Maximum proportion of property price you can borrow. First housing loan LTV is 75% (private/HDB bank loan), or 80% for HDB concessionary loan. Drops sharply for second or third loans.
Loan-to-Value is the maximum percentage of a property's price (or valuation, whichever is lower) that you can borrow. The remainder is your downpayment.
LTV limits exist to keep household debt manageable and to ensure buyers have meaningful skin in the game. Lower LTV = more equity in the home from day one.
First housing loan: 75% for bank loan; 80% for HDB concessionary loan.
Second housing loan (you still hold the first): 45% if remaining tenure ≤ 30 years and you'll finish before age 65; otherwise 25%.
Third or subsequent loan: 35% LTV; or 15% if the long-tenure / age conditions don't fit.
Loan tenure above 30 years (private) or 25 years (HDB) caps LTV at 55% even on a first loan.
Buying a S$1.5 million condo with a first bank loan at 75% LTV: maximum loan S$1,125,000, downpayment S$375,000.
Of the downpayment, at least 5% must be in cash (S$75,000). The remaining 20% (S$300,000) can be CPF Ordinary Account or cash.
If you already own a property and are buying this as a second home, LTV drops to 45%: maximum loan S$675,000, downpayment S$825,000 — a S$450,000 swing.
Sell the first property first. Banks check your housing-loan count at the point of application — sell, then your next loan resets to first-loan LTV.
Keep the loan tenure under 30 years to stay in the 75% LTV band.
Refinance, don't re-borrow. Refinancing the same loan amount doesn't reset LTV; cashing out (re-borrowing more) triggers tighter LTV rules.
75% for a bank loan, 80% for an HDB concessionary loan. The remainder (downpayment) is 25% or 20% respectively, with at least 5% in cash for bank loans (HDB loans allow fully-CPF downpayment).
45% if you still hold the first home and the new loan tenure is ≤ 30 years and ends before age 65. Otherwise 25%. Third or subsequent housing loans drop to 35% or 15% LTV under similar conditions.
Sell the first property before applying for the new loan. Banks check the housing-loan count at the point of application — if you don't have any outstanding housing loans, the new one is your 'first' for LTV purposes.
Yes. If loan tenure exceeds 30 years (private) or 25 years (HDB), or extends past age 65, LTV is capped at 55% even on a first loan. Most borrowers stay within those tenure limits to preserve the higher LTV.