What Can You Afford to Buy in Singapore?
This calculator works backwards from income to price. You set a repayment ceiling — a share of gross monthly income — and it subtracts your existing obligations to find the maximum monthly instalment available, converts that payment stream into the loan principal it supports at your rate and term, then adds your down payment to arrive at the maximum property price. The loan-to-value falls out of the arithmetic and is reported against Singapore's bank-loan rules as context, never imposed as a cap.
Singapore's two statutory ceilings give the natural starting points. The Mortgage Servicing Ratio caps housing loans for HDB flats and executive condominiums at 30% of gross monthly income. The Total Debt Servicing Ratio caps property loans from financial institutions at 55% of gross monthly income counting every debt obligation you hold — the car loan, the card minimums, the renovation loan, all of it. The default ceiling here is 30% because that is the stricter, safer anchor; raise it toward 55% only with your eyes open, and remember both ratios are assessed on gross income, not take-home.
A worked example at the default inputs
At the example inputs — S$8,000 gross monthly income, S$500 existing obligations, a 30% ceiling, S$200,000 down and the illustrative 3.00% rate over 30 years — the affordable monthly payment is S$1,900, which supports a loan of roughly S$450,700 and a maximum price near S$650,700 before buying costs. The resulting loan-to-value is about 69%, inside every limit. Push the rate to 4% and the affordable loan falls by roughly S$53,000; stretch the term to 35 years and it rises about S$43,000 with materially more interest. The sensitivity is the lesson: affordability is a rate-and-term story, not just an income story.
Down payment, CPF and buying costs
The down payment can be cash, CPF Ordinary Account savings, or a mix — CPF usage is subject to CPF Board rules and the property's remaining lease, and the calculator deliberately makes no distinction because the loan mathematics do not either. Buying costs sit on top of the down payment: Buyer's Stamp Duty is tiered by price, Additional Buyer's Stamp Duty may apply depending on your profile and property count, and the schedules are published by IRAS — rates change with policy, so this page asks for your estimate rather than freezing a table that would silently go stale.
What this is not
It is not an HDB eligibility check, not a grant calculator, and not a pre-approval. HDB purchases have income ceilings for eligibility to concessionary loans, grant frameworks with their own criteria, and ethnic/PR quotas on flat ownership; private financing adds its own credit assessment on top of TDSR. Lenders also document income differently from how you estimate it here. Treat the output as the honest outer boundary of what your income could carry — then verify the specifics with the Singapore Mortgage Calculator on the actual property, and with your bank or HDB.
Frequently Asked Questions
What repayment ceiling should I enter?
For an HDB flat or executive condominium, the MSR of 30% of gross monthly income is the statutory anchor, and it is the default here. Bank-financed private property allows up to the TDSR of 55% across all debt obligations. A ceiling between the two is a personal choice about how much of your income you are willing to commit — the lower it is, the more resilient you are to rate rises.
Does the calculator apply the TDSR properly?
It applies the ceiling you set to the income you enter, minus existing obligations — structurally the same as TDSR's arithmetic without hard-coding the 55%. Enter all existing obligations honestly, including card minimums, because lenders will count them.
Is CPF included?
As part of your down payment, yes — CPF Ordinary Account savings can fund the down payment and instalments subject to CPF rules and remaining-lease limits. The calculator treats the down payment as one number; split it however the rules allow.
Why does the maximum price change so much with the rate?
Because the affordable loan is the present value of a fixed payment stream — higher rates discount it harder. At the default inputs, moving from 3% to 4% cuts the affordable loan by roughly S$53,000. That is also why this page never assumes a market rate: you enter the one you are actually quoted.
Does this work for HDB flats and private property?
The arithmetic is the same; the context differs. HDB flats and ECs are MSR-screened at 30%, concessionary HDB loans carry a 75% LTV and 25-year tenure, and HDB eligibility has its own income ceilings. A first housing loan from a financial institution is generally subject to a 75% maximum LTV, with tighter limits applying where the loan tenure exceeds 30 years for private property, 25 years for HDB flats, or where the loan extends beyond the relevant borrower age threshold. Set the ceiling and term to match your purchase path.
Is my income information sent anywhere?
No. Everything runs locally in your browser. Nothing you type is transmitted, stored or logged.
Related Singapore Calculators
- Singapore Mortgage Calculator — price the instalment on a specific property
- Singapore Loan Affordability Calculator — the unsecured version
- Singapore Car Loan Calculator — vehicle instalments and OMV limits
- Singapore Savings Calculator — build the down payment
Disclaimer: Finance Atlas is not a bank, licensed moneylender, finance company, card issuer or financial adviser in Singapore. This calculator provides educational estimates only and does not constitute financial advice, a credit offer or a recommendation of any product. Confirm exact figures, rates, fees and eligibility criteria with your lender, issuer or bank.