To protect homebuyers from over-borrowing, the Singapore government has set a loan-to-value limit for housing loans.
The LTV for bank loans is now 75 per cent, after the government announced a tightening of LTV limits on residential property loans by 5 per cent across the board, together with other cooling measures in July 2018. Having a lower LTV means that buyers will have to commit to a bigger downpayment, in cash and/or CPF, when buying a property.
55 per cent LTV limit for a loan tenure of more than 30 years, or if the loan extends past the age of 65. The minimum cash downpayment will be 10 per cent.Example B: Financing a 4-room HDB flat valued at $500,000 with a loan tenure of 25 yearsThis means you have to fork out a downpayment of $125,000 with cash and CPF funds. Out of this downpayment, $25,000 has to be paid in cash.For a $1.5 million condo and an LTV limit of 75 per cent, the maximum loan amount obtainable is $1,125,000.
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