Home Ownership

Home Purchase Planner

Estimate your home purchase budget and see how it impacts your retirement.

Log in to your CPF account to obtain a more accurate estimate of your home purchase budget and see its impact on your retirement.

Important information

  • If you own more than 1 property, do not use this planner for financial planning. 
  • You can specify up to 1 co-owner in this planner.

To complete the planner, you will need:

  • You and your co-owners’ income, savings, and expenses.
  • Your HDB Flat Eligibility letter or in-principle approval letter from your bank (if available).

Estimated time:

  • 10 minutes

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Home Purchase Planner
1 of   4
Financial profile

Tell us your financial profile

Save time and autofill your CPF information by logging into the CPF website. Doing so will also allow you to see the impact of your budget on retirement.

  

Save time and autofill your financial information by logging into SGFinDex.

  

Logging in may replace some of the information you have filled in previously

Do you want to proceed?

Syncing with SGFinDex may replace any information you have filled in previously

Do you want to proceed?

This planner is only applicable to members aged 21 and above.

$

Gross monthly income is the total annual income earned, including salary, bonuses, dividends, rental income, etc, before taxes or other deductions, divided by 12 months.

$
/ month

Cash savings include cash in your bank accounts, fixed deposits, investments, etc.

$

Monthly expenses include housing loan instalments, utilities, groceries, insurance, etc.

$
/ month

You'll need to enter your co-owner's financial details manually.

This planner is only applicable to members aged 21 and above.

$

Gross monthly income is the total annual income earned, including salary, bonuses, dividends, rental income, etc, before taxes or other deductions, divided by 12 months.

$
/ month

Cash savings include cash in your bank accounts, fixed deposits, investments, etc.

$

Monthly expenses include housing loan instalments, utilities, groceries, insurance, etc.

$
/ month

You and your co-owner's combined household income exceeds $14,000.

The HDB concessionary loan is only available to members with a monthly household income of up to $14,000. To find out more about the income ceiling, you can go to the HDB website.

Do you want to proceed?

Proceed to HDB website

Tell us your housing situation

Do you intend to sell an existing property before purchasing a new one?

Property sale details

$

Need help for pricing? Check HDB's resale flat prices.

When you sell your property, you will need to redeem the outstanding loan from the selling price.

$

When you sell your property, you will need to refund the amount that you have used plus the interest accrued on this amount. This is to restore your retirement savings.

$
(optional)

When you sell your property, your co-owner will need to refund the amount that he/she has used plus the interest accrued on this amount. This is to restore his/her retirement savings.

$
(optional)

If you have bought a subsidised housing, you will need to pay a resale levy when you are listed as a core applicant or core occupier in a flat application to buy a second subsidised flat.

$

Read more about the resale levy under HDB's conditions after buying.

(optional)

Expenses such as property agent's commission will also reduce the amount of sales proceeds you will have.

$

As you or your co-owner are aged 65 and above, you may not be eligible to obtain a housing loan. 

  1. 1 Please check with HDB or your bank directly on your loan eligibility.
  2. 2 If you are eligible for a housing loan, please select "I know my HDB or bank loan amount" and enter your loan details.
  3. 3 If you are not eligible  for a housing loan, please select "I do not plan on taking a loan".

Tell us about your planned property

Which financing option best fits your profile?

Planned property purchase details

This is the loan amount indicated in your HDB Flat Eligibility letter or from the in-principle approval letter from your bank.

$

This is the monthly instalment amount indicated in your HDB Flat Eligibility letter or from the in-principle approval letter from your bank.

$

This is the loan duration indicated in your HDB Flat Eligibility letter or from the in-principle approval letter from your bank.

Find out more about the differences between HDB and bank loans before you decide.

%

The minimum rate set by MAS is 4%. See what rates banks are offering.

(optional)

Housing grants of up to $230,000 are only applicable if you are purchasing a HDB flat. If you have obtained an HDB Flat Eligibility letter, you may input the grant amount in your letter. If you have not obtained an HFE letter, you may visit HDB’s InfoWEB to estimate the amount.

$

Find out more about housing grants

You're approaching or are already eligible for CPF payouts. Proceed to calculate housing budget without seeing the retirement impact.

See how your housing purchase may impact your ability to reach your retirement payout goal

To illustrate this impact, tell us how much you need to support your desired retirement lifestyle.
A simple guide is provided to make your goal-setting straightforward. 

How much do you need monthly if you retire at age 65?

Need help? Use the retirement income guide.

Inflation will be factored in

  • Singapore’s average core inflation rate over the last 20 years has been below 2%.
  • For more information on assumptions and considerations, view detailed notes.

Calculation of impact is unavailable. To use this feature, go back to step 1 and log in.

Click "Calculate" below to see your estimated housing budget.

How much do you need monthly if you retire at age 65?

Select based on your desired retirement lifestyle and potential spending habits, and we will provide an estimate in today’s dollars.

Includes: utilities, home maintenance, phone bills

{estimateHeader}

You can change your answers for another estimate

Retirement goal at 65

Inflation causes prices to rise over time. Expenses today are likely to be higher when you retire.

Your payout goal in today's dollars

Your payout goal in today's dollars

{payoutGoalBeforeInflation}

Your payout goal at 65 with inflation of 2% factored in

Your payout goal at 65 with inflation of 2% factored in

{payoutGoalAfterInflation}

  • Singapore’s average core inflation rate over the last 20 years has been below 2%.
  • For more information on assumptions and considerations, view detailed notes.

