Home loans

Loan-to-Value (LTV) limits in Singapore

The loan-to-value limit is the largest share of a home’s price you can borrow; for a resale HDB flat it is a share of the lower of the price and the valuation. On a first bank home loan it is 75%, with at least 5% paid in cash. It falls to 55% if the loan runs past age 65 or beyond 30 years (25 for an HDB flat), and to 45% or 35% if you already have one or two home loans. HDB loans lend up to 75%.

Checked against official sources on 21 October 2026

LTV and down payment calculator

An estimate under the MAS and HDB rules. The lender confirms the limit in its loan offer.

LTV limits for bank loans

These apply to individual borrowers where the option to purchase was granted on or after 6 July 2018. The lower limit applies when the loan tenure is over 30 years (25 years for HDB flats), or the loan runs past the borrower’s 65th birthday.

  • No other home loan: 75%, or 55% at the lower limit. At least 5% in cash, or 10% at the lower limit.
  • One other home loan: 45%, or 25%. At least 25% in cash.
  • Two or more other home loans: 35%, or 15%. At least 25% in cash.
  • Loans to companies and other non-individuals: 15%.
  • The longest loan is 30 years for an HDB flat and 35 years for other homes.

LTV for HDB housing loans

  • Up to 75% of the price of a new flat, or of the lower of the resale price and the valuation, for resale applications from 20 August 2024 and flats from the October 2024 sales exercise. It was 80% before.
  • The limit is pro-rated down if the remaining lease does not cover the youngest buyer to age 95.
  • The loan runs for the shortest of 25 years, 65 minus the buyers’ average age, and the remaining lease minus 20 years.
  • HDB sets no minimum cash payment, unlike a bank loan for a flat, which needs at least 5% in cash. You must first use your CPF Ordinary Account savings, keeping up to $20,000, and pay the rest in cash or CPF.

Worked examples

  • $1.5 million condo, first loan, borrower aged 35 over 30 years: up to $1,125,000. At least $75,000 in cash; the other $300,000 from CPF or cash.
  • Same condo, borrower aged 45 over 25 years: the loan would run to age 70, so 55%, or $825,000, and at least $150,000 in cash.
  • Same condo with one home loan already: 45%, or $675,000, and at least $375,000 in cash.
  • $600,000 HDB flat with an HDB loan: up to $450,000; the $150,000 balance can come from CPF.

Joint borrowers and age

For a bank loan with two or more borrowers, MAS uses their income-weighted average age: each borrower’s age times their share of the combined income. HDB uses the average age of the applicants.

Then check what your income allows

TDSR and MSR limit the loan by your income, so you can borrow only the lower of the LTV amount and what your income can repay at the stress-test rate.

Compare what banks would lend you

The limits set the most you can borrow; the rate decides what it costs. Compare home loan packages from Singapore banks on Homejourney.

Compare home loan rates

Questions

What is the LTV limit for a first home loan in Singapore?

75% from a bank, with at least 5% of the price in cash, if the loan is no longer than 30 years (25 for an HDB flat) and ends by age 65. Otherwise 55%, with at least 10% in cash.

What is the LTV for an HDB loan?

75% of the price, or of the lower of the resale price and the valuation, for resale applications from 20 August 2024 and new flats from the October 2024 sales exercise.

What is the LTV for a second property?

45% if the loan is no longer than 30 years and ends by age 65, otherwise 25%. At least 25% of the price must be paid in cash.

Is LTV based on the price or the valuation of an HDB flat?

For a resale flat, on the lower of the resale price and the valuation, whether the loan is from HDB or a bank. For a new flat, on the purchase price.

Sources

Rules and fees change. Check the linked official pages before you commit, and ask a lawyer about your own sale or purchase.

Related guides

TDSR and MSR in Singapore

How much you can borrow for a Singapore home: TDSR caps all debt at 55% of income, MSR caps home loans at 30% for HDB flats and ECs. Calculator at the 4% and 3% stress-test rates.

How much cash you need to buy an HDB resale flat

The cash and CPF needed for an HDB resale flat: the 25% down payment, the $5,000 option deposit, cash over valuation, stamp duty and HDB fees, with a worked example.

Additional Buyer's Stamp Duty (ABSD) in Singapore

ABSD rates for Singapore citizens, PRs, foreigners and entities from IRAS, with a calculator: 20% on a second home for citizens, 5% on a first home for PRs, 60% for foreigners.