Facts checked: 14 October 2026. This guide explains general rules, not your approved loan amount. Check your HDB eligibility assessment or bank’s written terms before committing.
Types of Mortgage Loans in Singapore
HDB concessionary loans are for eligible HDB flat buyers. Banks offer housing loans for HDB flats and private property, with fixed or floating rate packages. A home loan is secured against the property. MoneySense explains how home loans work.
Bank rates depend on the lender, package and application. This page does not present generic rate ranges as current bank quotes.
Key Concepts You Need to Know
MSR and TDSR are different tests
The Mortgage Servicing Ratio (MSR) limits housing-loan instalments to 30% of gross monthly income for HDB flats and applicable executive condominiums. The Total Debt Servicing Ratio (TDSR) generally limits total monthly debt repayments to 55% of gross monthly income for property loans from financial institutions.
An HDB concessionary loan is subject to MSR, not TDSR. Its amount still depends on HDB’s credit assessment and your financial standing, so existing debts can matter. A bank loan for an HDB flat generally needs to meet both. Existing personal loans and other debts count towards a bank’s TDSR assessment. Exemptions and assessment rules can apply; these percentages are not a loan approval. See MoneySense’s affordability guidance.
The HDB LTV limit is up to 75%
The 75% maximum applies to complete resale applications received from 20 August 2024 and BTO applications from the October 2024 exercise. Earlier application cohorts may be subject to previous limits; confirm the limit for your purchase with HDB. The loan remains subject to HDB’s eligibility and credit assessment. For a resale flat, the limit is based on the lower of its purchase price and valuation. See MND’s announcement and CPF Board’s HDB/bank comparison.
Downpayments and CPF usage
- HDB loan at 75% LTV: the remaining 25% can be met with eligible CPF OA savings, cash, or both.
- Bank loan at 75% LTV, with no outstanding housing loans: at least 5% cash, with the remaining 20% in eligible CPF OA savings or cash.
- Additional amounts: a purchase price above valuation, a smaller approved loan, stamp duty and other transaction costs may require more funds. Cash-over-valuation for a resale HDB flat cannot be paid using CPF or the housing loan.
HDB’s CPF-use requirement: before HDB grants a loan for the remaining amount, you must use available CPF OA savings for the purchase, though you may retain up to $20,000 in your OA. The 75% cap does not mean you can keep all your OA savings and borrow that full amount.
These percentages do not describe the timing of every payment. Check the payment schedule for your specific purchase. CPF usage also depends on the property, remaining lease and applicable limits. CPF Board explains the funding requirements.
Choosing Between HDB and Bank Loans
The HDB concessionary interest rate is pegged 0.1 percentage point above CPF OA, with quarterly review. That is different from a contractual fixed rate for the whole loan. Bank fixed-rate packages fix the rate for a specified period; floating rates depend on the package’s reference rate and terms.
HDB loans do not have an early-repayment penalty. Bank packages can have lock-in penalties and other charges. You may refinance an HDB loan with a bank, subject to approval, but cannot switch an existing bank housing loan back to HDB. See MoneySense’s explanation.
Bank LTV limits depend on outstanding housing loans
The relevant count is outstanding housing loans, not simply properties owned. MoneySense lists these residential bank-loan limits for individuals:
| Outstanding housing loans | LTV limits | Minimum cash downpayment |
|---|---|---|
| None | 75% or 55% | 5% at 75% LTV; 10% at 55% LTV |
| One | 45% or 25% | 25% |
| Two or more | 35% or 15% | 25% |
The lower LTV in each row applies if the tenure exceeds 30 years, or 25 years for HDB flats, or the loan extends beyond age 65. These are regulatory limits, not an entitlement to borrow. Source: MoneySense.
Refinancing: Compare the Full Cost
Refinancing means moving your home loan to another lender. Changing packages with your existing bank is called repricing. Before switching, request repayment schedules and compare interest, fees and remaining tenure—not just the headline rate.
Check legal and valuation fees, early-repayment penalties, subsidy clawbacks and the new lock-in period. A lower monthly instalment caused by extending the tenure does not necessarily mean lower total interest. There is no universal break-even period. MoneySense provides a refinancing checklist.
Before You Commit
- Obtain your HDB Flat Eligibility letter or bank assessment rather than assuming the maximum LTV will be available.
- Read the bank’s property loan fact sheet, including repayment schedules and possible rate changes.
- Confirm cash and CPF requirements, transaction costs and payment dates for your purchase.
- Budget for ongoing homeownership costs as well as repayments. Borrowing for other expenses adds to your commitments.
If you have difficulty meeting an existing housing loan’s payments, contact HDB or your bank promptly. The loan is secured against your home, which may be sold to recover the debt if you default. Source: MoneySense.
Official sources
- MND: revised HDB LTV limit and effective dates
- MoneySense: home affordability, MSR, TDSR and LTV
- MoneySense: home loans, interest and refinancing
- CPF Board: HDB and bank loan funding requirements
Rules, rates and product terms can change. Use the official guidance and your lender’s written assessment for your own purchase.
