Loan-to-Value Limit (LTV)
What is LTV (Loan-to-Value Limit)?
The loan-to-value (LTV) limit is the maximum share of a property's price or valuation, whichever is lower, that you can borrow for a home in Singapore. For a first housing loan from a bank it is 75%, falling to 45% for a second loan and 35% for a third or more. HDB loans go up to 75%.
Key facts
- Bank loan, no existing housing loan
- 75% (55% for long tenures)
- Bank loan, one existing housing loan
- 45% (25% for long tenures)
- Bank loan, two or more existing housing loans
- 35% (15% for long tenures)
- HDB loan
- Up to 75%
- Long-tenure rule
- Lower limit applies if the tenure exceeds 30 years (25 for HDB flats) or runs past age 65
- Minimum cash downpayment
- 5% for a first bank loan at 75% LTV; 10% at 55%; 25% for a second or later loan
As of 5 Nov 2026. Source: MoneySense, MAS.
How LTV works
The LTV limit sets the largest loan a lender may give you, as a percentage of the property’s price or valuation, whichever is lower. The rest is your downpayment.
For bank loans, the limit depends on how many housing loans you already have and on the length of the loan. It falls by 20 percentage points if the tenure is longer than 30 years (25 years for HDB flats), or if the loan would run beyond your 65th birthday.
Bank loan LTV limits
| Existing housing loans | Maximum LTV | Lower limit (long tenure or past 65) | Minimum cash downpayment |
|---|---|---|---|
| None | 75% | 55% | 5% (10% at 55%) |
| One | 45% | 25% | 25% |
| Two or more | 35% | 15% | 25% |
For an HDB loan, you can borrow up to 75% of the price or valuation, whichever is lower. The downpayment for a new flat is paid in two parts: 10% when you sign the Agreement for Lease and 15% when you collect the keys.
Example
You buy a $1,200,000 condominium with your first housing loan, over 30 years, ending before you turn 65.
| Item | Amount |
|---|---|
| Maximum loan (75%) | $900,000 |
| Downpayment (25%) | $300,000 |
| Of which must be cash (5%) | $60,000 |
| Can be cash or CPF (20%) | $240,000 |
If this were your second housing loan, the maximum loan would fall to 45% ($540,000), and you would need at least $300,000 (25%) in cash.
Common mistakes
- Forgetting the valuation. If the bank’s valuation is below the price, the loan shrinks and the gap must be paid in cash.
- Picking the longest tenure by default. Going past 30 years (25 for HDB flats) or past age 65 cuts the LTV by 20 points.
- Looking only at LTV. The TDSR and, for HDB flats and new ECs, the MSR can limit your loan further.
Frequently asked questions
What is the maximum loan tenure in Singapore?
MAS sets a maximum of 35 years for private property loans and 30 years for HDB flats. Longer tenures, or loans that run past age 65, face lower LTV limits.
Can I use CPF for the downpayment?
Partly. For a first bank loan at 75% LTV, at least 5% of the price must be paid in cash; the rest of the 25% downpayment can come from cash or CPF Ordinary Account savings, subject to CPF rules.
Is LTV based on the price or the valuation?
On whichever is lower. If a bank values the property below the price you agreed, the loan is based on the lower valuation, and you pay the difference in cash.
Related terms
Sources
- Buying a property: how much can you afford? (MoneySense)
- Macroprudential policies in Singapore (MAS)
Every figure on this page was checked against the official government sources above on 5 Nov 2026. See our editorial policy.
This is general information, not financial, legal or tax advice.