i'm selling my hdb flat and getting another new flat. now that my CPF only has about 50K left which HDB will deduct for the new flat. when i sold my old flat, which can i use the proceeds from the old flat to offset my new loan?
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i'm selling my hdb flat and getting another new flat. now that my CPF only has about 50K left which HDB will deduct for the new flat. when i sold my old flat, which can i use the proceeds from the old flat to offset my new loan?
yes, of course you can.
After the sale your cpf money will be return with interest to your cpf account within a week - maybe 4 working days and than you can use that to pay off your loan for your current flat.
do you think it's wise than to take a shorter loan period if taking loan from HDB so can save in interest?
I do not think so as interest is pretty low - if you are investment savy than it make sense to take a longer loan and invest your cash somewhere else to make better returns than to pay off your loan.
that was what i was advised too. thanks for your double confirmation, happylalapo.