Loan-to-Value (LTV) Calculator (2026)
Check your maximum loan amount and minimum downpayment based on Singapore's LTV limits.
What is Loan-to-Value (LTV)?
The Loan-to-Value (LTV) ratio is the maximum percentage of a property's value that a lender will finance. In Singapore, LTV limits are set by MAS and determine how much you can borrow and how much downpayment you need for your property purchase.
Quick Answer
Result updates as you type
Maximum Loan Amount
$375,000.00
HDB Loan — LTV 75%
Maximum loan as a percentage of property value
Min Downpayment
$125,000.00
Min Cash
$25,000.00
Min CPF
$100,000.00
LTV limits set by MAS. HDB loans are only available for HDB flats.
Disclaimer
This calculator provides estimates and should not be viewed as a prediction. Actual stamp duty, grant amounts, loan eligibility, and monthly payments may vary due to changing interest rates, policy changes, and individual eligibility. It is not intended to be your sole source of financial guidance.
Rates last verified: 4 Apr 2026.
Verify with HDB (https://www.hdb.gov.sg). Full disclaimer at smartcalculator.sg/disclaimer.
Quick Reference
- • HDB concessionary loan (1st property): 75% LTV, 25% downpayment, fully payable from CPF OA with $0 cash minimum (HDB was aligned with bank loans on 20 Aug 2024)
- • Bank loan (1st property): 75% LTV, 25% downpayment (min 5% cash)
- • 2nd outstanding housing loan: 45% LTV, 55% downpayment (min 25% cash)
- • 3rd+ outstanding housing loan: 35% LTV, 65% downpayment (min 25% cash)
- • First property, no outstanding loans: max LTV 75% (HDB or bank)
- • Second property with outstanding loan: max LTV drops to 45%
- • HDB loan: 5% cash requirement waived — full 25% downpayment can be CPF
Who This Calculator Is For
LTV limits determine both your maximum loan and minimum downpayment. Your situation determines which LTV tier applies to you.
First-Time Buyers
Both HDB and bank loans offer 75% LTV for your first property, but the cash vs CPF split differs significantly between the two.
- •HDB loan LTV: 75% — full 25% downpayment can be CPF OA, no cash required
- •Bank loan LTV: 75% — minimum 5% cash + up to 20% CPF OA
- •Max loan (HDB loan): 75% of purchase price or valuation (lower)
- •Income ceiling: HDB loan eligibility capped at $14,000/month
Buyers with Existing Property Loan
LTV drops to 45% if you have one outstanding housing loan, requiring a 55% downpayment — with at least 25% in cash.
- •2nd property LTV: 45% (downpayment = 55%, min 25% cash)
- •3rd+ property LTV: 35% (downpayment = 65%, min 25% cash)
- •ABSD applies: 20% for SC buying 2nd property
- •Strategy: selling first property before purchase restores 75% LTV
Buyers Near Age 65 or Longer Tenures
If your loan tenure exceeds 30 years or age + tenure exceeds 65, the LTV limit for bank loans drops from 75% to 55%.
- •Standard bank LTV: 75% (tenure ≤30 yrs, age + tenure ≤65)
- •Reduced bank LTV: 55% (tenure >30 yrs or age + tenure >65)
- •HDB loan max tenure: 25 years (age + tenure cannot exceed 65)
- •Plan early: longer tenure reduces monthly payment but may lower LTV
How LTV Limits Work in Singapore
The Loan-to-Value (LTV) ratio determines the maximum percentage of your property's value that a lender will finance. Singapore's LTV limits are set by MAS and vary based on the loan type and the number of outstanding housing loans you have.
For your first housing loan, both HDB concessionary loans and bank loans cap at 75% LTV (HDB was lowered from 80% on 20 Aug 2024 to align with bank loans). The remaining 25% must be covered by your downpayment, which can be a combination of cash and CPF depending on the loan type.
LTV limits decrease significantly for subsequent properties. If you have one outstanding housing loan, the LTV drops to 45%. With two or more outstanding loans, the limit falls to 35%. These progressive limits are part of Singapore's property cooling measures.
