singapore • SGD

Singapore Mortgage Calculator 2026

Work out the monthly repayment on an HDB or bank loan in Singapore, how much of it CPF Ordinary Account savings can cover, and whether the loan clears MSR and TDSR. Affordability is assessed at the MAS medium-term interest rate floor, which is the rate a lender actually tests you against.

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Property & Loan Details

Property Type

HDB and private properties have different LTV limits, MSR requirements, and loan types.

Loan Type

HDB loans offer up to 75% LTV at 2.6% fixed (reduced from 80% on 20 Aug 2024). Bank loans offer up to 75% LTV with variable rates.

Purchase Price (SGD)

Total purchase price of the property.

How this estimate was calculated

MSR and TDSR are assessed at the 3.00% medium-term interest rate floor, not your 2.60% rate — that is the MAS rule, so your assessed instalment is $1,778, not $1,701.
$60,000 of your CPF OA goes to the downpayment, leaving $0 towards instalments. Future OA contributions from salary are not modelled.
Downpayment and loan amount were derived from the 75% LTV cap. Enter either field to override.

Financial Disclaimer: This is an illustration of mortgage repayments, not a quote or an offer of lending. Actual terms depend on the lender, your credit assessment and MAS rules such as TDSR. Confirm figures with your bank before committing to a purchase. Full disclaimer.

Sources & methodology

Formula:: Monthly instalment (amortising loan)
Reference:: Monetary Authority of Singapore
Rates for:: 2026
Figures verified:: September 2026 — checked against the primary source above
Scheduled re-verification:: March 2027

Calculation type: Rule-based calculation. Uses 2026 rates and thresholds. Figures are taken from Monetary Authority of Singapore and Housing & Development Board — see sources below.

Reviewed by Team GlobalCalqulate — Verifies each figure against the issuing authority's published source · Checked 14 September 2026

Your entries stay on this device. This calculator runs entirely in your browser — the figures you type are not sent to us or to anyone else. The page itself uses cookies for analytics and advertising, described in the privacy policy.

Formula & methodology

Formula used

Monthly instalment (amortising loan)

M = L × [r(1+r)^n] / [(1+r)^n − 1]

L is the loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly instalments over the loan tenure.

Stress-tested instalment (used for MSR and TDSR)

M* = L × [r*(1+r*)^n] / [(1+r*)^n − 1],  r* = max(your rate, floor) / 12

MAS requires the ratios to be computed at the higher of your actual rate and a medium-term interest rate floor — 4.0% for a bank loan, 3.0% for HDB's assessment of its concessionary loan. At the 2.6% HDB rate the floor is what binds, so the assessed instalment is higher than the one you actually pay.

MSR (HDB only)

MSR = stress-tested instalment / gross monthly income

Mortgage Servicing Ratio applies only to HDB flats (HDB loan or bank loan) and is capped at 30% of gross monthly income.

TDSR (all properties)

TDSR = (stress-tested instalment + other debt repayments) / gross monthly income

Total Debt Servicing Ratio applies to every property loan in Singapore and is capped at 55% of gross monthly income.

Variable definitions

Symbol	Meaning	Unit
L	Loan amount. purchase price minus downpayment	SGD
r	Monthly interest rate. annual interest rate ÷ 12	%
n	Number of instalments. loan tenure in years × 12	months

Step-by-step calculation

1. Determine the LTV limit
HDB concessionary loans and bank loans both cap at 75% LTV for a borrower's first outstanding housing loan; a lower cap applies to a second or subsequent loan under MAS rules.
2. Compute downpayment and loan amount
The minimum downpayment follows from the LTV limit unless you enter your own loan amount or downpayment.
3. Amortise the loan
Monthly instalment is calculated with the standard amortisation formula from the loan amount, rate and tenure.
4. Re-price the instalment at the rate floor
The instalment is recomputed at the higher of your rate and the MAS medium-term interest rate floor (4.0% bank / 3.0% HDB). This stress-tested figure — not the one you pay — is what MSR and TDSR are measured against.
5. Check MSR and TDSR
MSR (30%, HDB only) and TDSR (55%, all properties) are checked against gross monthly income and other debts to flag likely affordability limits.

Limitations

Models a borrower's FIRST outstanding housing loan. The lower LTV caps on a second (45%) or subsequent (35%) housing loan, and the 55% cap where the tenure runs past age 65 or beyond 30 years, are not applied — the form has no input for existing housing loans or borrower age.
Does not model ABSD, BSD, legal fees or valuation shortfalls, which affect total cash needed at completion.
CPF usage assumes the Ordinary Account balance you enter is spent on the downpayment first and the remainder is available for instalments. Future OA contributions from salary are not projected, and the Basic Retirement Sum withdrawal restriction that applies from age 55 is not modelled.

