Loan-to-Value (LTV) in Singapore: Your Questions Answered
These are the questions people ask most often about loan-to-value (ltv). Each answer is short; follow the links for the full detail.
What does a loan-to-value (ltv) calculation tell me?
Shows the maximum bank loan and the minimum downpayment under MAS loan-to-value limits for loans up to 30 years (25 years for HDB flats).
What is the formula?
LTV is 75% for a first housing loan, 45% for a second and 35% for a third. At least 5% (first loan) or 25% (subsequent loans) must be paid in cash.
What do I need to enter?
Property price (S$), Housing loans you already have.
Should I rely on this before signing?
Use it to plan, then confirm the figures with your banker, lawyer or the IRAS stamp duty calculator before you exercise an option to purchase.
Can you show an example?
For example, with these inputs:
- Property price (S$): 1,000,000
- Housing loans you already have: None
the calculator returns:
- Maximum bank loan: S$750,000.00
- Minimum downpayment: S$250,000.00
- Minimum cash portion: S$50,000.00
Any tips?
- Banks test your TDSR at a stress-test rate, not the advertised rate, so your borrowing limit is lower than you might expect.
- Stamp duty is based on the purchase price or market value, whichever is higher.
- Stamp duty must be paid within 14 days of signing, so have the cash ready before you exercise the option.
Background
Singapore's property market is shaped by cooling measures introduced since 2009, including Additional Buyer's Stamp Duty, loan-to-value limits and debt servicing ratios. These rules are adjusted when the market runs hot, so the numbers you see today may differ from what friends paid a few years ago.
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stamp duties and monthly instalments, but using CPF reduces the money compounding for retirement, and the amount withdrawn plus accrued interest must be refunded to your CPF account when you sell.
Most Singaporeans live in HDB flats, which can be financed with an HDB concessionary loan at 0.1% above the CPF Ordinary Account rate or with a bank loan. Private property must be financed with a bank loan, and banks offer fixed, floating and SORA-pegged packages.
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).
Try it yourself with the Loan-to-Value (LTV) Calculator.
Run your own numbers: Loan-to-Value (LTV) Calculator