How Much Can I Borrow for a Property in Singapore?
How Much Can I Borrow for a Property in Singapore?
Quick answer
You can borrow the lower of two amounts. The first is the loan-to-value (LTV) limit: up to 75% of the price or valuation, whichever is lower, if you have no other housing loan. The second is the loan your income can carry: total debts within 55% of income (TDSR), tested at a 4% interest rate. For HDB flats and ECs, property loans must also stay within 30% of income (MSR). Your age and tenure affect both limits.
The question that matters
Which limit binds first for you — the property’s value or your income? Work that out before you shortlist, because it decides whether you need more cash or more income.
The two limits at a glance
| LTV limit | Income limit | |
|---|---|---|
| What it caps | Loan as a share of price or valuation (the lower one) | Monthly instalment as a share of gross income |
| No other housing loan | 75%, or 55% if tenure is over 30 years (25 for HDB flats) or runs past age 65 | TDSR: all debts within 55% |
| One other housing loan | 45%, or 25% | Same 55%, including the existing mortgage |
| HDB flat or EC | Same LTV tiers for bank loans | MSR: property loans within 30%, as well as TDSR |
| Interest rate used | — | Higher of 4% or the package’s later rate |
What drives each limit
Income counted. Fixed salary counts in full. Bonuses, commission, allowances and rental income are counted at no more than 70%, and variable income is averaged over the past 12 months.
Existing debts. Every monthly repayment counts towards TDSR: car loans, personal loans and any existing mortgage.
Tenure. The maximum is 30 years for HDB flats and 35 for other properties. The 75% LTV needs a tenure of no more than 30 years (25 for HDB flats) that ends by age 65. A shorter tenure means a higher tested instalment, so a lower loan.
Joint borrowers. Age is the income-weighted average age (IWAA) of all borrowers.
Borrowing limits by income
Illustration — not a client case. These figures assume a single borrower with fixed income only, no other debts, and a bank loan tested at 4%.
| Gross monthly income | Private property, TDSR, 30 years | Private property, TDSR, 25 years | HDB flat or EC (bank loan), MSR, 25 years |
|---|---|---|---|
| $8,000 | about $921,600 | about $833,600 | about $454,700 |
| $12,000 | about $1,382,400 | about $1,250,400 | about $682,000 |
| $16,000 | about $1,843,300 | about $1,667,200 | about $909,400 |
The LTV limit still applies on top of these. A $12,000 earner looking at a $1,500,000 condo is capped at $1,125,000 by LTV (75%), below the $1,382,400 their income allows. At $2,000,000, the LTV cap is $1,500,000, so their income becomes the limit.
Joint borrowers: a 30-year-old earning $6,000 and a 40-year-old earning $10,000 have an income-weighted average age of 36.25. That leaves about 28 years to age 65 for the full 75% LTV.
How to work out your own limit
- Add up the income a bank will count: fixed income in full, variable income at 70% of the 12-month average.
- Take 55% of that (30% for an HDB flat or EC under MSR), then subtract your existing monthly debts.
- Convert what’s left into a loan at 4% over your allowed tenure. Ask the bank or an adviser to check the repayment calculation.
- Compare it with 75% (or 45%) of the price you have in mind.
- The lower figure is your planning number. An in-principle approval confirms it with a bank.
Frequently asked questions
Will I actually pay 4% interest?
No. The 4% is only for the affordability test. You pay the package rate.
Can I borrow more with a longer tenure?
Yes, until the tenure goes beyond 30 years (25 for HDB flats) or past age 65. At that point the LTV limit drops to 55%.
Does an HDB loan follow the same numbers?
No. HDB loans go up to 75% of the lower of price and valuation, and HDB computes eligibility with its own 3% floor. Your HFE letter shows your HDB loan amount.
Does my CPF change how much I can borrow?
CPF savings can help fund the downpayment and instalments, but they do not by themselves raise the bank’s LTV or TDSR limits. The bank still assesses the loan against the property and your income.
Want your number before you view?
Send us the property type and price range, the age and income (fixed and variable) of each borrower, any existing monthly debts, and how many housing loans you already have. We’ll work out your borrowing limit and show which one binds.
Related guides
Sources: MAS — Loan Tenure and LTV Limits; MAS — Rules for New Housing Loans; MAS — Calculating TDSR; MAS — 2022 property measures; ABS — About Home Loans; MoneySense — How much can you afford?. Rules as at 10 October 2026.
