Singapore Condo Downpayment Calculator + 2026 Cash/CPF Rules

The minimum downpayment for a Singapore condo in 2026 is 25% of the purchase price (the LTV cap is 75% for a first bank loan). Of that, 5% must be cash and the remaining 20% can be cash or CPF Ordinary Account. On top, you pay Buyer's Stamp Duty (BSD) — $44,600 on a $1.5M condo. If it's your 2nd or 3rd property, ABSD adds another 20–30%. Your monthly mortgage must also fit within TDSR 55% of gross income at the 4% stress-test rate.

Use the Downpayment Calculator to model your specific cash + CPF requirement.

Singapore condo downpayment at a glance (2026)

Add ABSD if it's a 2nd property (+20% of price) or 3rd+ (+30%). For Singapore Citizens buying their first property: ABSD = 0.

The 25% downpayment rule — broken down

The 75% LTV cap = 25% minimum downpayment. That 25% has two cash/CPF sub-components:

5% must be CASH (the "cash-on-hand" minimum) — cannot be paid from CPF, cannot be borrowed.

20% can be cash or CPF OA — most buyers use a mix. CPF OA can cover this portion in full if the balance allows.

For a $1.5M condo:

• Minimum cash on hand: $75,000 (5% × $1.5M)
• Plus 20% from any source: $300,000 from cash + CPF OA combined
• Total downpayment: $375,000

The 5% cash floor cannot be circumvented. Buyers without sufficient liquid cash typically delay purchase until they accumulate enough — using a low-interest savings vehicle while waiting.

Stamp duty on top of the downpayment

BSD and (if applicable) ABSD are due within 14 days of exercising the Option to Purchase (resale) or signing the Sale & Purchase Agreement (new launch). They can be paid from CPF OA or cash.

BSD — 6-tier schedule (post 15 Feb 2023, residential)

Worked example — $1.5M condo: $180K × 1% + $180K × 2% + $640K × 3% + $500K × 4% = $1,800 + $3,600 + $19,200 + $20,000 = $44,600 BSD.

ABSD — by buyer profile (post 27 Apr 2023)

If you're a Singapore Citizen buying your first property, ABSD is zero. Most ABSD pain hits second-property buyers and foreigners.

ABSD remission for married couples: SC married couples buying a replacement matrimonial home can apply for ABSD remission if the existing property is sold within 6 months of the new purchase (resale) or TOP (new launch).

The TDSR test — can you actually borrow the rest?

Banks won't lend you the 75% just because you have the 25% downpayment. They apply the Total Debt Servicing Ratio (TDSR) test:

Total monthly debt obligations (mortgage + car loans + credit cards + personal loans) ≤ 55% of gross monthly income.

Critically, the mortgage portion is calculated at a stress-test rate of 4% p.a. or prevailing rate, whichever higher — even if your actual mortgage interest is 3.5%. This protects against rate increases.

Worked TDSR check — couple earning $20,000/month wanting a $1.5M condo

• 75% LTV = $1.125M loan
• 30-year tenure, 4% stress test
• Monthly mortgage at stress test: ~$5,370
• Couple's max debt allowance: 55% × $20,000 = $11,000/month
• Other debts (car loan + credit card minimums): say $1,500
• Available for mortgage: $9,500
• Verdict: $5,370 fits within $9,500 — couple qualifies on TDSR

If the couple earned $14,000/month instead:

• Max debt allowance: 55% × $14,000 = $7,700
• After other debts: $6,200 available
• Mortgage $5,370 still fits — OK

At $11,000/month combined income:

• Max debt allowance: $6,050
• After other debts: $4,550 available
• Mortgage $5,370 > $4,550 — FAIL on TDSR

In that last case, the couple would need to either (a) extend tenure (but tenure beyond 30 years tightens LTV further), (b) buy a cheaper property, or (c) reduce other debts before applying.

MSR doesn't apply to private condos

MSR (Mortgage Servicing Ratio) caps the housing loan portion at 30% of gross income — but only for HDB and EC purchases, NOT private condos. For private condos, TDSR is the only income-based debt constraint.

