How much downpayment do I need for a condo?
For a condo bought with a first bank loan, you need at least 25% of the price as downpayment (the bank lends up to 75% LTV). Of that 25%, at least 5% must be cash; the rest may come from CPF. On top of this, Buyer's Stamp Duty applies, starting at 1% and rising with the price.
The full rules
Downpayment for a condo (first bank loan)
| Item | Rule |
| Maximum bank loan (first loan) | 75% of price (LTV) |
| Minimum downpayment | 25% of price |
| Minimum cash portion | 5% of price |
| Remaining downpayment | May be paid with CPF |
For a second bank loan the maximum LTV falls to 45%, and for a third or more it falls to 35% (based on a 30-year tenure and age ≤65 at loan maturity). Lower LTV means a larger downpayment.
Buyer's Stamp Duty (residential)
BSD is charged on top of your downpayment, in tiers:
| Portion of price | Rate |
| First $180,000 | 1% |
| Next $180,000 (up to $360,000) | 2% |
| Next $640,000 (up to $1,000,000) | 3% |
| Next $500,000 (up to $1,500,000) | 4% |
| Next $1,500,000 (up to $3,000,000) | 5% |
| Amount above $3,000,000 | 6% |
BSD is rounded down to the nearest dollar.
Worked example
Example: $1,500,000 condo, first bank loan
Downpayment (25%)
- Total downpayment: 25% × $1,500,000 = $375,000
- Minimum cash (5%): 5% × $1,500,000 = $75,000
- Remaining $300,000 may be paid with CPF.
Maximum loan (75%): $1,125,000.
Buyer's Stamp Duty
- First $180,000 × 1% = $1,800
- Next $180,000 × 2% = $3,600
- Next $640,000 × 3% = $19,200
- Next $500,000 × 4% = $20,000
- Total BSD = $44,600
So upfront you would need $375,000 downpayment (at least $75,000 in cash) plus $44,600 BSD.
What this means for you
First-time condo buyer, no other property
You qualify for the first-loan 75% LTV, so you need 25% down with at least 5% in cash. CPF can cover the rest of the downpayment.
Buyer with one existing home loan
Your second bank loan is capped at 45% LTV, meaning your downpayment rises to 55% of the price. Plan for a much larger cash and CPF outlay.
Buyer with two or more existing home loans
A third or more loan is capped at 35% LTV, so you must fund 65% of the price as downpayment, on top of BSD.
Related questions
How much of the downpayment must be cash?
For a first bank loan at 75% LTV, at least 5% of the purchase price must be paid in cash. The remaining 20% of the 25% downpayment may be paid using CPF.
Does the downpayment change if I already have a home loan?
Yes. A second bank loan is capped at 45% LTV (55% down) and a third or more at 35% LTV (65% down), based on a 30-year tenure and age ≤65 at maturity.
Is Buyer's Stamp Duty part of the downpayment?
No. BSD is a separate cost on top of your downpayment. It starts at 1% and rises in tiers up to 6% for the portion of price above $3,000,000.
Can I use CPF for the whole downpayment on a condo?
No. With a bank loan, at least 5% of the price must be in cash. The rest of the 25% downpayment can come from CPF, subject to CPF usage rules.
When did the LTV limits take effect?
The loan-to-value limits used here are effective from 20 August 2024, when the HDB-granted loan LTV was cut from 80% to 75%, aligning with bank loans.
More answers: How much downpayment do I need for an HDB flat? · What salary do I need to buy a 1 million dollar condo? · What salary do I need to buy a 1.5 million dollar condo? · What salary do I need to buy a 2 million dollar condo?
Sources: HDB / MAS — loan-to-value limits · IRAS — Buyer's Stamp Duty · Last verified 2026-10-12