Before you fall in love with a flat, it helps to know your ceiling. In Singapore, how much HDB you can afford is decided less by the price tag and more by two income limits, how much you can borrow, and the cash and CPF you can put down. Here is the whole picture in plain English.
Two limits decide your loan: MSR and TDSR
Two rules cap your monthly repayment:
- MSR (Mortgage Servicing Ratio) — 30%.Your monthly home-loan repayment can't exceed 30% of your gross monthly income. It applies to HDB flats and Executive Condominiums.
- TDSR (Total Debt Servicing Ratio) — 55%. Allyour monthly debt repayments (home loan, car, credit cards, personal loans) can't exceed 55% of gross income. It applies when you take a bank loan.
An HDB loan is checked against MSR only. A bank loan is checked against both MSR and TDSR — so existing debts can shrink your housing budget. You can model both with the TDSR calculator.
How much you can borrow (loan-to-value)
The Loan-to-Value (LTV) limit caps your loan to a share of the price. For a first housing loan in 2026, both the HDB concessionary loan and a bank loan are capped at 75% LTV — meaning you fund the other 25% upfront. Your actual loan also depends on your income (via MSR/TDSR), your age and the loan tenure.
The cash and CPF you need upfront
- HDB loan: the 25% downpayment can be paid entirely from your CPF Ordinary Account (or cash) — no minimum cash needed if your OA is sufficient.
- Bank loan: of the 25% downpayment, at least 5% must be cash; the remaining 20% can be CPF or cash.
Don't forget the Buyer's Stamp Duty on top — estimate it with the Buyer's Stamp Duty calculator. First-time buyers may also qualify for CPF Housing Grants, which effectively lower the cash/CPF you need.
Put it together
Your affordable price is roughly: your maximum loan (limited by MSR/TDSR and the 75% LTV) plus the cash and CPF you can put down. Rather than do this by hand, plug your income, savings and existing debts into the HDB affordability calculator, then size the monthly repayment with the mortgage calculator.