Loan-to-Value (LTV) Limits in Singapore: What Sets Yours (2026)

How we made this. Updated for 2026 with AI-assisted research. Figures are linked to their sources — check them before you act.

Your loan-to-value (LTV) limit is the largest loan you can get as a percentage of the property’s value. It decides how much cash and CPF you need upfront. In 2026, a bank can lend up to 75% for your first housing loan, 45% for your second and 35% for your third. Each limit falls by 20 points if your tenure is long or the loan runs past age 65. An HDB loan is capped at 75%.

At a glance

Bank loans: 75% / 45% / 35% for borrowers with zero, one, or two or more outstanding housing loans. These limits have not changed since July 2018.
Each limit falls by 20 points (to 55% / 25% / 15%) if the tenure is over 30 years (25 years for HDB flats) or the loan runs past age 65.
HDB loans: 75%, down from 90% in 2021 after three cuts, the latest on 20 August 2024.
The value is the lower of the price and the bank’s valuation. If you pay above valuation, you pay the difference in cash.
LTV is only one limit. TDSR and MSR can cut your loan further, and CPF has separate rules.

The LTV table for 2026

These are the MAS limits for housing loans from banks and other financial institutions. They apply to options to purchase granted from 6 July 2018. MAS last updated the page on 27 March 2024.

Your outstanding housing loans	Standard LTV	Reduced LTV*	Minimum cash downpayment
None	75%	55%	5% (10% if reduced LTV)
One	45%	25%	25%
Two or more	35%	15%	25%
Borrower is not an individual (e.g. a company)	15%	—	—

*The reduced LTV applies if the loan tenure is more than 30 years (more than 25 years for an HDB flat), or if the loan runs past the borrower’s age of 65.

The rest of the downpayment, after the minimum cash, can come from cash or your CPF Ordinary Account, within CPF’s own limits.

Factor 1: How many housing loans you already have

This is the factor with the biggest effect. Your first housing loan can be up to 75% of the value. If you still have a housing loan outstanding, your next loan drops to 45%, and the minimum cash payment rises from 5% to 25%.

A loan counts if you are a borrower on it, including a joint loan with your spouse or a parent. A small balance left on an old flat still counts as an outstanding loan. If you plan to sell your current home, ask your bank how it will count the existing loan at the time you apply.

A second home also brings Additional Buyer’s Stamp Duty of 20% for a Singapore Citizen (30% for a third). So a second loan has a double cost: less borrowing and more tax. Some owners have tried to avoid this through “decoupling” or 99-to-1 arrangements. IRAS can disregard any arrangement made to reduce ABSD and add a 50% surcharge. Get proper advice before you try one.

Factor 2: Loan tenure

The maximum tenure is 35 years for private property and 30 years for a bank loan on an HDB flat. But the full LTV is only available up to a lower tenure:

Private property: 75% for tenures up to 30 years; 55% for 30 to 35 years.
HDB flat with a bank loan: 75% for tenures up to 25 years; 55% for 25 to 30 years.
HDB loan: up to 25 years, or 65 minus your average age, or the remaining lease minus 20 years, whichever is shortest.

A longer tenure lowers your monthly instalment and helps you pass the TDSR test. But beyond these points, you need more cash upfront. Our article on longer loan tenors covers that trade-off.

Factor 3: Your age (and the income-weighted average age)

If the loan runs past age 65, the LTV drops by 20 points. For one borrower, the calculation is simple: a 50-year-old can borrow at 75% only with a tenure of up to 15 years.

For joint borrowers, MAS uses the income-weighted average age (IWAA):

IWAA = (Age₁ × Income₁ + Age₂ × Income₂) ÷ (Income₁ + Income₂)

Say Mr Tan is 50 and earns S$5,000 a month, and Mrs Tan is 45 and earns S$6,000 a month:

IWAA = (50 × 5,000 + 45 × 6,000) ÷ 11,000 = 520,000 ÷ 11,000 ≈ 47.3 years.
To keep the full 75% LTV, the loan must end by 65. That means a tenure of about 17 years.
If they want 25 years to keep the instalments down, the loan runs to about age 72, and their LTV falls to 55%.

The higher earner’s age has more weight. So adding a younger, higher-earning co-borrower can lower the IWAA and allow a longer tenure at full LTV. But that person becomes liable for the loan, and any housing loan they already have counts towards Factor 1.

Factor 4: Property type and lender

Private property, bank loan: the table above applies.
HDB flat, bank loan: the same 75% / 45% / 35% limits apply, but with the 25-year tenure threshold.
HDB flat, HDB loan: up to 75% of the price (or for resale flats, the lower of price and value). This limit used to be higher: 90% until December 2021, then 85%, then 80% from September 2022, and 75% from 20 August 2024. You must also meet HDB’s conditions, including the S$16,000 family income ceiling and no private property in the past 30 months.
Company or other non-individual borrower: 15%.

The hidden fifth factor: valuation

LTV is applied to the lower of the purchase price and the bank’s valuation. If you pay more than the valuation, the difference (the “cash over valuation”) comes from your own money.

Say you agree to pay S$1.5 million for a condo, and the bank values it at S$1.45 million. For a first loan:

Expected loan: 75% × S$1.5m = S$1,125,000
Actual loan: 75% × S$1.45m = S$1,087,500
Your downpayment rises from S$375,000 to S$412,500, so you need S$37,500 more.

CPF has a similar rule. Its Valuation Limit is also the lower of price and valuation, so the amount above valuation is usually paid in cash. Ask for an indicative valuation before you sign an option to purchase.

What it means for your cash: a worked example

Say a Singapore Citizen buys a S$1.5 million condo at valuation:

Scenario	Maximum loan	Downpayment	Minimum in cash
First loan, 25-year tenure ending before 65	S$1,125,000 (75%)	S$375,000	S$75,000 (5%)
First loan, 35-year tenure or past 65	S$825,000 (55%)	S$675,000	S$150,000 (10%)
Second loan, normal tenure	S$675,000 (45%)	S$825,000	S$375,000 (25%)

On top of this, you pay Buyer’s Stamp Duty of S$44,600 on S$1.5 million. In the second-property case, you also pay ABSD of S$300,000 (20%). The LTV limit is a maximum, not a promise. Your actual loan can be lower if you fail the TDSR or MSR test. Check both in the Propwise mortgage calculator before you look at showflats.

Bottom line

Four things set your LTV: how many housing loans you already have, your tenure, your age and the type of property and lender. A fifth thing, valuation, quietly decides what the percentage is applied to. Work out your LTV and cash needs before you make an offer, not after, and keep a buffer for a valuation shortfall. For the rest of the financing decision, read how to choose your home loan.

Sources

Loan tenure and loan-to-value limits — Monetary Authority of Singapore, updated 27 Mar 2024
HDB loans guide — gov.sg (MyNiceHome), 23 Aug 2026
Additional Buyer’s Stamp Duty (ABSD) — IRAS, rates effective 27 Apr 2023, checked Oct 2026
Buyer’s Stamp Duty (BSD) — IRAS, rates effective 15 Feb 2023, checked Oct 2026
Policy on 99-to-1 arrangements for stamp duty payment — Ministry of Finance, 21 Apr 2023
How much CPF savings you can use for your home purchase — CPF Board, checked Oct 2026