HDB Loan Eligibility 2026: Who Qualifies, Requirements & How Much You Can Borrow
The definitive Homejourney guide to HDB loan eligibility, covering who can get HDB loan, key requirements, and precise borrowing calculations for Singapore homebuyers.
Navigating HDB loan eligibility is crucial for first-time buyers and upgraders in Singapore. At Homejourney, we prioritize your safety and trust by verifying every detail to help you make confident decisions. This comprehensive pillar guide breaks down who can get HDB loan, the exact HDB loan requirements, HDB concessionary loan criteria, and how much you can borrow in 2026.
Whether you're applying for a BTO flat or resale HDB, understanding these rules ensures you avoid rejection and maximize your financing options. Use Homejourney's free eligibility calculator at https://www.homejourney.sg/bank-rates#calculator to check your HDB loan eligibility instantly via Singpass.
Table of Contents
- 1. HDB Loan Overview & Key Benefits
- 2. Who Can Get HDB Loan? Eligibility Criteria
- 3. Detailed HDB Loan Requirements Explained
- 4. How Much HDB Loan Can You Get? Calculations
- 5. MSR & TDSR Limits: Real Examples
- 6. How to Improve Your HDB Loan Eligibility
- 7. Step-by-Step HDB Loan Application Guide
- 8. HDB Loan vs Bank Loan: 2026 Comparison
- 9. 10 Common HDB Loan Eligibility Mistakes
- 10. HDB Loan Eligibility FAQ
- Next Steps with Homejourney
1. HDB Loan Overview & Key Benefits
The HDB Concessionary Loan is Singapore's most affordable housing finance option for eligible buyers of new BTO flats and resale HDB flats. Offered directly by the Housing & Development Board (HDB), it features a stable 2.6% interest rate (pegged at 0.1% above CPF Ordinary Account rate) unaffected by market fluctuations.
Key benefits include:
- Lower interest rate than most bank loans (fixed at 2.6% p.a. in 2026)
- Up to 75% loan-to-value (LTV) ratio
- Loan tenure up to 25 years or 65 years old (whichever is shorter)
- No need for bank In-Principle Approval (IPA) – HDB assesses directly
- Safety net with stable rates, ideal for first-time buyers
Homejourney recommends the HDB loan for lower- to middle-income households seeking stability. For higher earners, compare bank options via our bank rates page featuring DBS, OCBC, UOB, HSBC, and more.
HDB Loan vs Bank Loan at a Glance (2026)
| Feature | HDB Loan | Bank Loan |
|---|---|---|
| Interest Rate | 2.6% fixed | SORA + 0.7-1.2% (variable ~3.2%) |
| Max LTV | 75% | 75% |
| Max Tenure | 25 years | 30 years |
| Income Ceiling | $14,000/month | None |
Disclaimer: Rates current as of Feb 2026. Always verify with HDB. Homejourney provides tools for real-time checks but is not financial advice.
2. Who Can Get HDB Loan? Basic Eligibility
To qualify for an HDB loan, you must first meet HDB Flat Eligibility (HFE) criteria, then specific HDB concessionary loan criteria. At least one applicant must be a Singapore Citizen, with others as Citizens or PRs.
Core Who Can Apply Criteria
- Citizenship: At least one Singapore Citizen (SC). Spouse can be SC or Permanent Resident (PR). Non-citizen spouses limited to 2-room Flexi flats with valid passes.
- Age: Minimum 21 years (35 for singles). Max loan age: 65 years at end of tenure.
- Household Income: ≤$14,000/month for families ($7,000 singles, $21,000 extended families).
- Property Ownership: No private property ownership or sale in last 30 months. Must dispose within 6 months if owned.
- Prior HDB Loans: Max 2 HDB loans per household lifetime. No more than 2 new HDB/DBSS/EC purchases previously.
