Use CPF OA for House Loan
This feature to auto repay housing loan using CPF OA is enabled by default once you have enabled CPF module. You may also choose to toggle it off.
"Full" repayment using CPF OA
For loans that has " Use CPF OA" toggled on, the loan repayment will be deducted from your CPF OA until your OA is empty, or until the loan is repaid. Insufficient amount will be deducted from cash savings instead.
"Use CPF OA" is available only to Liabilities of type " House Loan" and it is toggled on by default. You may also choose to toggle is off.
Partial repayment using CPF OA
If you do not wish to apply the above logic and want to simulate a the mortgage repayment that is
partially funded from CPF OA instead, you can use the
Simulation tab to simulate it.
1. Turn OFF the "Use CPF OA" toggle within the House Loan. This will disable the usual logic.
2. Click on the Simulation tab to create a new simulation. Give it a description e.g. "Mortgage repayment using $1000/m from CPF OA".
3. Create a withdrawal from CPF OA into cash (e.g. $1,000/mth for 20years):
- [A] In the Income section
Add a "Other Income" (e.g. $1,000/mth)
Set Increment to 0% and toggle off Taxable - [B] In the CPF Adjustments section
Add "Remove from OA" (e.g. $1,000/mth) - Ensure that both have the same Period and amount (e.g. 20years and $1,000/mth)
