If I had bought two private properties, which property will my CPF savings be used to service the monthly instalment first?

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Accepted Answer

There is no specific order of deduction on which property will be paid first. It is important to ensure that you have enough savings in your CPF account to cover the monthly instalment deductions.

Tips for sustainable housing payments:

While your CPF savings can help with housing payments, remember that these savings are primarily for your future retirement needs. For a sustainable approach, consider the following:

ensure your monthly instalment does not exceed your monthly Ordinary Account (OA) contributions
use a mix of cash and OA savings for housing payments
retain an amount in your OA equivalent to six months' worth of monthly instalments for emergencies

This approach allows you to service your housing loan during unexpected situations while ensuring your OA savings continue earning attractive interest rates.

If I had bought two private properties, which property will my CPF savings be used to service the monthly instalment first?

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Related questions

If I did not apply to use my CPF savings when I bought my property that is financed with a bank loan, can I now use my CPF savings for monthly instalments?

What is the maximum monthly instalment amount that can be used for my property?

Will I be informed if I do not have enough CPF savings for the monthly housing loan deduction?

What is the priority of the Home Protection Scheme deduction if I am also using my CPF savings to pay my monthly housing instalments?

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