This page is educational. It applies a standard formula to the figures you enter and shows the arithmetic behind the result. It is an estimate, not an offer, a quotation or financial advice: real costs depend on the provider's pricing, fees and underwriting, and on circumstances this calculator does not collect.

Sources & references

MAS Notice 632 — Residential Property Loans (loan-to-value limits) — Monetary Authority of Singapore
HDB Loan Eligibility and Concessionary Interest Rate — Housing & Development Board
Calculating TDSR for Property Loans — Monetary Authority of Singapore
Measures to Promote Sustainable Conditions in the Property Market (30 Sep 2022) — medium-term interest rate floor — Monetary Authority of Singapore
Macroprudential Policies in Singapore — Monetary Authority of Singapore

Help & FAQs

Frequently Asked Questions

Clear answers to common questions to help you use this calculator confidently.

What's the maximum LTV for a home loan in Singapore?

Tap to view the answer

75% for a borrower's first outstanding housing loan, whether it's an HDB concessionary loan or a bank loan. A second or subsequent housing loan gets a lower LTV cap under MAS rules, meaning a larger downpayment.

What's the difference between an HDB loan and a bank loan?

Tap to view the answer

The HDB concessionary loan is available only for HDB flats, has a fixed rate (2.6% as of 2026) and a 25-year maximum tenure. Bank loans are available for any property, use variable SORA-based or fixed rates, and allow up to 30 years (subject to an age-65 cap on loan tenure plus borrower age).

What are MSR and TDSR?

Tap to view the answer

MSR (Mortgage Servicing Ratio) caps your mortgage instalment at 30% of gross income, but only applies to HDB flats. TDSR (Total Debt Servicing Ratio) caps ALL monthly debt obligations — mortgage plus car loans, personal loans and credit cards — at 55% of gross income, and applies to every property type.

Can I use CPF for my downpayment and monthly instalments?

Tap to view the answer

Yes. CPF Ordinary Account savings can cover the downpayment (subject to withdrawal limits) and monthly instalments. A bank loan requires at least 5% of the minimum downpayment in cash; an HDB loan does not have that cash-component requirement.

Do first-time buyers get a higher loan limit?

Tap to view the answer

No — the 75% LTV cap applies to any borrower's first outstanding housing loan regardless of first-timer status. What first-timers can access instead is CPF Housing Grants for HDB flats and priority allocation for BTO units.

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How to Use This Calculator

Enter property type and purchase price

Select HDB, condo, or landed. This determines LTV limits and MSR requirements.

Choose loan type

HDB concessionary loan (2.6%) or bank loan (variable rates, up to 75% LTV).

Set loan tenure and interest rate

HDB max 25 years, bank max 30 years. Adjust interest rate based on current market.

Add CPF OA balance and monthly income

Used to calculate CPF usage and check MSR/TDSR eligibility.

Review monthly repayments

See principal, interest, total payment, and CPF vs cash split.

Check affordability

See if you meet MSR (30%) for HDB and TDSR (55%) for all properties.

Understanding Your Results

Monthly Mortgage Payment
Total monthly repayment including principal and interest.
Principal vs Interest
Breakdown of how much goes to reducing principal vs paying interest.
CPF Contribution (if used)
Amount deducted from CPF OA monthly. Reduces cash outlay.
Cash Top-Up (if applicable)
Monthly cash payment if CPF is insufficient to cover the full instalment.
Total Interest Over Tenure
Total interest paid over the full loan period.
MSR (Mortgage Servicing Ratio)
Monthly mortgage payment as a percentage of gross income. HDB loans: max 30%.
TDSR (Total Debt Servicing Ratio)
Total monthly debt obligations as a percentage of gross income. Max 55%.
LTV (Loan-to-Value) Ratio
Loan amount as a percentage of property value. HDB concessionary loan: max 75% (since 20 Aug 2024). Bank loan: max 75%.

Key Tips

✓
HDB loan is cheaper (2.6%) but only for HDB flats with income ≤ SGD 14,000.
✓
Bank loans offer higher loan amounts (up to SGD 2 million+) but variable rates – monitor SORA trends.
✓
Keep MSR below 25% to leave room for other expenses – the max is 30%.
✓
TDSR at 55% includes ALL debts – reduce car loans and credit card debt before applying.
✓
Use CPF OA for monthly payments to reduce cash outflow, but preserve enough for retirement.
✓
A SGD 100,000 lower loan amount saves SGD 36,000 in interest over 25 years at 2.6%.
✓
Fixed rates offer stability but may be higher – consider floating if you can manage volatility.
✓
Refinance after the lock-in period (2-3 years) to get lower rates – compare all banks.

