Maximum Loan Quantum for Residential Properties in Singapore
In Singapore, banks are allowed to finance property purchase up to 75% of the property price or valuation, whichever is lower. This is also known as the Maximum Loan Quantum or Loan-to-Value (LTV) ratio. Minimum 5% cash down payment is required. The rest of the down payment can be paid by CPF &/or cash.
If your required loan does not exceed 55% LTV, you can opt for longer loan period (up to age 70/75 years) capped at 30 years (for HDB)/35 years for private property, provided you are able to pay at least 10% cash down payment.
However, if you already have an existing property loan, banks can only finance up to 45% LTV. This is further reduced to 35% if you have 2 or more existing property loans. Minimum cash down payment is 25%.
The Maximum Loan Quantum, Minimum Cash Down Payment and Loan Period for Individual and Corporate Borrowers are summarized in the table below.
|
|
Individual Borrower |
Corporate Borrower |
|||
|---|---|---|---|---|---|
|
With Zero |
With 1 |
With 2 or more |
|||
| PRIVATE PROPERTY - Up to 30 years tenor | |||||
|
Max. Loan Quantum Min. Cash Down Payment |
75% 5% |
45% 25% |
35% 25% |
15% 85% |
|
| PRIVATE PROPERTY - Up to 35 years tenor | |||||
|
Max. Loan Quantum Min. Cash Down Payment |
55% 10% |
25% 25% |
15% 25% |
15% 85% |
|
| HDB FLAT - Up to 25 years tenor | |||||
|
Max. Loan Quantum Min. Cash Down Payment |
75% 5% |
45% 25% |
35% 25% |
N.A. |
|
| HDB FLAT - Up to 30 years tenor | |||||
|
Max. Loan Quantum Min. Cash Down Payment |
55% 10% |
25% 25% |
15% 25% |
N.A. | |
With effect from 6 Jul 2018
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