HDB Affordability Calculator
Find the HDB flat price you can afford from your income, CPF, and cash — using the 30% Mortgage Servicing Ratio, the 75% Loan-to-Value limit, the 2.6% HDB concessionary loan rate, and MAS's 4% stress-test floor.
HDB Affordability Calculator
The HDB flat price you can afford · 2026
Estimates only. Your actual budget also depends on the Buyer's Stamp Duty, legal and option fees, grant eligibility, and your HDB Flat Eligibility (HFE) letter. Figures are set by HDB and your bank.
Affordability
HDB LOANWhat sets your budget
Your maximum flat price is the lower of what your income can service (through the loan) and what your savings can cover (the 25% downpayment). This shows both limits. Per HDB.
The two ceilings
Upfront cash and CPF needed
Beyond the loan, you pay a downpayment plus Buyer's Stamp Duty and fees. This shows the split for your maximum flat price. Per HDB.
| Item | Amount | Payable with |
|---|---|---|
| Downpayment (25%) | SGD 80,000 | CPF and/or cash |
| Buyer's Stamp Duty | SGD 4,600 | CPF and/or cash |
| Loan (75% LTV) | SGD 240,000 | Monthly repayment SGD 1,089 |
The limits that apply
Three rules cap what you can borrow and how much you must put down. Per MAS and HDB.
| Rule | Limit | Applies to |
|---|---|---|
| MSR | 30% of gross monthly income | All HDB flat loans |
| TDSR | 55% of gross monthly income | Bank loans (all debts) |
| Loan-to-Value | 75% of price or value | HDB and bank loans |
| Downpayment | 25% of price | HDB loan: all CPF/cash; bank: min 5% cash |
| Stress-test rate | 4.0% floor | Servicing assessment |
| Max tenure | 25 years | HDB loan (age & lease apply) |
HDB loan vs bank loan
Both are options for an HDB flat. They differ in the interest rate, the downpayment rules, and the servicing limits. Per CPF Board.
| Feature | HDB loan | Bank loan |
|---|---|---|
| Interest rate | 2.6% (0.1% above CPF OA) | Market rate, fixed or floating |
| Loan-to-Value | Up to 75% | Up to 75% |
| Downpayment | 25%, all CPF/cash | 25%, min 5% cash |
| Servicing limits | MSR 30% | MSR 30% + TDSR 55% |
| Max tenure | 25 years | Up to 25 years (HDB flat) |
How affordability is worked out
The maximum flat price is the lower of a servicing limit and a savings limit.
| Step | Formula |
|---|---|
| Available repayment | 30% × income − debts (bank also ≤ 55% × income − debts) |
| Max loan (servicing) | Present value of repayment at the 4% floor over the tenure |
| Price by loan | Max loan ÷ 75% |
| Price by savings | (Cash + CPF + grant) ÷ 25% |
| Max flat price | Lower of the two prices above |
HDB Loan, Downpayment & Servicing Limits
The loan rate, Loan-to-Value, downpayment, and servicing-ratio rules that decide how much HDB flat you can afford in Singapore — sourced from HDB, CPF, and MAS.
Loan & Rate
What you borrow and the rate that applies to an HDB flat.
Servicing Limits
The ratios that cap the loan your income can support.
Income Ceilings
Household income caps to buy a new flat or take an HDB loan.
HDB Loan vs Bank Loan
Both can finance an HDB flat, but they differ on the interest rate, the downpayment, and the servicing limits. Per CPF Board.
| Feature | HDB loan | Bank loan |
|---|---|---|
| Interest rate | 2.6% | Market rate, fixed or floating |
| Loan-to-Value | 75% | 75% |
| Downpayment | 25% — all CPF and/or cash | 25% — min 5% cash + CPF/cash |
| Servicing limits | MSR 30% | MSR 30% + TDSR 55% |
| Maximum tenure | 25 years | Up to 25 years (HDB flat) |
The Limits That Cap Your Budget
Your maximum flat price is shaped by servicing ratios, the LTV cap, and the downpayment rule. Per MAS and HDB.
| Rule | Limit | Applies to |
|---|---|---|
| MSR | 30% | All HDB flat loans |
| TDSR | 55% | Bank loans (all debts) |
| Loan-to-Value | 75% | HDB and bank loans |
| Downpayment | 25% | HDB loan: all CPF/cash; bank: min 5% cash |
| Stress-test floor | 4.0% | Servicing assessment |
HDB Affordability News & Policy Updates
The HDB, CPF, and MAS rules that shape how much flat you can afford — the 2.6% HDB loan rate, the 75% Loan-to-Value limit, the 30% MSR, the 55% TDSR, the 4% stress-test floor, and the income ceilings.
