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Singapore

Reverse-engineer your budget

Income Required Calculator

Instead of asking how much you can borrow, start from the property price: find the monthly income you'd need to qualify, at the 4% MAS stress rate, for an HDB flat, EC or private property.

Stress rate
4%
LTV assumed
75%
MSR (HDB/new EC)
30%
TDSR (private)
55%
The property you want

Results update as you type.

The property
$
Property type
You
yrs
$/mth
Loan-to-value tier

Income you need each month

$9,237.14

Limited by LTV · assessed on MSR · 25-year tenure · 75% LTV

How this is worked out
Loan amount$525,000.00
Instalment at 4% stress rate$2,771.14
MSR limit applied30%
Required monthly income$9,237.14
What you'll need in cash
Total down payment$175,000.00
Minimum cash required$35,000.00
Remaining (cash or CPF)$140,000.00
Stamp duties (BSD + ABSD)$15,600.00
Total cash outlay at purchase$50,600.00

This assumes a Singapore Citizen buying a first property, assessed at the 4% p.a. MAS stress rate. A joint application with a co-borrower spreads this income requirement across both incomes — try the max loan calculator for a joint-income view.

How income requirements are calculated

Working backwards from a target property price: the loan amount is 75% of the price (the standard LTV cap), the monthly instalment on that loan is calculated at the 4% MAS stress rate over your eligible tenure, and the required income is that instalment divided by the applicable ratio — 30% for HDB and new ECs (MSR), or 55% for private property and ECs after MOP (TDSR).

Worked example

For a $700,000 HDB flat at 75% LTV, the loan is $525,000. Over a 25-year tenure at the 4% stress rate, that works out to a monthly instalment of roughly $2,770. Dividing by the 30% MSR limit gives a required monthly income of about $9,235. The same $700,000 as a private condo, assessed only under the 55% TDSR limit, needs roughly $5,036 a month — much less, because TDSR allows a higher share of income to go towards housing.

Income needed by price and property type

Assuming 75% LTV, a 25-year tenure, the 4% stress rate, and no other monthly debts:

Property priceHDB / new EC (MSR 30%)Private (TDSR 55%)
$500,000$6,598/mo$3,255/mo
$800,000$10,557/mo$5,208/mo
$1,200,000$15,835/mo$7,812/mo
$1,500,000$19,794/mo$9,765/mo
$2,000,000$26,392/mo$13,020/mo

Private-property figures use a 30-year tenure, the maximum term generally available for that segment.

What changes the income you need

A longer tenure lowers the monthly instalment and therefore the income required — but only up to your age-based tenure limit. Existing monthly debts reduce the room left for a new mortgage under TDSR (though not under MSR), pushing the required income up. A lower LTV tier (55% instead of 75%) shrinks the loan and the income needed, at the cost of a larger down payment.

Common mistakes

  • Comparing HDB and private income requirements without noting they sit under different ratios (MSR vs TDSR).
  • Forgetting the 4% stress-test rate is higher than most actual mortgage rates, so this required income is deliberately conservative.
  • Ignoring existing debts, which raise the required income under TDSR even though they don't affect MSR.
  • Assuming a single income when a joint application could combine two incomes to meet the requirement more easily.

Once you know the income you need, check the actual maximum loan a given income supports with the max loan calculator, or see whether MSR or TDSR is your binding constraint with the MSR calculator and TDSR calculator.

Good to know

Frequently asked questions

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