The Truth about Paying for your Home with CPF (It's NOT Unlimited)

Buying a home in Singapore is a major milestone, but many people treat their CPF like a blank check. If you don't understand the specific rules and limits, you could be in for a rude awakening when you get your keys and find yourself scrambling for cash to top up a shortfall. In this video, I break down exactly how much CPF you can use for your property, how the remaining lease affects your usage, and whether you should really keep $20,000 in your OA. Sponsor: 📝 POEMS Cash Plus: https://hmsg.link/poems Enjoy 30 days of commission-free US trades, zero fees on unit trusts, and free market data. Earn stock coupons up to $250 by funding your account and holding for 30 days. Don’t miss the weekly Tuesday gift drops for a chance at $50 coupons for top tech stocks! *T&Cs apply. _________________________________ 🔭 Telegram Group: https://hmsg.link/telegram 📷 Instagram @HoneyMoneySG https://www.instagram.com/honeymoneysg 🦙 My Brown Llama/Alpaca https://s.shopee.sg/9zmyORhsqv 🌟 My referral codes: https://t.me/sgpromocode 📙 Solo Biz: https://hmsg.link/solobiz ☕️ Buy my Spreadsheets at Ko-Fi: https://hmsg.link/shop 🎵 TikTok https://www.tiktok.com/@honeymoneysg 📧 Email (Business only): sghoneymoney@gmail.com 🏦 CREDIT CARDS 💳 🔗 https://hmsg.link/creditcard 📈 INVESTING & TRADING PLATFORMS 📈 🔗 https://hmsg.link/investing 💳 MULTI-CURRENCY CARD/WALLET 👛 🔗 https://hmsg.link/multi 💰 PAYMENT APPS 💰 🔗 https://hmsg.link/pay 🏦 FINANCIAL APPS 🏦 🔗 https://hmsg.link/finance 💼 BUSINESS 💼 🔗 https://hmsg.link/business ✈️ TRAVEL ✈️ 🔗 https://hmsg.link/travel 🛡️ Travel Insurance offers 🛡️ 🔗 https://hmsg.link/travelinsurance 🛍 LIFESTYLE 🛍 🔗 https://hmsg.link/lifestyle 👨🏻‍💻 PROFESSIONAL SERVICES 👨🏻‍💻 🔗 https://hmsg.link/services 🎥 FILMING & SOFTWARE 🎥 🔗 https://hmsg.link/film Disclaimer: The information provided in any affiliate referral or recommendation should not be considered as financial advice. The content is for general information purposes only and does not take into account your personal financial situation, goals or objectives. You should always do your own research and seek professional advice before making any financial decisions. We may receive compensation for affiliate referrals, but this does not influence our recommendations or reviews. _________________________________ Key Takeaways * The Basics: Your CPF OA can cover your down payment (deposit), monthly mortgage repayments, legal fees, and stamp duties. * Usage Limits: Your usage depends on the property type (BTO vs. Resale), the loan type (HDB vs. Bank), the remaining lease, and whether you have hit your Basic Retirement Sum (BRS). * The $20,000 Rule: You no longer have to wipe out your OA. Keeping $20,000 helps you earn an additional 1% interest and serves as a safety buffer. * Lease Matters: If a property has less than 20 years of lease remaining, you cannot use CPF at all. If it doesn't cover the youngest buyer to age 95, your usage will be prorated. * Accrued Interest: Remember that CPF is a loan from your future self. When you sell, you must refund the principal used plus the 2.5% interest it would have earned. Special Offer: POEMS Cash Plus I use POEMS Cash Plus to invest my own CPF OA. If you are new to POEMS, don't miss these welcome rewards: 1. Click my exclusive link to open a Cash Plus account: https://hmsg.link/poems 2. Open Smart Park and log in to the POEMS Mobile 3 app. 3. Unlock zero US commission for 30 days, 0% sales charge on unit trusts, and free real-time market data. Funding Rewards: * Fund $1,000 (hold for 30 days): $10 stock coupon. * Fund $5,000: $100 stock coupon. * Fund $20,000: $250 stock coupon. Check out the weekly gift drops every Tuesday for a chance to get a $50 US stock coupon for companies like Microsoft, Nvidia, or Google. Terms and conditions apply. Resources Mentioned * CPF Housing Calculator: Always check your specific data here before buying. #SponsoredBy #POEMS