Singapore Mortgage & Home Loan Guide (2026)

HDB concessionary loan vs bank loan

HDB loans are available only for HDB flats, with a fixed 2.6% interest rate, 25-year tenure, and 75% LTV (reduced from 80% on 20 Aug 2024). Bank loans are available for all property types with variable rates (SORA-based), up to 75% LTV on a borrower's first outstanding housing loan (lower for a second or subsequent loan, under MAS's LTV framework), and up to 30-year tenure (subject to an age-65 cap on loan tenure plus borrower age).

LTV limits for 2026

HDB concessionary loans: 75% LTV. Bank loans: 75% for a borrower's first outstanding housing loan (private property or HDB), lower for a second or subsequent loan under MAS rules. The LTV limit determines the minimum downpayment: 25% for an HDB loan or a bank loan on a first housing loan, of which at least 5% must be cash for a bank loan.

MSR – Mortgage Servicing Ratio (for HDB)

MSR limits monthly mortgage payment to 30% of gross income. This applies only to HDB loans and bank loans for HDB flats. For private property, MSR does not apply.

TDSR – Total Debt Servicing Ratio

TDSR limits total monthly debt obligations (mortgage, car loans, credit cards, student loans) to 55% of gross income. TDSR applies to all property loans in Singapore under MAS rules. Note: MAS assesses MSR/TDSR against a stress-tested interest rate floor, not the loan's actual quoted rate — this calculator checks MSR/TDSR against the interest rate you entered, so it can show a more favourable result than a bank's actual underwriting.

CPF usage for mortgages

CPF OA can be used for downpayment (up to valuation limits) and monthly instalments. Withdrawal limits apply, and you cannot use CPF if OA balance is below the Basic Retirement Sum (BRS) for housing if you are 55+.

Interest rate trends – SORA vs fixed rates

Bank loans in Singapore are typically pegged to SORA (Singapore Overnight Rate Average) plus a spread. Fixed rates are also available. For 2026, rates range from 2.9% to 3.5% depending on the bank and loan package.

Total interest cost over loan tenure

For a SGD 500,000 loan at 2.6% over 25 years, total interest is ~SGD 183,000. At 3.2%, interest increases to ~SGD 230,000. Choosing a lower rate or shorter tenure saves significantly.

Early repayment and refinancing

Most bank loans allow partial or full early repayment with penalty fees (typically 1.5% of outstanding). Refinancing after the lock-in period (usually 2-3 years) can lower your rate.

HDB resale vs BTO – loan differences

BTO flats are only eligible for HDB loans (subject to income ceiling of SGD 14,000). Resale HDB flats can use either HDB or bank loans. Both HDB and bank loans for HDB flats currently cap LTV at 75%, so the loan-amount difference between the two is smaller than it used to be — the main differences are the fixed 2.6% HDB rate versus a variable bank rate, and CPF/eligibility rules.

First-timer benefits

First-time homebuyers do not receive a higher LTV limit on a private-property bank loan — the 75% LTV cap applies to any borrower's first outstanding housing loan regardless of first-timer status. What first-timers CAN access is CPF Housing Grants for HDB flats and priority schemes for BTO. Check the HDB and MAS websites for current rules before assuming an LTV benefit that does not exist.

Disclaimer

This calculator provides estimates for educational purposes. Actual loan eligibility, interest rates, and CPF withdrawal limits depend on HDB, MAS, and individual bank policies. Always consult a mortgage broker or bank for official figures.

Formula & methodology

Formula used

Monthly instalment (amortising loan)

M = L × [r(1+r)^n] / [(1+r)^n − 1]

L is the loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly instalments over the loan tenure.

Stress-tested instalment (used for MSR and TDSR)

M* = L × [r*(1+r*)^n] / [(1+r*)^n − 1],  r* = max(your rate, floor) / 12

MSR (HDB only)

MSR = stress-tested instalment / gross monthly income

Mortgage Servicing Ratio applies only to HDB flats (HDB loan or bank loan) and is capped at 30% of gross monthly income.

TDSR (all properties)

TDSR = (stress-tested instalment + other debt repayments) / gross monthly income

Total Debt Servicing Ratio applies to every property loan in Singapore and is capped at 55% of gross monthly income.

