How much downpayment do I need for an HDB flat?
For your first home loan, you need at least a 25% downpayment on an HDB flat, since both HDB and bank loans cover up to 75% of the price. With an HDB loan, the full 25% can be paid using CPF. With a bank loan, at least 5% must be in cash, and the rest can come from CPF.
The full rules
Downpayment for an HDB flat
Your downpayment is simply the part of the price your loan does not cover. Since the loan covers up to 75% of the value, you fund the remaining 25%.
| Loan type | Max loan (LTV) | Minimum downpayment | How you can pay it |
| HDB loan | 75% | 25% | Fully from CPF (cash optional) |
| Bank loan (first housing loan) | 75% | 25% | At least 5% cash; remaining 20% from CPF or cash |
If you already have other housing loans, a bank loan is capped lower:
| Situation | Max bank loan (LTV) |
| Second housing loan | 45% |
| Third or more | 35% |
These lower limits assume a 30-year tenure with the loan maturing by age 65. These rules took effect on 20 August 2024, when the HDB loan limit was aligned with bank loans at 75%.
> Separately, your monthly repayment is capped by the Mortgage Servicing Ratio: housing loan repayments cannot exceed 30% of your gross monthly income. This applies to HDB flats and Executive Condominiums and is often the limit that decides how much you can borrow.
Worked example
Worked example
Say you are buying an HDB flat priced at $500,000, as a first-time borrower.
| Item | HDB loan | Bank loan (first) |
| Maximum loan (75%) | $375,000 | $375,000 |
| Downpayment (25%) | $125,000 | $125,000 |
| Minimum cash required | $0 (CPF can cover all) | $25,000 (5%) |
| Remaining downpayment | $125,000 from CPF | $100,000 from CPF or cash |
So on a $500,000 flat you set aside $125,000 as downpayment. With an HDB loan you can use CPF for the whole amount; with a bank loan at least $25,000 must be cash.
What this means for you
Which applies to you
First-time buyer with limited cash
An HDB loan may suit you, as the full 25% downpayment can come from your CPF Ordinary Account, so you may not need cash on hand for it.
Buyer taking a bank loan
Plan for at least 5% of the price in cash upfront. The rest of the 25% can be paid from CPF or cash.
Buyer with an existing housing loan
A new bank loan is capped at 45% for a second loan, or 35% for a third or more, raising your downpayment considerably. Confirm your position with HDB and your bank before committing.
Related questions
What is the minimum downpayment for a first HDB flat?
25% of the price or value, since both HDB and bank loans cover up to 75%. With a bank loan, at least 5% must be cash; with an HDB loan, CPF can cover the full 25%.
Can I pay the whole downpayment with CPF?
With an HDB loan, yes — the full 25% can come from your CPF Ordinary Account. With a bank loan, at least 5% must be in cash, and the rest can be CPF.
How much do I need if I already have another housing loan?
A second bank loan is capped at 45% of the value, and a third or more at 35%, assuming a 30-year tenure. That means a much larger downpayment. Check with HDB and your bank.
Does my income affect how much I can borrow?
Yes. Under the Mortgage Servicing Ratio, housing loan repayments cannot exceed 30% of your gross monthly income. This often limits your loan more than the downpayment rule does.
When did the 75% HDB loan limit start?
The HDB loan limit was aligned with bank loans at 75% on 20 August 2024, meaning a minimum 25% downpayment for a first loan.
More answers: Can I buy an EC while owning an HDB flat? · Who can buy an Executive Condominium? · 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?
Sources: HDB / MAS — loan-to-value limits · MAS — Mortgage Servicing Ratio · Last verified 2026-10-19