Can I Afford to Upgrade?

Two real questions, answered with the actual current rules: how much can I actually borrow, and — if you're upgrading from HDB — do I sell first or buy first, and will I have the cash when I need it?

1How Much Can I Borrow?

The standard bank-affordability question. Works for any buyer, not just upgraders.

Your age

Gross monthly income

Co-borrower income (if any)joint application

Other monthly debtcar loan, personal loan, credit card min, etc.

Desired loan tenure (years)we'll cap this at 35yr or your age-65 limit, whichever is lower

How many properties will you own once this loan completes?

Just this oneFirst property, or selling your old one first — 75% LTV (55% if the loan runs past your 65th birthday) This will be my 2nd propertyStill own another property when this loan starts — 45% LTV This will be my 3rd or more35% LTV

Your Maximum Affordability

Based on a max loan of at TDSR's 55% ceiling

Loan tenure used

LTV limit applied

Bank's stress-test instalmentat the fixed 4.0% MAS floor — this is what determines your max loan, not your real rate

Your realistic monthly paymentat the rate you enter in Step 3 below

TDSR used at max loan55% (the ceiling, by definition)

MSR (the 30% cap) doesn't apply here — it's only for HDB/EC loans. This is your private-property borrowing limit under TDSR.

Upgrading from HDB? Continue below

2Your Situation

Citizenship

Singapore Citizen Singapore PR

Strategy

Sell HDB first, then buy0% ABSD, 75% LTV — cleanest, but need temp housing Buy first, sell within 6 months (remission)Married SC couples only, joint purchase, ABSD refunded if HDB sells in time Buy first, keep HDB as rentalFull ABSD, non-refundable — only if the rental thesis justifies it

3Your HDB Flat

Expected sale pricewhat you expect to sell for

Outstanding HDB loanbalance still owed

CPF refund dueprincipal used + accrued interest

Agent commission on saleeditable — market-standard %, some platforms lower

4Target Private Property

Purchase priceor calculate Step 1 above and click "use this price"

Loan tenure (years)

Interest rate assumption %check your bank's current quote — fixed rates were ~1.8–2.2% in early 2026, use your own quote for accuracy

5Other Cash / CPF on Hand

Cash savings available now

CPF OA available nowseparate from your HDB's CPF refund

Cost of the New Purchase

Buyer's Stamp Duty (BSD)

Additional Buyer's Stamp Duty (ABSD)

LTV limit applied

Total downpayment required

— of which, in cash

Est. monthly mortgage instalment

TDSR — all monthly debt vs income

The Sequencing Gap

Net HDB sale proceedssale price − loan − CPF refund − agent fee

Funds needed at OTP exercise

Funds you'll actually have at that point

Want a second pair of eyes on your numbers?

Send me your actual HDB valuation and the shortlist you're considering — I'll walk through the sequencing with you and flag anything this calculator can't see (grant eligibility, MOP timing, your specific bank's rate).

One message, free →

Charles Yim · CEA Reg No. R070355J · ERA Realty Network Pte Ltd (L3002382K)

Figures used: ABSD — Singapore Citizens 0% / 20% / 30% (1st / 2nd / 3rd+ property), PRs 5% / 30% (IRAS, eff. 27 Apr 2023). BSD — tiered 1–6% (IRAS, eff. 15 Feb 2023). LTV — 75% (1st property, 55% if loan runs past age 65) / 45% (2nd) / 35% (3rd+), min cash downpayment 5% / 25% / 25% respectively (MAS cooling-measure parameters). TDSR ceiling 55%; MSR 30% applies to HDB/EC loans only, not modelled here since Step 1 targets private property. Max loan is computed at MAS's fixed 4.0% medium-term stress-test rate (eff. 30 Sep 2022) — this is what banks actually use to size your loan, regardless of your real quoted rate. Max tenure 35 years (private), further capped so age + tenure ≤ 65. ABSD remission — Singapore Citizen married couples, joint purchase, existing property sold within 6 months of the new purchase (or TOP). These are regulatory parameters that change without long notice — this tool is a planning aid, not financial advice; verify current rates at iras.gov.sg / mas.gov.sg before committing to a purchase. Last checked 21 Jul 2026.