Variable definitions

Symbol	Meaning	Unit
L	Loan amount. purchase price minus downpayment	SGD
r	Monthly interest rate. annual interest rate ÷ 12	%
n	Number of instalments. loan tenure in years × 12	months

Step-by-step calculation

1. Determine the LTV limit
HDB concessionary loans and bank loans both cap at 75% LTV for a borrower's first outstanding housing loan; a lower cap applies to a second or subsequent loan under MAS rules.
2. Compute downpayment and loan amount
The minimum downpayment follows from the LTV limit unless you enter your own loan amount or downpayment.
3. Amortise the loan
Monthly instalment is calculated with the standard amortisation formula from the loan amount, rate and tenure.
4. Re-price the instalment at the rate floor
The instalment is recomputed at the higher of your rate and the MAS medium-term interest rate floor (4.0% bank / 3.0% HDB). This stress-tested figure — not the one you pay — is what MSR and TDSR are measured against.
5. Check MSR and TDSR
MSR (30%, HDB only) and TDSR (55%, all properties) are checked against gross monthly income and other debts to flag likely affordability limits.

Limitations

Models a borrower's FIRST outstanding housing loan. The lower LTV caps on a second (45%) or subsequent (35%) housing loan, and the 55% cap where the tenure runs past age 65 or beyond 30 years, are not applied — the form has no input for existing housing loans or borrower age.
Does not model ABSD, BSD, legal fees or valuation shortfalls, which affect total cash needed at completion.
CPF usage assumes the Ordinary Account balance you enter is spent on the downpayment first and the remainder is available for instalments. Future OA contributions from salary are not projected, and the Basic Retirement Sum withdrawal restriction that applies from age 55 is not modelled.

Singapore Mortgage & Home Loan Guide (2026)

HDB concessionary loan vs bank loan

LTV limits for 2026

MSR – Mortgage Servicing Ratio (for HDB)

MSR limits monthly mortgage payment to 30% of gross income. This applies only to HDB loans and bank loans for HDB flats. For private property, MSR does not apply.

TDSR – Total Debt Servicing Ratio

CPF usage for mortgages

Interest rate trends – SORA vs fixed rates

Total interest cost over loan tenure

For a SGD 500,000 loan at 2.6% over 25 years, total interest is ~SGD 183,000. At 3.2%, interest increases to ~SGD 230,000. Choosing a lower rate or shorter tenure saves significantly.

Early repayment and refinancing

Most bank loans allow partial or full early repayment with penalty fees (typically 1.5% of outstanding). Refinancing after the lock-in period (usually 2-3 years) can lower your rate.

Calculator inputs

Property & Loan Details

Loan & Repayment4 options

CPF & Affordability Rules4 options

Your results

Sources & methodology

Formula & methodology

Formula used

Monthly instalment (amortising loan)

Stress-tested instalment (used for MSR and TDSR)

MSR (HDB only)

TDSR (all properties)

Variable definitions

Step-by-step calculation

Limitations

Sources & references

What's the maximum LTV for a home loan in Singapore?

What's the difference between an HDB loan and a bank loan?

What are MSR and TDSR?

Can I use CPF for my downpayment and monthly instalments?

Do first-time buyers get a higher loan limit?

Related calculators

More Singapore calculators

Calculator inputs

Property & Loan Details

Loan & Repayment4 options

CPF & Affordability Rules4 options

Your results

Sources & methodology

How to Use This Calculator

Example: S$500,000 HDB flat with an HDB loan

Understanding Your Results

Key Tips

Singapore Mortgage & Home Loan Guide (2026)

HDB concessionary loan vs bank loan

LTV limits for 2026

MSR – Mortgage Servicing Ratio (for HDB)

TDSR – Total Debt Servicing Ratio

CPF usage for mortgages

Interest rate trends – SORA vs fixed rates

Total interest cost over loan tenure

Early repayment and refinancing

HDB resale vs BTO – loan differences

First-timer benefits

Disclaimer

Formula & methodology

Formula used

Monthly instalment (amortising loan)

Stress-tested instalment (used for MSR and TDSR)

MSR (HDB only)

TDSR (all properties)

Variable definitions

Step-by-step calculation

Limitations

Sources & references

How to Use This Calculator

Example: S$500,000 HDB flat with an HDB loan

Understanding Your Results

Key Tips

Singapore Mortgage & Home Loan Guide (2026)

HDB concessionary loan vs bank loan

LTV limits for 2026

MSR – Mortgage Servicing Ratio (for HDB)

TDSR – Total Debt Servicing Ratio

CPF usage for mortgages

Interest rate trends – SORA vs fixed rates

Total interest cost over loan tenure

Early repayment and refinancing

HDB resale vs BTO – loan differences

First-timer benefits

Disclaimer