I'm expected to get my keys by end this year. I was deliberating on the options to settle the loans - whether to pay off as much cash as we have, to minimise the loan we have.

By some stroke of luck, our parents are extending their money to us...with interest of course, but slightly lesser than HDB loan of 2.6%. Works for us since the interest we pay them is better than what the banks give.

With this loan, plus wiping out our CPF (leaving $20k behind), we can actually pay the remaining  with our savings at point of key collection.

This is our scenario, amounts adjusted for simplicity: