Cpf Valuation Limit

[smartbuy 0]

A resale flat bought in the open market

If you are taking a HDB concessionary loan

You can use up to 100% of your CPF Ordinary Account savings to pay the initial 10% deposit as well as the balance of the purchase price.

If your existing CPF balance is not enough for full payment of the purchase price, you may take up a housing loan from HDB subject to credit assessment by HDB, and use all the monthly contributions to your Ordinary Account for the instalment payment of the loan.

If your housing loan is still outstanding when your total CPF withdrawals towards payment of the flat had reached the Valuation Limit, you may continue to use your CPF savings to repay the housing loan, provided you are able to set aside the prevailing Minimum Sum cash component in your Special and Ordinary Accounts.

Are you guys worry about this?????

[Durian pudding 0]

A resale flat bought in the open market

If you are taking a HDB concessionary loan

You can use up to 100% of your CPF Ordinary Account savings to pay the initial 10% deposit as well as the balance of the purchase price.

If your existing CPF balance is not enough for full payment of the purchase price, you may take up a housing loan from HDB subject to credit assessment by HDB, and use all the monthly contributions to your Ordinary Account for the instalment payment of the loan.

If your housing loan is still outstanding when your total CPF withdrawals towards payment of the flat had reached the Valuation Limit, you may continue to use your CPF savings to repay the housing loan, provided you are able to set aside the prevailing Minimum Sum cash component in your Special and Ordinary Accounts.

Are you guys worry about this?????

Relax....there are more things to worry beside this at current situation.....

[delirious_jeff 0]

A resale flat bought in the open market

If you are taking a HDB concessionary loan

You can use up to 100% of your CPF Ordinary Account savings to pay the initial 10% deposit as well as the balance of the purchase price.

If your existing CPF balance is not enough for full payment of the purchase price, you may take up a housing loan from HDB subject to credit assessment by HDB, and use all the monthly contributions to your Ordinary Account for the instalment payment of the loan.

If your housing loan is still outstanding when your total CPF withdrawals towards payment of the flat had reached the Valuation Limit, you may continue to use your CPF savings to repay the housing loan, provided you are able to set aside the prevailing Minimum Sum cash component in your Special and Ordinary Accounts.

Are you guys worry about this?????

So, the 2.6% interest accumulated over time are to be paid in cash if the CPF-OA and SA accounts have less than their minimum sums upon reaching the valuation limit. This is one of the reasons why majority buys units direct from HDB. There is no Valuation Limit in this case! Nothing to worry about if plans have been made.

Edited January 5, 2009 by delirious_jeff

[hibernate 0]

this occured to me before

So, the 2.6% interest accumulated over time are to be paid in cash if the CPF-OA and SA accounts have less than their minimum sums upon reaching the valuation limit. This is one of the reasons why majority buys units direct from HDB. There is no Valuation Limit in this case! Nothing to worry about if plans have been made.

hubby and i wants to get a flat direct from hdb but our balloting results are terrible

and we couldnt wait 5yrs for a bto flat .. its far too long!

so boh bian have to get resale

[mwerkz 0]

wrong post

Edited January 14, 2009 by mwerkz