Check if you can afford an HDB flat. Calculate your loan eligibility, CPF grant, monthly mortgage, and how long to save for the downpayment.
💰 Your Finances
Household gross income
Available for housing
For downpayment
For tracking downpayment timeline
🏠 HDB Details
Choose your flat type
Use 2024 median or update with actual offer
Affects grant eligibility
Repayment period (max 35 years)
📊 Your HDB Affordability
Max Loan (MSR 30%)
S$300,000
HDB loan eligible
CPF Grant (EHG)
S$0
If eligible
Downpayment Needed
S$76,000
10% cash + 10% CPF
Monthly Mortgage
S$1,100
At 2.6% HDB rate
Total Resources
S$80,000
CPF + Cash available
Months to Save
0
Until downpayment ready
Loan & Payment Breakdown
Flat PriceS$380,000
HDB Loan (80% max)S$304,000
Downpayment (20%)S$76,000
Monthly PaymentS$1,100
Loan Tenure25 years
Total Interest PaidS$26,400
Your MSR (monthly mortgage % of income)11.0%
✓ Affordability Status
You can afford this HDB flat. Your monthly mortgage is well within the 30% MSR limit.
Frequently Asked Questions
The Mortgage Servicing Ratio (MSR) rule states that your monthly mortgage cannot exceed 30% of your gross monthly household income. This protects you from borrowing more than you can afford to repay. For example, if your combined income is S$10,000, your maximum monthly mortgage is S$3,000.
The Enhanced Housing Grant (EHG) and Family Grant are government grants to help first-time HDB buyers with downpayments. EHG provides up to S$80,000 if your household income is S$9,000 or less. Family Grant provides an additional S$50,000 for resale purchases. These grants reduce the cash you need upfront.
Yes. You can use your CPF Ordinary Account (OA) to pay for your HDB downpayment and monthly mortgage. This is one of the main uses of CPF OA. The outstanding loan balance is then repaid from your OA until it is paid off, after which you start building CPF SA and MA again.
HDB loans have a fixed rate of 2.6% per annum (as of 2025), no processing fees, and can be up to 80% of flat price. Bank loans typically have variable rates around 3.5%, processing fees, and cap at 75% LTV. HDB loans are usually cheaper but offer less flexibility. Bank loans are used when HDB loan is insufficient.
For a new BTO flat, you typically have 2–3 years from collection to pay the downpayment. For resale, you need the downpayment within 4 weeks of signing the Option to Purchase. This calculator shows you how many months you need to save at your current savings rate.