HDB loan Loan-to-Value limit lowered to 75%
From 20 August 2024, the Loan-to-Value limit for HDB housing loans was lowered from 80% to 75%, aligning it with bank loans. Buyers now put down a larger downpayment, so savings play a bigger role in the flat price you can afford.
What changed
HDB concessionary loan LTV cut from 80% to 75%. The minimum downpayment for an HDB loan rose to 25% of the purchase price, payable from CPF and/or cash.
Effect on affordability
The loan covers less of the price, so the price your savings can cover (funds ÷ 25%) is more often the limit that sets your budget.
HDB concessionary loan rate stays at 2.6% for 2026
The HDB concessionary housing loan interest rate remains 2.6% per annum in 2026. It is pegged at 0.1% above the CPF Ordinary Account rate and is reviewed quarterly alongside the CPF interest rate.
How it is set
The concessionary rate is fixed at 0.1 percentage point above the prevailing CPF Ordinary Account rate, which has held the HDB rate at 2.6% for many years.
Why it matters
Your actual repayment uses the 2.6% rate, while the loan you can service is assessed at the higher 4% stress-test floor.
30% MSR and 55% TDSR still apply to HDB flat loans
The 30% Mortgage Servicing Ratio caps property-loan repayments for HDB flats, and the 55% TDSR applies to bank loans. For a bank loan on an HDB flat both apply, and the lower limit — usually the MSR — binds.
MSR
Caps property-loan repayments at 30% of gross monthly income for HDB flats and ECs bought from a developer.
TDSR
Caps all monthly debt repayments at 55% of gross monthly income; applies to bank loans on any property.
HDB Affordability — Frequently Asked Questions
Common questions about how much HDB flat you can afford — the HDB loan, the downpayment, the servicing limits, and CPF housing grants — with current HDB, CPF, and MAS rules.
Your maximum flat price is the lower of two limits: what your income can service through a loan, and what your savings can cover as the downpayment. The servicing limit takes 30% of your gross monthly income (the MSR), less existing debts, and converts it into a loan at the 4% stress-test floor over the tenure. The savings limit is your cash, CPF, and grant divided by the 25% downpayment. The lower of the two prices is your budget.
HDB — Financing a FlatTo buy a new flat or take an HDB concessionary loan, the gross monthly household income ceiling is SGD 14,000 for families, SGD 7,000 for singles (under the Single Singapore Citizen scheme), and SGD 21,000 for extended or multi-generation families. Households above the ceiling generally use a bank loan and the resale or private market.
HDB — Financing a FlatNo. This tool gives an estimate based on the servicing and downpayment rules only. Your actual budget also depends on the Buyer's Stamp Duty, legal and option fees, the flat's valuation, your credit history, and each lender's assessment. For a firm figure, obtain an HDB Flat Eligibility (HFE) letter or an In-Principle Approval from a bank.
HDB — Financing a FlatBoth can finance an HDB flat. The HDB concessionary loan charges 2.6% and needs no cash downpayment — the 25% can be fully CPF and/or cash. A bank loan charges a market rate (fixed or floating) and needs at least 5% of the price in cash. Both are capped at 75% Loan-to-Value. An HDB loan is assessed against the 30% MSR; a bank loan against the 30% MSR and the 55% TDSR.
CPF — HDB vs Bank LoanThe HDB concessionary housing loan rate is 2.6% per annum. It is pegged at 0.1% above the CPF Ordinary Account rate and reviewed quarterly. Your repayment uses this 2.6% rate, but the loan you can service is assessed at the higher 4% stress-test floor.
HDB — Interest RateThe Loan-to-Value limit is the most you can borrow against the flat's price or value. For HDB loans it is 75%, lowered from 80% on 20 August 2024, and bank loans are also capped at 75%. The remaining 25% is your downpayment.
