Can I use CPF for a second property?
Yes, you can use CPF for a second property, but only after setting aside the Basic Retirement Sum in your CPF Ordinary and Special Accounts. The regulatory data provided here does not spell out the Basic Retirement Sum figure or the detailed CPF usage limits for a second property, so confirm those with CPF directly before committing.
The full rules
What the provided data covers
The official data supplied here concerns loan-to-value (LTV) limits, not the full CPF usage rules for a second property. The relevant loan figures are below.
| Loan type | Maximum LTV | Minimum cash |
| HDB-granted loan | 75% | — |
| First bank loan | 75% | 5% |
| Second bank loan | 45% | (not stated in data) |
| Third or more bank loans | 35% | (not stated in data) |
Effective date: 20 August 2024 (HDB loan LTV cut from 80% to 75%, aligning with bank loans).
> Note on CPF specifics: The CPF Basic Retirement Sum requirement, the CPF withdrawal limit for a second property, and how CPF interacts with the loan quantum are not contained in the data provided. We cannot state those figures here. Please verify with CPF before relying on any number.
Worked example
Worked example — second property loan quantum
Suppose you are buying a second private property priced at S$1,000,000 and financing it with a second bank loan.
| Item | Amount |
| Property price | S$1,000,000 |
| Maximum second bank loan (45% LTV) | S$450,000 |
| Balance to fund from cash and/or CPF | S$550,000 |
The 45% LTV applies because this is your second bank loan (assuming a 30-year tenure with age ≤65 at maturity). The remaining S$550,000 must come from your own funds — a mix of cash and CPF, subject to CPF's own rules.
*How much of that S$550,000 CPF will allow is governed by CPF rules not included in this dataset. Confirm with CPF directly.*
What this means for you
First-time upgrader keeping the first home
If you hold on to your first property with an outstanding loan, your new loan is treated as a second bank loan at 45% LTV. Plan for a larger downpayment from cash and CPF.
Selling the first property first
If you fully settle and dispose of your first property before buying, you may qualify for the 75% first-loan LTV with 5% minimum cash, easing the funding gap.
Investor taking a third loan
A third or later bank loan is capped at 35% LTV, so you must fund 65% from cash and CPF. The higher cash and CPF commitment makes this the most demanding scenario.
Related questions
What is the LTV limit on a second bank loan?
A second bank loan is capped at 45% loan-to-value, based on a 30-year tenure with age not exceeding 65 at maturity. The remaining 55% must come from cash and/or CPF.
Does the 5% minimum cash rule apply to a second loan?
The data lists a 5% minimum cash requirement for the first bank loan. It does not state the minimum cash for a second or third loan, so confirm this with your bank or MAS.
How much CPF can I actually use for a second property?
The exact CPF usage limit for a second property, including the Basic Retirement Sum set-aside, is not covered in the data provided here. Please check directly with CPF before committing.
What LTV applies to a third property loan?
A third or later bank loan is capped at 35% loan-to-value, meaning you must fund 65% from cash and CPF, again assuming a 30-year tenure with age ≤65 at maturity.
When did the HDB loan LTV change?
On 20 August 2024, the HDB-granted loan LTV was cut from 80% to 75%, aligning it with the bank loan limit for a first property.
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Sources: HDB / MAS — loan-to-value limits · Last verified 2026-09-05