Worked example: You buy a $600,000 HDB flat. Maximum LTV = 75%, so maximum loan = $450,000. Minimum downpayment = 25% = $150,000. Of this, at least 5% ($30,000) must be in cash; the remaining 20% ($120,000) can come from CPF OA. Note: the 5% cash requirement applies to bank loans; HDB concessionary loans allow the full 25% downpayment to be from CPF.
If you already have an outstanding housing loan when buying your next property, LTV limits tighten significantly: the LTV drops to 45% for a second loan (loan tenure ≤30 years, borrower ≤65). This means a $1,000,000 second property requires a minimum downpayment of $550,000. Additionally, ABSD of 20% (for Singapore Citizens) applies on the second property. Selling the first property before completing the second purchase avoids these tighter limits.
LTV Limits Summary
HDB Loan (1st Property): 75% LTV
25% downpayment, fully payable from CPF OA ($0 cash minimum)
Bank Loan (1st Property): 75% LTV
25% downpayment, min 5% in cash
2nd Outstanding Loan: 45% LTV
55% downpayment, min 25% in cash
3rd+ Outstanding Loan: 35% LTV
65% downpayment, min 25% in cash
LTV Limits by Loan Scenario
Your maximum LTV — and therefore your minimum downpayment — depends on your loan type, number of existing loans, and loan tenure.
| Scenario | Max LTV | Min Downpayment | Min Cash | CPF OA Allowed |
|---|---|---|---|---|
| HDB Loan — 1st property | 75% | 25% | $0 | 25% |
| Bank Loan — 1st property (standard) | 75% | 25% | 5% | 20% |
| Bank Loan — 1st property (long tenure) | 55% | 45% | 10% | 35% |
| Bank Loan — 2nd outstanding loan | 45% | 55% | 25% | 30% |
| Bank Loan — 3rd+ outstanding loans | 35% | 65% | 25% | 40% |
Frequently Asked Questions
What is the LTV limit for HDB loans vs bank loans?expand_more
Both HDB concessionary loans and bank loans on first property are capped at 75% LTV (HDB was lowered from 80% on 20 Aug 2024 to align with bank loans). You need a minimum 25% downpayment for either, though the cash/CPF split differs: HDB concessionary allows the full 25% from CPF OA with no cash minimum; bank loans require at least 5% in cash with the remaining 20% from CPF or cash.
How does LTV change for a second property?expand_more
For a second outstanding housing loan, the LTV limit drops to 45% for bank loans (with at least 25% in cash). For a third or subsequent outstanding housing loan, the LTV is further reduced to 35% (with at least 25% in cash). These rules are designed to promote financial prudence.
What are the cash downpayment requirements?expand_more
For your first bank housing loan, at least 5% of the purchase price must be paid in cash, with the remaining 20% from CPF or cash. For a second bank housing loan, at least 25% must be in cash. HDB concessionary loans require 25% downpayment (since LTV was lowered from 80% to 75% on 20 Aug 2024) and the entire 25% can be paid from CPF OA with no cash minimum.
Does the LTV limit apply to the purchase price or valuation?expand_more
The LTV limit applies to the lower of the purchase price or the valuation of the property. If you buy above valuation, you will need to pay the difference (known as Cash Over Valuation or COV) entirely in cash on top of the required downpayment.
Does the LTV limit apply to HDB and private property differently?expand_more
No — the MAS LTV framework applies equally to both HDB loans and bank loans for property purchases. Both types have a maximum LTV of 75% for borrowers with no outstanding housing loans, dropping to 45% for borrowers with one existing housing loan, and 35% for those with two or more. However, HDB loans have an additional benefit: the 5% minimum cash downpayment requirement does not apply, so the entire 25% downpayment can come from CPF OA.
How does loan tenure affect the LTV limit?expand_more
Loan tenure affects LTV limits for bank loans. If the loan tenure extends beyond 30 years, or if the loan tenure plus the borrower's age exceeds 65, the maximum LTV drops from 75% to 55%. For HDB loans, the maximum tenure is 25 years and the borrower's age plus tenure cannot exceed 65 — so this tighter LTV does not typically apply. Always calculate the maximum LTV based on your age and desired tenure before budgeting.
Sources
- • MAS — Loan-to-Value limits for residential property loans (mas.gov.sg)
- • HDB — HDB loan eligibility and financing conditions (hdb.gov.sg)