Loan Shortfall Calculator
See how much of the purchase price your bank loan will not cover, what causes the gap, and whether your cash and CPF Ordinary Account (OA) savings can fill it.
This is an estimate, not an offer. Your bank sets your actual loan after its own credit assessment and property valuation. Figures cover the purchase price only and exclude stamp duties, legal fees and other costs.
Bank loans only. HDB concessionary loans follow different rules and are not modelled here.
The Purchase
With an outstanding housing loan, only private property is shown. The loan-to-value limit is lower, so a larger downpayment is needed.
Only owners who are also borrowers count towards the loan. Their incomes set the income limit on the loan.
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Loan Shortfall
Results for your 1st home loan
Short on cash or CPF?
Chat with us on WhatsApp about:
- Ways to close the gap without stretching your budget
- Getting an In-Principle Approval (IPA) from the banks
- Checking your eligibility for HDB flats, ECs and housing grants
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Next steps
Work out the other side of the same decision:
How is this calculated?
- The value your bank lends against
MAS Notice 632 bases the loan on the lower of the purchase price and the valuation. For a resale HDB flat, the valuation is the one confirmed by HDB or by a bank valuer, whichever is lower. If you leave the valuation blank, we assume it equals the price.
Any amount you pay above the valuation is cash over valuation. It comes out of your cash only, because CPF savings cannot be used for the part of the price above the lower of price and valuation.
- The loan-to-value limit
The bank lends up to the LTV limit times that value: 75% for a 1st loan (55% with extended tenure), 45% (25%) with one outstanding housing loan, and 35% (15%) with two or more. A minimum cash payment also applies: 5% of the value at 75% LTV, 10% at 55%, and 25% at the lower limits.
- The income limit
Your income limits the loan too. Private property uses TDSR (55% of income less monthly debts). New EC and resale HDB use the lower of MSR (30% of income) and TDSR. The loan is what that monthly budget can repay over the tenure at the 4% MAS stress rate, with variable and rental income counted at 70%. The tenure follows your income-weighted average age. See the Home Loan Calculator for the full tenure rules.
- The loan shortfall
Your bank loan is the lower of the LTV loan and the income-based loan. The loan shortfall is the purchase price minus that loan. It is made up of the standard downpayment at the LTV limit, any cash over valuation, and any extra needed because your income supports less than the LTV loan.
- Whether your funds cover it
CPF OA savings can cover the shortfall except for the minimum cash payment and any cash over valuation. Everything else you must fund with cash, so the calculator uses as much of your CPF OA as the rules allow and compares the rest with the cash you have.
For indicative planning only. CPF usage limits, accrued interest and each bank's own assessment may change the figures. Stamp duties, legal fees and agent fees are not included.