How Much Can You Borrow In Q2 2026? LTV, Cash And Instalments At Five Prices
Published 29 Sept 2026
The loan rules decide how much of a purchase price a bank can lend. They also decide how much of your share must be cash rather than CPF. Those two numbers shape what a home costs you on day one.
In this article, we look at the LTV caps and minimum cash by loan count. We also work through five prices. For each one, we show the maximum loan, the cash needed, the stamp duty and the monthly instalment.
The figures come from this site's position engine. It applies the MAS rules in force from 20 August 2024, verified on 18 September 2026.
What Are The LTV Caps And Minimum Cash?
The cap depends on how many housing loans you already carry. The minimum cash share rises with each one.
The table below sets out the tiers.
A first housing loan is capped at 75% of the price, with at least 5% in cash. A second falls to 45% with 25% cash. A third or later is capped at 35%. Note that each tier has a reduced row. The reduced cap applies when the tenure runs past 30 years. It also applies when the borrower is past 65 at the end of the loan. For a first loan, that reduced cap is 55%.
| Loan | LTV (%) | Reduced LTV (%) | Min cash (%) | Reduced min cash (%) |
|---|---|---|---|---|
| 1st housing loan | 75.0 | 55.0 | 5.0 | 10.0 |
| 2nd housing loan | 45.0 | 25.0 | 25.0 | 25.0 |
| 3rd or later housing loan | 35.0 | 15.0 | 25.0 | 25.0 |
| HDB loan | 75.0 | 55.0 | 0.0 | — |
A First Housing Loan At Five Prices
This table assumes a bank loan over 30 years at 3%. The stress rate is 4%.
At S$800,000, the maximum loan is S$600,000. Minimum cash is S$40,000. Another S$160,000 can come from CPF or cash. Stamp duty is S$18,600. The instalment is S$2,530 a month at 3%.
At S$3,000,000, the maximum loan is S$2,250,000. Minimum cash is S$150,000 and stamp duty is S$119,600. The instalment at 3% is S$9,486. At the stress rate it is S$10,742.
| Price | LTV (%) | Maximum loan | Minimum cash | CPF or cash | Stamp duty | Instalment at rate | Instalment at stress rate | Income the test needs |
|---|---|---|---|---|---|---|---|---|
| S$800,000 | 75.0 | S$600,000 | S$40,000 | S$160,000 | S$18,600 | S$2,530 | S$2,864 | S$5,208 |
| S$1,200,000 | 75.0 | S$900,000 | S$60,000 | S$240,000 | S$32,600 | S$3,794 | S$4,297 | S$7,812 |
| S$1,600,000 | 75.0 | S$1,200,000 | S$80,000 | S$320,000 | S$49,600 | S$5,059 | S$5,729 | S$10,416 |
| S$2,000,000 | 75.0 | S$1,500,000 | S$100,000 | S$400,000 | S$69,600 | S$6,324 | S$7,161 | S$13,020 |
| S$3,000,000 | 75.0 | S$2,250,000 | S$150,000 | S$600,000 | S$119,600 | S$9,486 | S$10,742 | S$19,531 |
What Income Does The Servicing Test Need?
The test uses the stress rate, not the rate you pay. Monthly debt at 4% for a bank loan may not exceed 55% of gross income. For a flat, the mortgage alone may not exceed 30% under MSR. The HDB loan stress rate is 3%.
The last column of the first-loan table shows the result. At S$800,000, the test needs about S$5,208 a month. At S$1,600,000 it needs about S$10,416. At S$3,000,000 it needs about S$19,531.
These figures assume no other debt. Any car loan or personal loan counts within the same 55% limit.
How A Second Loan Changes The Numbers
The cap drops and the cash share jumps. ABSD also enters the stamp duty line.
The table below uses the same five prices and the same 30-year tenure.
At S$800,000, the maximum loan is S$360,000. Minimum cash is S$200,000. Stamp duty is S$178,600, including ABSD. The instalment is S$1,518 a month. At S$2,000,000, the loan caps at S$900,000 and stamp duty is S$469,600.
| Price | LTV (%) | Maximum loan | Minimum cash | CPF or cash | Stamp duty | Instalment at rate | Instalment at stress rate | Income the test needs |
|---|---|---|---|---|---|---|---|---|
| S$800,000 | 45.0 | S$360,000 | S$200,000 | S$240,000 | S$178,600 | S$1,518 | S$1,719 | S$3,125 |
| S$1,200,000 | 45.0 | S$540,000 | S$300,000 | S$360,000 | S$272,600 | S$2,277 | S$2,578 | S$4,687 |
| S$1,600,000 | 45.0 | S$720,000 | S$400,000 | S$480,000 | S$369,600 | S$3,036 | S$3,437 | S$6,250 |
| S$2,000,000 | 45.0 | S$900,000 | S$500,000 | S$600,000 | S$469,600 | S$3,794 | S$4,297 | S$7,812 |
| S$3,000,000 | 45.0 | S$1,350,000 | S$750,000 | S$900,000 | S$719,600 | S$5,692 | S$6,445 | S$11,718 |
Summary
Under the rules from 20 August 2024, a first housing loan is capped at 75%. A second is capped at 45% with 25% cash. A third or later is capped at 35%. At S$1,200,000, a first loan tops out at S$900,000, with an instalment of S$3,794 a month at 3%.
These are rule-based figures, not quotes from any lender. They assume a 30-year tenure, a 3% rate and no other debt. Your own rate, tenure, CPF balance and existing loans will change the result. Nothing here is a valuation of a home.
Method: the loan-to-value, cash and servicing rules as recorded in this site's rules file (LTV version 2024-08-20, servicing version 2022-09-30, verified 2026-09-18). They are applied by the position engine to a citizen buyer aged 35 over 30 years at the file's default rate. 'income the test needs' is the stress-rate instalment divided by the 30% MSR share for a flat, or the 55% TDSR share otherwise. The buyer has no other debt. The rules must be checked against MAS, HDB and IRAS before anyone relies on them. Private figures are from URA Data Service caveats, HDB figures from data.gov.sg resale records, both loaded weekly by this site's ingest. Medians are of the non-excluded transactions in the period named. Sales flagged by the hygiene rules (related-party transfers, bulk deals, outliers) are left out. Every figure is indicative and drawn from recorded transactions, not a formal valuation.