Property Downpayment Formula Explained, With Examples
Every property downpayment result comes from one formula. Once you understand what goes into it, you can sanity-check any figure you are given, whether by an employer, a bank, a teacher or another website.
The formula
Loan = price × (1 − cash % − CPF %).
What each input means
- Property price (S$): the value you enter in the calculator.
- Cash downpayment (%): the value you enter in the calculator.
- CPF downpayment (%): the value you enter in the calculator.
Example
For example, with these inputs:
- Property price (S$): 900,000
- Cash downpayment (%): 5
- CPF downpayment (%): 20
the calculator returns:
- Cash portion: S$45,000.00
- CPF portion: S$180,000.00
- Loan amount: S$675,000.00
How the result changes
The table keeps the other inputs at their example values and changes property price (s$).
| Property price (S$) | Cash portion | CPF portion | Loan amount |
|---|---|---|---|
| 900,000 | S$45,000.00 | S$180,000.00 | S$675,000.00 |
| 450,000 | S$22,500.00 | S$90,000.00 | S$337,500.00 |
| 675,000 | S$33,750.00 | S$135,000.00 | S$506,250.00 |
| 1,125,000 | S$56,250.00 | S$225,000.00 | S$843,750.00 |
| 1,350,000 | S$67,500.00 | S$270,000.00 | S$1,012,500.00 |
Why it matters
Property is the largest purchase most Singaporeans make, and stamp duties, loan limits and cash requirements are front-loaded. Small mistakes in these figures can mean a shortfall at completion, so it pays to run the numbers before you commit to an option to purchase.
Beyond the price, buyers should budget for legal fees, valuation, home insurance, renovation and furnishing. Running the figures in advance helps you decide how much cash to hold back and whether a smaller loan or longer tenure makes more sense.
CPF Ordinary Account savings can pay for the downpayment, stamp duties and monthly instalments, but using CPF reduces the money compounding for retirement, and the amount withdrawn plus accrued interest must be refunded to your CPF account when you sell.
The Total Debt Servicing Ratio limits monthly debt repayments to 55% of gross monthly income for any property loan, and the Mortgage Servicing Ratio limits the housing instalment to 30% of income for HDB flats and new executive condominiums. Banks apply a medium-term interest rate in these tests rather than the rate you will actually pay.
Related calculations
- Additional Buyer's Stamp Duty (ABSD) Calculator: Calculates ABSD by buyer profile and the number of residential properties owned, using the rates in force since 27 April 2023.
- Total Property Stamp Duty Calculator: Adds BSD and ABSD together so you know the full stamp duty bill before you sign an option to purchase.
- Seller's Stamp Duty (SSD) Calculator: Calculates SSD for residential property bought on or after 4 July 2025 and sold within four years.
- HDB Loan Calculator: Calculates monthly repayments on an HDB concessionary loan, which is pegged at 0.1% above the CPF Ordinary Account rate (2.6% a year).
Use the Property Downpayment Calculator to plug in your own numbers.
Run your own numbers: Property Downpayment Calculator