If you are buying a $1million condo/private property: 

1. Downpayment Cash 5%: S$50k 

2. Downpayment Cash/CPF-OA 20%: S$200k

3. Buyer Stamp Duty: S$24,600

4. Bank Loan: S$750k 

5. Miscellaneous Fees (Legal and Valuation Fee): est $3500

1. Upfront Payment – Downpayment

In Singapore, the Loan-to-Value (LTV) limit is 75% for first-time buyers with no outstanding home loans, meaning you must pay a 25% downpayment: at least 5% in cash, with the remaining 20% from CPF Ordinary Account (OA) or cash

In practical terms:

• For a S$1,000,000 condo, the minimum cash downpayment is S$50,000, while the rest S$200,000 can come from CPF-OA or Cash combination.

2. Bank Loan in Singapore (2025)

• Age & Loan Tenure Cap: Max loan tenure ends at age 65, which means a 30-year tenor for someone who takes a 75% LTV mortgage at 35 years old

• TDSR Limit: Total Debt Servicing Ratio (TDSR) must not exceed 55% of your gross monthly income, which includes all loan obligations (mortgage, car loan, personal loans, etc.)

• Stress Test: Banks assess your mortgage using a stress test rate, typically the higher of 4% or the prevailing interest rate for completed properties, and slightly lower at 3.75% for under-construction units (BUC/New Launch) 

3. Income Required for $750k loan: $6510 per month

Example:

• Buyer is 35 years old

• Loan Tenor: 30 years (capped at 65 years old)

• TDSR cap: 55%

• Stress-test interest: 4%

Under these assumptions, if the buyer has zero other monthly debts, their required gross monthly income would be around S$6,510/month to support a S$750,000 loan. This keeps total debt repayment obligations within the 55% TDSR ceiling.

4. Stamp Duty and Additional Costs

Next comes Buyer’s Stamp Duty (BSD) and possibly Additional Buyer’s Stamp Duty (ABSD). These fees must be paid in cash at the outset; CPF OA can reimburse only if the balance is sufficient later 

• BSD is based on property price using tiered rates: up to 6% on amounts above S$3M

• S$1M condo, BSD is approximately S$24,600 for a first-time Singapore Citizen buyer

• ABSD applies if you’re a Permanent Resident (5% first property) or foreigner (60%), or a citizen buying a second home (20%)

So even for a first-time Singapore citizen buying at S$1M, cash needed includes both S$50,000 (downpayment) and S$24,600 (BSD), totalling ~S$74,600.

5. What Are Common Pitfalls to Avoid?

• CPF OA Shortfalls: Even if you have CPF, you still need that 5% in cash, and stamp duties must be paid in cash up front. CPF refunds only after you file for reimbursement.

• Existing Loans mean stricter LTV (up to 45–35%) and more cash needed.

• Extra Fees: Remember legal fees (S$3K–5K), valuation, and conveyancing costs.

• ABSD Triggers: Second homebuyers, PRs, and foreigners face steep ABSD,adding S$50K+ to required cash.

• Cashflow issues when sales proceeds come after purchase completion

6. So Truly, How Much Money Do You Need?

Singapore Citizen, first property, no existing loans

• For S$800K condo: ~S$58K cash + S$160K CPF-OA

• For S$1M condo: ~S$75K cash + S$200K CPF-OA

• For S$1.5M condo: ~S$110–115K cash + S$300k CPF-OA

7. Checklist before buying

Understanding these cash dynamics helps you avoid surprises, like having an OTP signed but no way to pay BSD within 14 days, or failing TDSR due to miscalculated CPF use.

What you should do next:

• Check your CPF OA balance and ensure you meet the minimum cash requirement.

• Estimate total up-front costs, including legal fees and valuation charges.

• Consider joint purchase (partner’s income/CPF) to ease burden.

• Factor in your timeline: when do you expect salary growth, and when might housing prices rise further?

8. Consult a Fairloan Mortgage Advisor

This guide outlines typical cash needs and rules, but your profile, citizenship status, existing home loans, CPF savings, and purchase price can significantly impact your requirements.

We can help you:

• Calculate the exact split: Cash vs CPF.

• Incorporate ABSD based on citizenship and property count.

• Assess TDSR, loan tenure, and repayment capacity.

• Explore fixed vs floating rate home loans, choosing the proper structure given your financial readiness.

9. Final Takeaway

• To buy a condo in 2025, plan for at least 5% cash downpayment and full BSD/ABSD in cash upfront.

• Typically, expect to have 8–12% of condo price in liquid cash for Singapore citizens buying a first condo; more if you’re a PR or second-time buyer.

• Don’t underestimate the time to build CPF or the importance of pricing momentum. Delaying may cost more in the long run.

• Crunch the numbers now and speak with a Fairloan advisor to tailor your timing and strategy.