LTV Ratio Singapore: Limits, Calculations & Down Payments Explained | Homejourney

The Loan-to-Value (LTV) ratio is the percentage of a property's purchase price or value that you can borrow from a bank or HDB. In Singapore, the current maximum LTV limit is 75% for both HDB concessionary loans and bank loans as of August 2024, requiring a minimum 25% downpayment.[2][3]

This cluster article breaks down LTV calculations, limits set by MAS, and why it impacts your down payment requirements. It supports our pillar guide on 新加坡房贷如何运作完整指南：Homejourney权威手册2026 ">Singapore Home Loans: Complete Guide, offering tactical advice for first-time buyers and investors using Homejourney's trusted tools.

What is Loan-to-Value (LTV) Ratio in Singapore?

The LTV ratio determines the property loan percentage you can finance, protecting buyers from over-leveraging. Regulated by the Monetary Authority of Singapore (MAS), it caps borrowing at 75% of the lower of purchase price or valuation.[1][4][5]

For example, on a S$500,000 HDB resale flat valued at S$480,000, LTV applies to S$480,000. You can borrow up to S$360,000 (75%), paying S$120,000 downpayment in cash or CPF Ordinary Account (OA) savings. Any cash-over-valuation (COV) like S$20,000 must be in cash.[2]

Homejourney verifies these details instantly via our eligibility calculator at https://www.homejourney.sg/bank-rates#calculator, ensuring safe decisions with Singpass integration for accurate CPF data.

Current LTV Limits in Singapore (2026)

MAS updated rules on 20 August 2024: HDB loans dropped from 80% to 75% LTV, aligning with bank loans.[2][3][8] This cools the market while maintaining affordability.

Housing Loans	LTV Limit	Min Cash Downpayment
1st (No existing loans)	75% or 55%*	5% (75%); 10% (55%)
2nd	45% or 25%*	25%
3rd & onwards	35% or 15%*	25%

*55%/25%/15% applies if loan tenure >30 years (private) or >25 years (HDB), or age + tenure >65 years.[1][3][5]

For HDB loans on resale flats, downpayment is staggered: 5% at acceptance, 20% at key collection (cash min 5%). Bank loans require 5% cash minimum for 75% LTV.[1][2]

Factors Affecting Your LTV Ratio Singapore

Several elements lower your LTV limits MAS:

Existing loans: First loan: 75%; second: 45%; third+: 35%.[3]
Age & tenure: Max 30 years (HDB), 35 years (private). Beyond age 65 or tenure caps? Drops to 55%.[5]
Property type: Shell companies: 15-40% LTV.[6]
Valuation: LTV based on lower of price/valuation; COV in cash.[2]

These interact with MSR (30% for HDB) and TDSR (55% total debt). Use Homejourney's tools at https://www.homejourney.sg/bank-rates to compare DBS, OCBC, UOB, HSBC rates while factoring LTV.

How to Calculate LTV Ratio & Down Payment Requirements

Formula: LTV = (Loan Amount / Property Value or Price) x 100. Max loan = LTV limit x lower value.

Determine property value/price (e.g., S$800,000 condo).
Check eligibility: First-time buyer, no loans = 75% LTV → max loan S$600,000.
Downpayment: 25% = S$200,000 (5% cash min S$40,000; rest CPF OA).
Adjust for tenure/age: If 55 years old, 35-year tenure → 55% LTV = S$440,000 loan.

Real example: Punggol BTO flat S$450,000. 75% HDB LTV = S$337,500 loan; S$112,500 down (S$22,500 cash). Homejourney's calculator auto-applies MAS rules for precise down payment requirements.

Pro tip: Time purchases post-sale (15-month wait for HDB resale after private sale).[1] Search budget-matched properties on https://www.homejourney.sg/search.

Why LTV Ratio Matters for Singapore Buyers & Investors

High LTV means lower upfront cash but higher monthly payments under TDSR/MSR. It affects affordability: 75% LTV on S$1M property = S$250K down vs 55% = S$450K.

For investors, multiple properties hit 35-45% LTV, increasing cash needs. Refinancers: LTV applies to new loans; check via Homejourney for multi-bank offers from Standard Chartered, Maybank, CIMB.

Homejourney prioritizes safety—our one-click multi-bank applications via Singpass verify income/CPF instantly, building trust through transparency.

LTV vs Other Rules: MSR, TDSR & CPF Usage

LTV sets loan size; MSR/TDSR caps payments at 30%/55% of income. CPF OA covers downpayment post-ABSD, but min cash always applies.

Example: S$10K monthly income, MSR 30% = S$3K housing payment max. Pair with 75% LTV for optimal borrowing. Track SORA impacts on Home Loan Tenure: Bank Rate Comparison Guide | Homejourney ">Home Loan Tenure Guide.

Disclaimer: Rules per MAS/HDB as of 2026; consult professionals. Homejourney connects you to mortgage brokers for personalized advice.

Frequently Asked Questions: LTV Ratio Singapore

What is the current LTV limit for first-time HDB buyers?
HDB and bank loans both cap at 75% LTV, so 25% downpayment (5% cash min).[2][3]

Does LTV apply to refinancing?
Yes, but based on current valuation and outstanding loans. Use Homejourney's refinancing tools for DBS/OCBC comparisons.

Can I use CPF for the full downpayment?
No, minimum cash required: 5-25% depending on LTV tier. CPF for balance after.[1]

How does age affect LTV?
If age + tenure >65 or exceeds 30/35 years, LTV drops to 55%/45% etc.[5]

Where to check my LTV eligibility?
Instantly on Homejourney at https://www.homejourney.sg/bank-rates#calculator with Singpass.

Mastering LTV ratio Singapore empowers confident buying. Start with Homejourney's bank rates at https://www.homejourney.sg/bank-rates—compare rates, calculate eligibility, apply to multiple banks safely. For full details, read our pillar 新加坡房贷如何运作完整指南：Homejourney权威手册2026 ">Singapore Home Loan Guide.