WebFeb 25, 2024 · However, if you still have an outstanding home loan, the minimum down payment rises to $550,000, of which $250,000 must be in cash. ... There is a solution to this, and that’s to borrow less (i.e., make a bigger down payment). As such, older HDB upgraders may need to crunch the numbers, and save up for a bigger cash outlay.
What happens to my HDB after I die? Understanding the CPF ... - AsiaOne
WebMar 1, 2024 · When you sell your HDB before upgrading to a condo, the proceeds from the sale of the flat will be used to pay off the outstanding HDB loan amount. In the case where the sale price of the HDB flat does not cover the full outstanding loan amount, you need to pay the balance in cash. If you’ve already paid off the loan on your HDB flat, it ... WebFeb 16, 2024 · Their HDB outstanding loan was $65,923. After repaying the HDB outstanding loan and CPF refund, it was the case of a positive sale. The sales proceed that they received are , which they can use for the initial payment of their upgrading plan. Adding up their CPF OA account balance and the CPF refund from their HDB, they have a total … bluetooth horn
HDB Loan or Bank Loan – How to choose one? - iCompareLoan
WebNov 1, 2016 · If we don’t pay off and choose to leave the money in our OA, the CPF board will give us 2.5% interest. But then again, HDB loan will charge us 2.6% interest. So one pocket in and the other pocket out plus we lose additional 0.1%. So when we fully pay off the HDB loan using our CPF – we don’t have to pay HDB interest of 2.6%. WebMonthly loan instalment. Upon disbursement of your loan, your monthly instalment payment commences on the first day of the second month. Your monthly instalments are due and payable on the 1st day of subsequent months (for payments not made by CPF or GIRO) … HDB List of e-Services WebNov 23, 2024 · Your CPF OA savings earn you an interest of 2.5% annually. A housing mortgage loan from a bank usually charges an interest of about 1.5% today. If you have an outstanding housing loan of $100,000, and if you redeem the $100,000 loan with your OA, this is how the maths stack up: Interest earned from OA at 2.5%: $100,000 X 2.5% = … bluetooth horn speaker