The maximum home loan in Singapore is capped by Loan-to-Value (LTV) at 75% of the purchase price for a first private property with a bank loan, and by TDSR (55% of gross income, computed at 4% stress rate). The actual binding limit is whichever of LTV or TDSR is more restrictive in your case.
LTV cap by property and loan type
| Property scenario | Max LTV |
|---|---|
| HDB loan, first HDB flat | 80% |
| Bank loan, first property (any type) | 75% |
| Bank loan, second property | 45% |
| Bank loan, third+ property | 35% |
An LTV reduction applies if the borrower is over 65 at the end of the loan tenure: max LTV drops by 25 percentage points (75% → 50% for first property, 45% → 20% for second). Source: MAS LTV framework.
TDSR cap on maximum loan
TDSR caps the loan based on income and existing debt obligations. For a borrower with zero other debts:
| Gross monthly income | TDSR headroom (55%) | Max loan @ 4% / 25 yr | Max loan @ 4% / 30 yr |
|---|---|---|---|
| S$5,000 | S$2,750 | S$521,000 | S$576,000 |
| S$10,000 | S$5,500 | S$1,041,000 | S$1,152,000 |
| S$15,000 | S$8,250 | S$1,562,000 | S$1,728,000 |
| S$20,000 | S$11,000 | S$2,083,000 | S$2,304,000 |
Loan tenure cap is 30 years for private property with bank financing. Source: MAS Notice 804.
Which cap binds?
For a first-time SC buyer of a S$1.5M private condo with S$10,000/month income and zero other debts:
- LTV cap = 75% × S$1.5M = S$1,125,000 max loan
- TDSR cap (4% / 25 yr) = S$1,041,000 max loan
- Binding cap: TDSR — S$1,041,000
The borrower would need to extend the tenure to 30 years (raising TDSR cap to S$1,152,000) to actually take the full 75% LTV loan — or accept a smaller loan and contribute additional cash/CPF to the downpayment.
The age 65 LTV reduction
A buyer aged 50 applying for a 25-year mortgage finishes the loan at age 75. Because that exceeds 65, the LTV is reduced by 25 percentage points to 50% for a first property. Source: MAS LTV framework.
To preserve full 75% LTV, the same buyer would need a 15-year tenure (loan ends at 65) — which raises monthly instalments and may breach TDSR.
For deeper financing context see the Singapore mortgage framework.
Frequently asked questions
Does property type affect max loan?
For HDB flats with an HDB Concessionary Loan, LTV is 80%; with a bank loan it drops to 75%. Private and EC max LTV is 75% for first property with bank loan.
Can I borrow above 75% LTV with additional cash collateral?
No. MAS LTV caps are regulatory and cannot be exceeded regardless of borrower wealth.
How does refinancing affect LTV?
For owner-occupied refinancing without cash-out, MAS LTV rules are relaxed. For cash-out refinancing, full LTV rules apply.