This is why high-earning couples often qualify for larger condos than they would qualify for the equivalent HDB BTO: the MSR's tighter 30% cap binds first on HDB but doesn't on condo.

The CPF Withdrawal Limit (120% of valuation)

Beyond the 5%-cash / 20%-cash-or-CPF downpayment rule, CPF imposes a separate cap: total CPF used across downpayment + monthly mortgage payments cannot exceed 120% of the property's valuation.

For a $1.5M condo: max CPF deployable across the property's life = $1.8M.

Most buyers exhaust this WL around year 12–15 of a 30-year mortgage. Once hit, monthly mortgage payments must come from cash. Plan for this in long-term cash-flow projection.

Worked example: 35-year-old couple buying a $1.5M first condo

Profile: Both 35, Singapore Citizens, combined gross income $18,000/month. First property purchase. $250,000 in cash savings, $400,000 combined CPF OA, no other debts.

Step 1 — Downpayment. 25% × $1.5M = $375,000. Minimum $75,000 cash + $300,000 cash/CPF.

Step 2 — Source the downpayment.

• $75,000 cash for the 5% minimum
• $300,000 from CPF OA (since they have $400K combined)
• Cash remaining after downpayment: $175,000

Step 3 — BSD. $44,600. Pay from CPF OA. CPF remaining: $400K − $300K (downpayment) − $44.6K (BSD) = $55,400.

Step 4 — TDSR check.

• Loan: $1,125,000 over 30 years
• Stress-test rate: 4%
• Monthly stress-test payment: ~$5,370
• Max debt allowance: 55% × $18,000 = $9,900
• Other debts: $0
• TDSR margin: $9,900 − $5,370 = $4,530. Comfortable. Approved.

Step 5 — Actual mortgage cost at current rates.

• Assume actual rate 3.5% (instead of the 4% stress-test rate)
• Monthly payment at 3.5%, 30-year: ~$5,050
• Annual: ~$60,600
• Over 30 years (assuming rate stable): $1.82M total payments on the $1.125M loan

Step 6 — Cash position after closing.

• Cash remaining: $175,000 (post-downpayment)
• 6-month emergency fund target: ~$10,000/month × 6 = $60,000
• Reno + furniture buffer: $80,000
• Cash leftover for investments / other goals: $35,000

The couple is fully qualified, has a healthy buffer, and has not exhausted their CPF or cash position. The purchase is financially defensible.

When does buying a condo not make sense?

Four scenarios where the maths fails:

1. TDSR is tight (margin < $500/month). Any rate rise blows through the safety buffer. Better to buy a cheaper property.
2. 5% cash minimum drains your emergency fund. Don't deplete the safety net for a downpayment.
3. You'll need the property to appreciate >4% per year to break even on opportunity cost. Singapore private residential indices grew ~3-4% annually 2010–2025. Don't assume outsized capital gains.
4. You're in your 50s with limited time to hold. 5-year hold post-purchase often loses money once stamp duties, agent fees, and seller's stamp duty (SSD if sold within 4 years for post-Jul-2025 purchases) are factored in.

Related calculators

• Downpayment Calculator — model cash + CPF split for any purchase price
• HDB Affordability Calculator — same logic for HDB BTO/resale
• BSD Calculator — exact stamp duty by purchase price
• ABSD Calculator — if it's a 2nd or 3rd property
• Mortgage Calculator — monthly repayment at actual rates
• Decoupling Calculator — second-property buyers considering decoupling to reduce ABSD
• TDSR Calculator — confirm you pass the 55% debt-servicing test

Sources

• MAS — TDSR and LTV regulations (mas.gov.sg)
• IRAS — BSD and ABSD schedules (iras.gov.sg/taxes/stamp-duty)
• CPF Board — Property purchase using CPF Ordinary Account
• HDB — Housing Loan LTV (75% from 20 Aug 2024 — but note this applies to HDB loans, not bank loans for private condo)
• Audits #1 (HDB), #4 (IRAS Tax, confirmed BSD/ABSD), #10 (MAS Banking) — May 2026 Perplexity Deep Research verification against primary sources