Singapore Home Affordability Calculator 2025 — TDSR, MSR & Stamp Duty
Find out how much home you can afford in Singapore. Enter your income, debts, and preferences to get the maximum home price under MAS TDSR (55%) and MSR (30% for HDB/EC), including BSD and ABSD stamp duty costs.
How Singapore Home Affordability Is Calculated
- Maximum monthly payment: Income × min(TDSR, MSR if applicable) − existing debts. At 4% stress test, this caps the mortgage payment.
- Maximum loan: Invert the PMT formula at the 4% stress rate over the chosen tenure to get the maximum loan amount.
- Maximum price: Maximum loan ÷ (1 − down payment %). Then BSD + ABSD is calculated on that price to show total upfront costs.
Singapore Home Buying Affordability — What the Numbers Really Mean
Buying a home in Singapore involves multiple affordability constraints working simultaneously: the MAS TDSR/MSR limits cap your mortgage payment relative to income; the LTV limits cap your loan relative to property value; and stamp duty (BSD + ABSD) can add significantly to upfront cash requirements, especially for second properties and foreign buyers.
The Two-Step Affordability Test
Banks apply both TDSR and MSR to determine what they can lend. TDSR (55%) covers all debts — if you have a S$500/month car loan, that reduces your available mortgage headroom. MSR (30%) for HDB/EC is additional — for an S$8,000/month earner, MSR limits the mortgage to S$2,400/month regardless of other debts. The binding constraint is whichever is more restrictive.
Stamp Duty as a Significant Cost
Many buyers underestimate stamp duty. For a Singapore citizen's second property at S$1.5M, BSD = S$44,600 plus ABSD (20%) = S$300,000 — total S$344,600 on top of the purchase price. This must be paid in cash within 14 days of signing. Plan this cash separately from your down payment. See the Stamp Duty Calculator for a detailed BSD band breakdown.
Sources: MAS Notice 632 (TDSR), IRAS Stamp Duty. Reviewed May 2025.
Frequently Asked Questions
Your maximum Singapore home price is determined by MAS TDSR and MSR rules. At a 4% stress test rate, your monthly debt obligations (mortgage + existing debts) cannot exceed 55% of gross income. For HDB and EC, the mortgage alone cannot exceed 30%. This gives a maximum mortgage, which combined with your down payment (typically 25% for a first property) determines the maximum purchase price.
ABSD significantly increases the upfront cash requirement for second and subsequent properties. A foreigner buying their first Singapore property faces 60% ABSD — on a S$1M property, that is S$600,000 in ABSD alone. Even Singapore citizens buying a second property pay 20% ABSD. This calculator shows the combined BSD + ABSD due at a given purchase price.
For a first property with no outstanding home loans, the maximum LTV is 75% — meaning a 25% down payment (minimum 5% cash; the rest can be CPF OA). For a second property, LTV drops to 45% and for a third, to 35%. This calculator lets you select the LTV based on your purchase count.
Banks and MAS use the higher of the actual loan rate or a 4% floor rate when computing TDSR and MSR for residential property. This stress test ensures you can still service the loan if rates rise. This calculator applies the 4% floor automatically — so your affordability is based on 4% regardless of the current market rate.
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