Run your numbers
Executive Condominiums are financed with bank loans only; there is no HDB concessionary loan. Two caps apply at once: the Mortgage Servicing Ratio (MSR), specific to HDB flats and ECs, and the Total Debt Servicing Ratio (TDSR), which applies to every property loan in Singapore. The calculator applies both, takes the lower result, and checks it against the Loan-to-Value limit.
EC maximum loan estimate
Combined basic salary plus 70% of variable income, as banks assess it.
Car loans, personal loans, credit-card minimums. Counted under TDSR only.
Up to 30 years, and the loan must end by age 65 for a 75% loan-to-value.
MAS requires banks to assess affordability at 4% p.a. for residential loans.
Adds the 75% LTV check and the cash/CPF downpayment split.
MSR cap (30% of income)
S$4,200 / mo
TDSR cap (55% minus other debts)
S$7,700 / mo
Binding monthly instalment cap
S$4,200 / mo
MSR is the tighter limit.
Maximum loan by income
S$879,737
Estimate only. Banks also apply haircuts to variable income, age limits and their own credit policy. Get an In-Principle Approval before booking. Verify current MSR, TDSR and LTV rules with MAS or your banker.
The rules behind the maths
- MSR 30%: your monthly instalment for the EC loan may not exceed 30% of the borrowers’ combined gross monthly income. Variable income such as commission or bonuses is usually haircut by 30% first.
- TDSR 55%: the EC instalment plus every other monthly debt obligation (car loan, credit cards, personal loans, other mortgages) may not exceed 55% of gross monthly income.
- Stress-test rate: banks size the instalment at a medium-term interest rate floor of 4% p.a. for residential loans, even if the package you sign is lower.
- LTV 75%: for a first housing loan the bank finances at most 75% of the purchase price or valuation, whichever is lower. The remaining 25% is paid from cash and CPF Ordinary Account, with at least 5% in cash.
- Tenure and age: the 75% LTV holds only if the tenure is 30 years or less and the loan ends before the oldest borrower turns 65. Beyond either limit the LTV drops to 55%.
How to read the result
The tool returns three numbers. The instalment cap is the smaller of the MSR and TDSR limits per month. The maximum loan is the principal that instalment can service over your tenure at 4%. The implied purchase budget divides that loan by 75% to show the highest price the loan would fully cover; for a dearer unit, the shortfall comes from cash or CPF.
If the implied budget is below the indicative pricing on our pricing page, income rather than LTV is the constraint. Options include adding a co-borrower, clearing other debts to free TDSR headroom, or lengthening the tenure within the 30-year and age-65 limits.
Worked example: a S$14,000 household
- 1
Instalment cap under MSR
S$14,000 × 30% = S$4,200 per month. Under TDSR the ceiling would be S$14,000 × 55% = S$7,700, so with no other debts MSR binds.
- 2
Convert the instalment into a loan
At 4% p.a. over 30 years, the monthly rate is 0.04 ÷ 12 = 0.3333% and there are 360 payments. Each dollar of monthly instalment supports roughly S$209.46 of principal: (1 − 1.003333^−360) ÷ 0.003333 ≈ 209.46.
- 3
Maximum loan
S$4,200 × 209.46 ≈ S$879,700, or about S$880,000 after rounding.
- 4
Implied purchase budget
S$880,000 ÷ 75% ≈ S$1.17 million. On a hypothetical S$1.6 million 3-bedroom the bank still lends S$880,000, leaving about S$720,000 for cash and CPF.
| Tenure | Instalment cap | Approx. max loan |
|---|---|---|
| 20 years | S$4,200 | S$693,000 |
| 25 years | S$4,200 | S$796,000 |
| 30 years | S$4,200 | S$880,000 |
What the calculator does not cover
- Buyer’s Stamp Duty, legal fees and the 5% cash option fee, all of which sit outside the loan.
- CPF Housing Grants of up to S$30,000 for eligible first-timer households, which reduce the cash and CPF needed but do not raise the loan.
- Credit records, employment type and the bank’s valuation of the unit, all of which affect the final approval.