Singles aged 35+ qualify under Single Singapore Citizen Scheme for 2-room Flexi flats. Orphans from age 21. Homejourney's HFE simulator at https://www.homejourney.sg/bank-rates#calculator checks this instantly.
3. Detailed HDB Loan Requirements Explained
HDB loan requirements go beyond flat eligibility. HDB assesses credit, income stability, and lease remaining.
Income & Employment Rules
- Monthly Gross Income: Average last 12 months. Employed: Payslips + CPF. Self-employed: IRAS NOA + bank statements.
- Variable Income: Commissions/overtime averaged over 12 months; max 50% of total income counted if irregular.
- Stability: Minimum 3-6 months employment. Contract workers assessed case-by-case.
Credit & Financial Health
- Credit Bureau Singapore (CBS) check: No bankruptcies, overdue loans >3 months.
- Existing debts factored into TDSR/MSR.
- CPF usage mandatory: Use Ordinary Account savings first (retain up to $20,000 per buyer).
Flat-Specific Rules
- Remaining lease ≥20 years at end of loan tenure.
- New BTO: 75% of purchase price. Resale: 75% of lower of price/valuation.
Full documents checklist in our related guide: HDB Loan Documents Checklist 2026 | Homejourney Guide .
4. How Much HDB Loan Can You Get? Step-by-Step Calculation
Your maximum HDB loan amount is the lower of: 75% LTV, MSR limit, age/lease limit, and credit assessment.
- Step 1: Determine LTV: Flat price/valuation × 75%.
- Step 2: Apply MSR: Household income × 30% × 240 (for 20-year tenure).
- Step 3: Adjust for tenure: Shorter tenure reduces max loan.
- Step 4: HDB final approval based on full assessment.
HDB Loan Borrowing Capacity Table (2026)
| Household Income | Max Monthly Instalment (MSR 30%) | Max Loan (25-yr tenure, 2.6%) |
|---|---|---|
| $5,000 | $1,500 | ~$290,000 |
| $10,000 | $3,000 | ~$580,000 |
| $14,000 | $4,200 | ~$810,000 |
Example: $500,000 resale flat. 75% LTV = $375,000. If MSR allows $400,000, you get $375,000. Try Homejourney's calculator for your exact figure.
5. MSR & TDSR Limits: Impact on Borrowing Power
MSR (Monthly Stress Test): HDB-specific, caps housing commitments at 30% of gross income.
TDSR (Total Debt Servicing Ratio): MAS rule, total debts ≤55% of income (all borrowers).
Formula: Max instalment = Income × 30% (MSR). Instalment calculated at 3.5% stress rate for affordability.
Real-World MSR/TDSR Examples
- Couple, $8,000 income, no debts: MSR $2,400/month → ~$460,000 loan (25 years).
- Family, $12,000 income, $1,000 car loan: TDSR limits to $5,500 total debt → Housing $4,500 (after car) → ~$870,000 loan.
- Single, $6,000 income, credit card debt: If arrears, loan rejected.
Insider tip: Pay off small debts before applying – even $500/month credit card can cut $100,000+ from your loan. Use Homejourney's TDSR calculator to simulate.
6. How to Improve Your HDB Loan Eligibility: 8 Proven Steps
Don't get rejected – boost your HDB loan eligibility with these actionable tips from Homejourney experts.
- Reduce Debts: Clear credit cards, personal loans 3-6 months prior.
- Boost Income Proof: Include bonuses/commissions consistently over 12 months.
- Shorten Tenure: Accept 20-22 years to increase max loan if near age limit.
- Timing: Apply after 3 months stable job; avoid month-end bonuses skewing average.
- CPF Top-Up: Voluntary contributions lower loan needed. See How to Use CPF for HDB Down Payment: Homejourney Guide .
- Joint Applicants: Add working spouse/parents to raise household income.
- Credit Repair: Settle all overdue payments; check CBS report free annually.
