Maximum private property price under the TDSR rule.
Maximum property price
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Maximum bank loan (75% LTV)
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Minimum cash needed (5%)
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CPF OA for down payment (up to 20%)
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Your breakdown
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How the TDSR determines your maximum private property price
The MAS TDSR framework limits all monthly debt repayments to 55 percent of gross income. The calculation starts with your gross monthly income multiplied by 55 percent. From that ceiling, all existing monthly obligations including car loans, personal loans, and credit card minimum payments are subtracted. The remainder is the maximum monthly mortgage payment the bank can accept. Using the stress-test rate of 4 percent per year over your chosen loan tenor, that monthly payment is converted to a maximum loan amount using the amortisation formula. Dividing the loan by 0.75 (since the bank will lend 75 percent of the price) gives the maximum property price.
This calculator applies the 4 percent stress rate, not the current market rate, because that is what the bank is required by MAS to use when assessing your application. The market rate in 2025 is typically 3 to 4 percent for a SORA-linked bank loan, so the stress test and actual rate are often close, but the distinction matters if rates fall significantly below 4 percent.
Down payment structure for a first private property
With a 75 percent LTV bank loan, the down payment is 25 percent of the purchase price. MAS requires at least 5 percent of the purchase price to be funded by cash. The remaining 20 percent can come from CPF OA savings, subject to your OA balance. Stamp duty (Buyer Stamp Duty, and ABSD if applicable) must be paid separately within 14 days of the option to purchase. For a S$1,500,000 private property, BSD alone is about S$40,600 and is typically paid in cash or from CPF OA in addition to the 25 percent down payment.
Other costs to factor in beyond the down payment
The TDSR and down payment analysis covers the loan and immediate equity requirement, but several other costs are material. Legal fees for a private property purchase are typically S$2,500 to S$4,000. Property agent commission, if applicable, is usually borne by the seller but in some cases shared. Renovation and furnishing for a new property can range from S$30,000 to over S$150,000 depending on scope. Ongoing costs include property tax (0 to 32 percent of Annual Value for non-owner-occupied), fire insurance, and the MCST maintenance fees for condominiums which range from S$200 to S$800 per month. A prudent buyer should have at least S$50,000 in liquid reserves beyond the down payment and stamp duty before committing to a private property purchase.