How Much Condo Can I Afford? Step-by-Step Mortgage Maths for Hougang Central

Before prices for LinkTown Residences (Hougang Central Residences) are out, the most useful thing a buyer can do is work out their own ceiling. How much condo you can afford comes down to two limits: how much a bank will lend on your income, and how much cash and CPF you can put in upfront. You can afford whichever is lower. This guide walks through the steps, then applies them to each indicative unit type.

Step 1: Know your loan-to-value limit

The loan-to-value (LTV) limit caps the loan as a share of the price (or the bank’s valuation, if lower). For individuals, MAS sets:

Housing loans you already have	LTV (tenure ≤ 30 years and ends by age 65)	LTV (otherwise)	Minimum cash
None	75%	55%	5% (or 10% at 55% LTV)
One	45%	25%	25%
Two or more	35%	15%	25%

Source: MAS, Loan tenure and LTV limits. The maximum tenure for a private property loan is 35 years. HDB upgraders who still have an HDB loan when they buy fall into the second row, which is why many sell first or time the sale carefully.

Step 2: Check the loan your income supports (TDSR)

Total monthly debt repayments, including the new loan, cannot exceed 55% of gross monthly income. Banks calculate the new instalment at a 4% stress rate, not your package rate. Variable income such as bonuses and commissions, and rental income, is counted at 70% or less. Our TDSR guide goes into detail.

If you want a mortgage calculator for Singapore without an app, this is the formula banks use:

Monthly instalment = L × r ÷ (1 − (1 + r)⁻ⁿ)

L is the loan, r is the annual rate ÷ 12 (0.04 ÷ 12 for the stress test), and n is the tenure in months (360 for 30 years). Any spreadsheet can do it with the PMT function. Then divide the instalment, plus your other debts, by 0.55 to get the income needed.

Step 3: Count your cash and CPF for the down payment

With a 75% loan you pay 25% yourself. At least 5% of the price must be cash. The remaining 20% can be cash or CPF Ordinary Account savings. Under the normal progressive payment scheme, 5% is paid at the option to purchase, 15% at the sale and purchase agreement about eight weeks later, and the last 5% of your share at the foundation stage. The payment scheme page lists every stage.

CPF use for private property is capped by the Valuation Limit and a Withdrawal Limit of 120% of it, unless you set aside the Basic Retirement Sum. The remaining lease must also cover the youngest buyer to age 95 for full use. Keep this high level and check your own limits with CPF.

Step 4: Add stamp duty

Buyer’s Stamp Duty (BSD) is due within 14 days of signing, at these residential rates: 1% on the first S$180,000, 2% on the next S$180,000, 3% on the next S$640,000, 4% on the next S$500,000, 5% on the next S$1.5m and 6% above that (IRAS). You can pay it with CPF, usually by paying cash first and applying for reimbursement. Additional Buyer’s Stamp Duty (ABSD) applies on top if you are not a Singapore Citizen buying your first home. See stamp duty for a new launch and ABSD in Singapore.

Step 5: Take the lower of the two limits, then leave a buffer

Your budget is the lower of (a) the price your income supports under TDSR and (b) the price your cash and CPF can cover for 25% plus stamp duty. Then leave room for legal fees, renovation, furniture, maintenance fees and property tax, and keep an emergency fund. The TDSR test proves you can pay at 4%. It does not prove you would be comfortable.

Worked example for each LinkTown unit type

Unit type (indicative size)	Price	Minimum cash (5%)	Cash or CPF (20%)	BSD	Upfront total (25% + BSD)	Income needed (TDSR at 4%)
1-bedroom + study (506 sq ft)	S$1.27m–1.32m	S$63k–66k	S$253k–263k	S$35.2k–37.2k	S$351k–366k	S$8,240–8,560
2-bedroom premium (678 sq ft)	S$1.70m–1.76m	S$85k–88k	S$339k–353k	S$54.4k–57.7k	S$478k–498k	S$11,030–11,480
3-bedroom premium (1,066 sq ft)	S$2.67m–2.77m	S$133k–139k	S$533k–554k	S$102.9k–108.2k	S$769k–801k	S$17,350–18,040
4-bedroom premium (1,496 sq ft)	S$3.74m–3.89m	S$187k–194k	S$748k–778k	S$164.0k–173.0k	S$1.10m–1.15m	S$24,350–25,320
5-bedroom premium (1,679 sq ft)	S$4.20m–4.37m	S$210k–218k	S$840k–873k	S$191.5k–201.5k	S$1.24m–1.29m	S$27,330–28,420

Two checks on the table. At S$1,695,000, the BSD sum runs S$1,800 + S$3,600 + S$19,200 + S$20,000 + S$9,750 = S$54,350. And on the 2-bedroom loan of S$1,271,250, the 4% stress instalment is about S$6,070, which ÷ 0.55 gives the S$11,030 in the table.

Reading it the other way round

Suppose a couple earns S$14,000 a month with a S$800 car loan. TDSR leaves 55% × S$14,000 − S$800 = S$6,900 for the mortgage at 4%. Over 30 years that supports a loan of about S$1.44m, which at 75% LTV is a price of about S$1.93m. On these illustrative figures, an indicative 2-bedroom fits on income, and a 3-bedroom would need a much larger down payment. They would then check they have roughly S$480k–500k in cash and CPF for the 2-bedroom, including at least S$85k–88k in cash.

What actually leaves your bank account, and when

A new launch spreads payments over the build. The 25% and BSD come early, within the first few months. The bank loan is drawn stage by stage, and you pay instalments only on what has been drawn, so the monthly amount climbs towards TOP and CSC. LinkTown Residences is expected to complete around 2030/2031, and the launch is expected in early 2027, with UOL’s August 2026 results guiding a 2H 2027 launch. Plan for the full instalment at completion, at whatever rates apply then; our home loan rates guide shows the current range.

When real prices and sizes are published, swap them into the steps above. The price list and floor plans pages will be updated at launch, and our LinkTown Residences review sets out who the project suits. Verify with MAS, IRAS, CPF and your bank before you commit.

For quick what-ifs, use the TDSR loan calculator and the other LinkTown calculators.

Register to get LinkTown Residences prices as soon as they’re released.

Frequently asked questions

How much condo can I afford in Singapore?

Work out two limits and take the lower: the loan your income supports under the 55% TDSR at a 4% stress rate, and the cash and CPF you have for the 25% down payment and stamp duty. Verify with MAS, IRAS and your bank.

How much cash do I need to buy a condo?

For a first housing loan at 75% LTV, at least 5% of the price must be cash. The other 20% can be cash or CPF Ordinary Account savings. Buyer’s Stamp Duty is due within 14 days and can be paid by cash first, then reimbursed from CPF.

Is there a mortgage calculator formula I can use?

Monthly instalment = L × r ÷ (1 − (1 + r) to the power of −n), where L is the loan, r is the annual rate divided by 12, and n is the number of months. Banks use 4% for the TDSR test.

How much income do I need for a 3-bedroom at LinkTown Residences?

Illustratively, about S$17,350 to S$18,040 a month with no other debts, for an indicative 1,066 sq ft at analysts’ S$2,500 to S$2,600 psf, a 75% loan over 30 years and the 4% stress rate. No prices have been released.