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Singapore Mortgage Affordability

Free Singapore affordability calculator. Maximum home loan under the 55 percent TDSR and 30 percent MSR limits at the 4 percent stress rate.

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Written by PennyCompass Team

Maximum loan under TDSR and MSR.

Maximum loan

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Max monthly repayment allowed

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Your breakdown

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Worked example

Take a buyer earning S$12,000 a month gross with S$500 of other monthly debt repayments, buying a private home on a 25 year loan. The Total Debt Servicing Ratio caps all debt repayments at 55 percent of income, which is S$6,600. After subtracting the S$500 of existing debt, S$6,100 a month is left for the new mortgage. Because this is a private property and not an HDB flat, the 30 percent Mortgage Servicing Ratio does not apply, so the TDSR is the binding limit.

That S$6,100 monthly figure is then converted into a loan size using the bank stress rate of 4 percent a year over 300 months, not the lower rate you might actually be offered. Running the amortising formula backwards gives a maximum loan of about S$1,155,660. The down payment, stamp duty, and any shortfall against the property price must be funded separately from cash or CPF.

How it is calculated

The tool first finds your maximum allowed monthly repayment. TDSR room is 55 percent of gross monthly income minus all other monthly debt repayments such as car and personal loans. If the property is an HDB flat or Executive Condominium, a second cap of 30 percent of income (the MSR) also applies, and the lower of the two limits is used. That allowed repayment is then treated as the monthly instalment in the standard amortising loan formula, discounted at the regulated 4 percent medium-term stress rate divided by 12, over the tenure in months. The result is the largest loan whose stress-tested repayment fits inside the limit. Your actual offered rate may be lower, but the 4 percent floor is what determines how much the bank will lend.

Frequently asked questions

What are TDSR and MSR?
TDSR caps total monthly debt repayments (all loans) at 55% of gross monthly income. MSR caps just the mortgage at 30% of income and applies to HDB flats and Executive Condominiums. Banks stress-test repayments at a 4% medium-term rate even if your actual rate is lower.
Can CPF Ordinary Account savings count toward the down payment?
Yes. CPF Ordinary Account (OA) funds can be used to pay the down payment and stamp duty on both HDB and private residential properties, subject to the Valuation Limit and Withdrawal Limit rules. For private properties, CPF usage is capped at the lower of the purchase price or the market valuation. You must set aside the Full Retirement Sum (FRS) in your CPF before withdrawals above the Valuation Limit are permitted.
What is the Buyer Stamp Duty (BSD) rate in 2026?
IRAS applies BSD on a tiered basis for residential property. The first S$180,000 is taxed at 1%, the next S$180,000 at 2%, the next S$640,000 at 3%, the next S$500,000 at 4%, the next S$1,500,000 at 5%, and any amount above S$3,000,000 at 6%. Additional Buyer Stamp Duty (ABSD) applies on top of BSD depending on residency status and the number of properties owned: Singapore Citizens pay 20% ABSD from the second property, Permanent Residents pay 5% on the first and 30% on the second, and foreigners pay 60% on any purchase.
How does the 30-year maximum loan tenure affect affordability?
MAS caps HDB loan tenures at 25 years and bank loan tenures at 30 years for private residential properties. A shorter tenure increases the monthly repayment for the same loan amount, which reduces the maximum loan the TDSR or MSR will permit. For example, cutting tenure from 30 years to 20 years at the 4% stress rate raises the monthly payment per S$100,000 borrowed from about S$477 to S$606, directly shrinking how much you can borrow on the same income.

Related calculators

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LTV Limit

Max loan vs value.

Sources

  1. IRAS — Buyer's Stamp Duty and Additional Buyer's Stamp Duty, Inland Revenue Authority of Singapore
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