HDB — Financing a FlatThe Mortgage Servicing Ratio (MSR) caps your property-loan repayments at 30% of gross monthly income. It applies to HDB flats and to Executive Condominiums bought from a developer. Because 30% is a relatively low ceiling, the MSR usually sets the servicing limit for an HDB flat.
MAS — MSR & TDSR RulesThe Total Debt Servicing Ratio (TDSR) caps all your monthly debt repayments — property, car, personal, student, and credit-card — at 55% of gross monthly income. It applies to bank loans. For a bank loan on an HDB flat both the 30% MSR and the 55% TDSR apply, and the lower limit binds.
MAS — MSR & TDSR RulesThe maximum tenure for an HDB concessionary loan is 25 years. It is also limited by your age and the flat's remaining lease — the lease must cover the youngest buyer to age 95. A longer tenure lowers the monthly repayment, so the same income can service a larger loan, but it also means more total interest.
HDB — Financing a FlatThe downpayment is 25% of the flat price, since both HDB and bank loans are capped at 75% LTV. How you pay it differs:
- HDB loan: the full 25% can be paid from CPF and/or cash, with no mandatory cash portion.
- Bank loan: at least 5% of the price must be in cash, and the remaining 20% can be CPF or cash.
Yes. Your CPF Ordinary Account savings can go toward the downpayment. With an HDB loan the entire 25% downpayment can come from CPF and/or cash. With a bank loan, CPF can cover up to 20% of the price, but at least 5% must be paid in cash. CPF can also be used for the monthly loan repayments.
CPF — HDB vs Bank LoanCPF housing grants such as the Enhanced CPF Housing Grant, the CPF Housing Grant, and the Proximity Housing Grant are paid into your CPF and help fund the downpayment, raising the flat price your savings can cover. Grant amounts depend on your household income, the flat type, and whether you are a first-timer. Estimate yours with our HDB Grant Calculator.
HDB — Financing a FlatThe relationships behind the maximum-flat-price estimate. Actual approval is made by HDB and your bank.
Available Repayment
MSR ceiling less existing debts (bank also within TDSR).
Bank loan is also capped at 55% × Income − Debts
Max Loan (servicing)
Present value of the available repayment at the stress rate.
r = 4% floor ÷ 12; n = tenure × 12
Price by Loan
Grossing the loan up by the 75% LTV limit.
The loan covers at most 75% of the price
Price by Savings
Grossing your funds up by the 25% downpayment.
Max flat price = lower of the two prices
Important Disclaimer
For educational and informational purposes only. This tool produces estimates of the HDB flat price you may be able to afford based on your income, CPF, and cash. It applies the 30% Mortgage Servicing Ratio, the 55% Total Debt Servicing Ratio for bank loans, the 75% Loan-to-Value limit, the 25% minimum downpayment, the 2.6% HDB concessionary loan rate, and the Monetary Authority of Singapore's medium-term interest rate floor of 4.0% for residential property. The maximum flat price is the lower of what your income can service through a loan and what your savings can cover as the downpayment.
No warranty of accuracy. While Money Snap sources these rules from HDB, the CPF Board, and the Monetary Authority of Singapore, this tool is provided "as is" without any express or implied warranty as to accuracy, completeness, or timeliness. The actual flat you can afford also depends on the Buyer's Stamp Duty, legal and option fees, grant eligibility, the flat's valuation, your age and the remaining lease, and each lender's own credit assessment and prevailing interest rates. Loan rates, servicing-ratio rules, Loan-to-Value limits, and income ceilings are reviewed and revised by HDB, CPF, and MAS and may be out of date here.
Not financial advice. Information provided is general in nature only and does not take into account your personal objectives, financial situation, or needs. Results do not constitute financial, mortgage, or property advice. Before making any decision, obtain an HDB Flat Eligibility (HFE) letter or an in-principle approval from a bank, and consider advice from an MAS-licensed financial adviser or mortgage broker.
Limitation of liability. To the maximum extent permitted by law, Money Snap accepts no liability for any loss, damage, cost, or expense arising from reliance on this tool or the information it produces. Users are responsible for verifying all figures with HDB, CPF, MAS, and their lender before relying on them. Use is subject to our Terms of Use.
Official data sources
HDB loan rate 2.6%, LTV 75%, downpayment 25%, MSR 30%, TDSR 55%, and the 4.0% stress-test floor are current HDB, CPF and MAS figures.