- Grants First: Maximize CPF grants to reduce loan quantum. Details in Maximize HDB Grants & Financing: Homejourney Ultimate Guide .
Pro tip: Use Homejourney's multi-bank submission at https://www.homejourney.sg/bank-rates – one Singpass application gets offers from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, and more.
7. Step-by-Step: How to Apply for HDB Loan via HFE Letter
The HDB Flat Eligibility (HFE) letter bundles flat, grant, and HDB loan eligibility checks. Apply online via Singpass – no paperwork needed initially.
- Preliminary Check (Day 1): HDB portal → Myinfo via Singpass → Declare properties/income → Get provisional eligibility.
- Select Loan (Within 30 Days): Choose HDB loan or banks (DBS, OCBC, UOB etc.). HDB confirms loan amount.
- Submit HFE: Review → E-sign → Receive HFE letter (valid 6 months).
- Buy Flat: Use HFE for BTO ballot or resale option-to-purchase.
- Final Approval: Submit docs post-sale; loan disbursed at completion.
Homejourney integrates Singpass for instant pre-checks. Link your HFE to our property search at https://www.homejourney.sg/search for budget-matched flats.
8. HDB Loan vs Bank Loan: Which is Better in 2026?
If income >$14,000 or you sold private property recently, bank loans via DBS/OCBC/UOB offer flexibility. See full comparison: HDB Loan vs Bank Loan 2026: Which Financing Option Saves You More? .
Homejourney's bank rates page lets you compare live packages from 10+ banks and apply to multiple simultaneously – safer and faster.
9. 10 Common HDB Loan Eligibility Mistakes to Avoid
- Forgetting to declare overseas property (automatic rejection).
- Ignoring 30-month private property sale rule.
- Applying with unstable income proof (under 3 months).
- Not using CPF first (loan reduced).
- Missing MSR due to hidden debts.
- Applying near age 65 without short tenure.
- Overlooking flat lease (must cover loan).
- Not checking CBS score beforehand.
- Skipping HFE preliminary check.
- Ignoring grants that lower loan needed.
Avoid these with Homejourney's verified checklists and calculators – trusted by thousands for safe transactions.
10. HDB Loan Eligibility FAQ: Real Questions Answered
Q: Who can get HDB loan if single?
A: Singles 35+ with ≤$7,000 income for 2-room Flexi. Must be first-timer.
Q: What is HDB loan income ceiling 2026?
A: $14,000 families, $7,000 singles, $21,000 extended. Last revised 2019; no change in 2026.
Q: Can I get HDB loan after selling private property?
A: Yes, if sold >30 months ago and no ownership now.
Q: Does freelance income count for HDB loan eligibility?
A: Yes, via IRAS NOA + 12-month bank statements; averaged.
Q: How much downpayment for HDB flat with loan?
A: 25% (CPF/cash). First-timers 5-10% cash. See How to Use CPF for HDB Down Payment: Homejourney Guide .
Q: HDB loan for resale flat?
A: Yes, same criteria; 75% of lower price/valuation.
Q: Impact of SORA on HDB loans?
A: None – HDB fixed at 2.6%. Banks follow SORA. Track trends: HDB Loan Interest Rate Trends 2026: Homejourney Analysis .
Q: Can PR get HDB loan alone?
A: No, needs SC co-applicant.
Q: Max HDB loans lifetime?
A: 2 per household.
Q: HDB loan rejection appeal?
A: Submit updated docs to HDB; common for minor issues.
Next Steps: Start Your Safe Journey with Homejourney
Ready to check your HDB loan eligibility? Visit Homejourney's eligibility calculator for instant results via Singpass. Compare rates from DBS, OCBC, UOB, HSBC and apply to multiple banks safely in one go.
Search verified properties within your budget at https://www.homejourney.sg/search. Homejourney verifies every listing for your safety – because trust matters most in property.
Contact our mortgage brokers for personalized advice. Your secure homeownership journey starts here.
