5%. CPF can use for investment, education, MS top up for parents, buy insurance. By the way, if sell high, buy high. Got 2, can still sell high and got place to stay. Better stop, otherwise kenna brand again.

[Warrior88 0]

property bought before 1 October 2003 can use SA for loan installment

Thanks Therat.. thats the one I read. Also thats the reason, I don't redeem my first property.

After all, loan interest only at 1.XX

[bepgof 20]

property bought before 1 October 2003 can use SA for loan installment

which goose you look at?

share share le.

So far only 2, all D15: Flemingo Valley (now avg $1200psf) & The Sound (very small flr area, no good). Agent called a few time to see waterfront gold, have gone, may be this or next wk end, to see that skypad model.

Edited July 14, 2010 by bepgof

[vowsh 1]

Login you singpass, check your property details.

Actually this is how its works. Last time no MS, so high VWL ... 150%

MS increase every year, so VWL drop.

Reasons for this VWL, must keep for retirement.

But now got MS, so bottom line, if enough MS, can use OA & SA for loan installment.

My advice, don't redeem, loan interest so low now, HDB 2.6%, outside 1.X%, cpf savings minimum = 2.5%. CPF can use for investment, education, MS top up for parents, buy insurance. By the way, if sell high, buy high. Got 2, can still sell high and got place to stay. Better stop, otherwise kenna brand again.

not branding you lah. Got $$ can invest property but not overstretch.

[bepgof 20]

Thanks Therat.. thats the one I read. Also thats the reason, I don't redeem my first property.

After all, loan interest only at 1.XX

Ah hia, admire u still can sleep peacefully at nights with "invisible hands" digging into yr left & right pockets each month.

Edited July 14, 2010 by bepgof

[therat 18]

So far only 2, all D15: Flemingo Valley (now avg $1200psf) & The Sound (very small flr area, no good). Agent called a few time to see waterfront gold, have gone, may be this or next wk end, to see that skypad model.

Flemingo Valley.

Understand the sale move very slow. Location also not that good

$1200psf is for 3 bedder?

[Warrior88 0]

Ah hia, admire u still can sleep peacefully at nights with "invisible hands" digging into yr left & right pockets each month.

I invest in good BED, sleep like a pig. Spend ppl money when you are young, sepnd your own money when your old cos nobody want to lend you. Property is my lucky bet, but loss in car everytime.

Remember the old days, Ah Kong buy land and gold. But I didn't listen. Otherwise, I retire liao.

If I don't hit now, next time, really cannot sleep, keep staring at my wife, asking "How Ar ?"

[Warrior88 0]

not branding you lah. Got $$ can invest property but not overstretch.

No sweat, brother. Got your tips, I had done my projected figures.

Slightly stretched at the end. But I guess with my cumulated rental income

may tide over it, if market still good. Most, I sell when market picks up.

[bepgof 20]

Flemingo Valley.

Understand the sale move very slow. Location also not that good

$1200psf is for 3 bedder?

Developer already up the price, pm you liao.

Edited July 14, 2010 by bepgof