EC affordability calculator

This calculator estimates what an executive condominium purchase requires in loan, cash and CPF under the rules that apply to EC buyers: a 75 percent loan-to-value limit for a first housing loan, a 30 percent Mortgage Servicing Ratio, a 55 percent Total Debt Servicing Ratio, and a 4 percent stress-test interest rate. It is an estimate for planning conversations and is not financial advice. Banks assess income, age and existing commitments individually.

Last updated 9 Oct 2026

Purchase price (S$)Combined gross monthly income (S$)Other monthly debt repayments (S$)

Loan tenure (years, max 30)Quoted interest rate (% p.a.)

CPF OA available for the downpayment (S$) One of you has an outstanding housing loan

Estimate

Maximum loan: S$879,737 (Limited by MSR)
Loan needed at 75% LTV: S$1,350,000
Monthly instalment at quoted rate: S$3,615
Monthly instalment at 4% stress rate: S$4,200
Downpayment (25%): S$450,000
Minimum cash (5%): S$90,000
CPF OA usable: S$150,000
Cash needed for downpayment: S$300,000
Buyer's Stamp Duty: S$59,600
Total cash outlay (downpayment + BSD): S$359,600
Maximum price your income supports: S$1,172,983

Shortfall versus loan needed: S$470,263

Estimate only, using MSR 30%, TDSR 55%, LTV 75% (55% with an outstanding loan) and a 4% stress rate. Not financial advice. Banks assess age, income type and commitments individually. Grants and the resale levy are not included.

Normal versus Deferred Payment Scheme

For a new EC bought from the developer, the Normal Payment Scheme calls for 5 percent cash at booking, 15 percent on exercising the Sale and Purchase Agreement, and the remaining 80 percent progressively during construction. Buyers start servicing the bank loan as each stage is disbursed.

Under the Deferred Payment Scheme, offered by most EC developers including at Rivelle's launch, the buyer pays 20 percent upfront and nothing further until TOP, when the remaining 80 percent is due. The developer charges a premium of about 2 to 3 percent for this. It suits HDB upgraders who must keep paying their existing flat until they sell it after moving in, since the EC loan is only taken at TOP. The trade-off is the premium and the risk that interest rates or income rules change by TOP.

Grants and the resale levy

First-timer families buying an EC may qualify for the CPF Family Grant and Half-Housing Grant, which reduce the cash and CPF needed. Second-timers who previously bought a subsidised flat pay a resale levy. Both are explained in singaporeec.sg's guide to EC grants and the resale levy, which this site does not duplicate.

FAQ

Does MSR apply to ECs?

Yes. Unlike private condos, EC purchases from the developer are subject to the 30 percent Mortgage Servicing Ratio as well as the 55 percent TDSR.

Can I use CPF for the downpayment on an EC?

The first 5 percent must be cash. The next 20 percent (at 75 percent LTV) can be paid with CPF Ordinary Account savings, cash or a mix. Stamp duty can also be paid with CPF, usually reimbursed after a cash payment.