Home Loans in Singapore
Home Loans in Singapore
Home Loans in Singapore
| HDB Loan | Bank Loan | |
| Loan Amount | up to 90% purchase price, HDB concessionary loans are a provision for Singaporeans. Currently, the interest rate for an HDB loan is 2.6%. | up to 75% purchase price |
| Downpayment | at least 10% of the purchase price | at least 25% of the purchase price |
| Cash/CPF savings | All 10% can be in Cash or CPF savings | at least must be 5% in cash, the rest of 20% in cash/ CPF |
Home loans are subject to changing interest rates. The interest rate "stress test" for TDSR is now at 3.5% for residential property and 4.5% for commercial property. Total Debt Service Ratio must not exceed 60% of your monthly household income. Mortgage Service Ratio (for HDB and Executive Condos) must not exceed 30% of your monthly household income
| 1st housing loan | 2nd housing loan | 3rd housing loan | |
| individual borrowers | individual borrowers | individual borrowers | |
| Loan to value limit | Revised Rules on or after 6 July 2018. 75% or 55% if the loan tenure is more than 30 years or extends past 65 years * 25 years, where the property purchased is an HDB flat. * 75% for a borrower with no outstanding housing loan for the purchase of another residential property | Revised Rules on or after 6 July 2018. 45%; or 25% if the loan tenure is more than 30 years* or extends past age 65 * 45% for a borrower with an outstanding housing loan for the purchase of another residential property | Revised rules on or after 6 July 2018. 35%; or 15% if the loan tenure is more than 30 years* or extends past age 65 * 25 years, where the property purchased is an HDB flat. |
| Minimum Cash Down Payment | 5%; or 10% if the loan tenure is more than 30 years* or extends past age 65 | 25% | 25% |
| Non-Individual Borrowers | Non-Individual Borrowers | Non-Individual Borrowers | |
| Loan to value limit | Revised Rule 15% | Revised Rule 15% | Revised Rule |