Retirement Income Guide

Detailed Notes

General

  • By accessing the CPF Board website, you acknowledge the following Terms of Use, including this Disclaimer.
  • The results and/or estimates provided by the planner are intended to be used for illustrative purposes only, and should not be regarded as advice by CPF Board or used as a substitute for financial advice. These results and/or estimates are also based on the current assumptions which are subject to changes at any time without notice.

Setting Retirement Goal

  • The initial retirement goal selected by you is expressed in today’s dollars.
  • An annual 2% inflation rate is applied to your selected retirement goal to compute your payout goal at age 65.
  • In the retirement income guide, retirement lifestyle choices provided are based on expenditure items from the Household Expenditure Survey.

Retirement Projections

  • Projections are based on the details you provided under the financial profile and housing situation pages. If you do not provide current and accurate information, the projections may not be suitable for your use.
  • Ordinary Account (OA), Special Account (SA) and/or Retirement Account (RA) balances are projected, starting from the current month when the planner is used and ending when you are projected to reach age 65.

CPF balances used for projections

  • All OA balances are assumed to have been used for home purchase.
  • For those aged below 55 at the point of using the planner, SA balances are projected using the latest available SA balances. At age 55, the SA will be closed. SA savings will be transferred to the RA up to the Full Retirement Sum (FRS), with excess SA savings transferred to the OA.
  • For those aged 55 and above at the point of using the planner, RA balances are projected using the latest available RA balances. If you have indicated to sell your existing property in this planner, the refunded CPF principal amount and accrued interest that is used to meet your FRS will also be added to your latest available RA balances.

CPF contributions used for projections

  • Projections assume that you remain employed throughout the projection period, with regular CPF contributions from employment.
    • CPF contribution rates are based on those for private sector employees and government non-pensionable employees across the different age groups.
    • CPF contributions on monthly salary are capped at the prevailing salary ceiling.
    • Annual increments to salary are assumed to be constant at 3% annual growth rate over the projection period, and applied at the end of every December.
  • If you are not taking a loan for your home purchase, all your OA contributions from employment will be used to project your retirement savings.
  • If you are taking a loan for your home purchase, any excess OA contributions from employment after paying the monthly instalment of the estimated home purchase is used to project your retirement savings:
    • The OA contributions that go towards your monthly instalment depends on your selection of the ‘use all CPF’, ‘use mostly CPF’ or ‘use half CPF’ scenarios.
    • The monthly instalment amount is based on what you entered in the planner or estimated by the planner, and capped at your monthly OA contribution. If you indicated a co-owner, the monthly instalment payable is assumed to be equally divided between you and your co-owner.

CPF interest used for projections

  • CPF savings are assumed to grow with CPF interest over the projection period.
    • For projection period before age 55, SA balances are assumed to earn 4% interest per annum, while OA balances are assumed to earn 2.5% interest per annum. The first $60,000 (capped at $20,000 for OA) is assumed to earn an extra 1% per annum interest, which is credited to the SA.
    • For projection period after age 55, RA balances are assumed to earn 4% interest per annum, while OA balance are assumed to earn 2.5% interest per annum. The first $30,000 (capped at $20,000 for OA) is assumed to earn an additional 1% interest per annum. These additional interests will be credited to the RA.
    • CPF interest is calculated monthly, but credited and compounded annually at the end of December.

Projected retirement savings at age 65

  • The projected retirement payouts assumes that the sum of the OA and RA balances you are projected to have at age 65, capped at the Enhanced Retirement Sum (ERS), are committed to CPF LIFE under the Standard Plan.  ERS is set at four times the Basic Retirement Sum, which is assumed to grow at 3.5% per annum.

Results

Estimated purchase budget based on your input

Estimated purchase budget
We calculated this budget by adding any housing loan and available funds.

{estimatedPurchaseBudget}

See breakdown

Your inputs

Assumptions

The planner adopts the following assumptions:

 

Home purchase budget:

 

1.       The home purchase budget is computed by adding any housing loan and available funds.

2.      The housing loan is the estimated amount that you can borrow, or the specific loan amount you entered.

3.      The available funds is the sum of your and your co-owner’s (if any) CPF Ordinary Account balances, cash savings, and any balance sales proceeds, any principal CPF amount withdrawn and accrued interest (P+I), and any housing grants.

 

If you indicated assistance to estimate your housing loan amount:

 

4.       All housing loan information (including loan amount, loan duration and monthly instalment amount) presented in the planner are indicative figures. These figures are computed using factors such as the mortgage servicing ratio, loan repayment period, loan interest rate and loan-to-value, based on MAS’ and MND’s prevailing housing loan rules.

5.      CPFB is not liable for all information reflected in the planner pertaining to housing loan. The housing loan estimated by the planner may differ from the housing loan provided by HDB/banks due to differences in assumptions and computational approach. It also does not constitute an approval or acceptance by HDB/banks for your housing loan. Please approach HDB or the banks directly for more information on your housing loan eligibility and amount.

 

Balance sales proceeds:

 

6.    The balance sales proceeds are derived using the selling price of your home less outstanding housing loan, P+I (including co-owner’s, if any), resale levy and other expenses.

7.    If you are aged 55 and above and logged in to your CPF account, your Retirement Account (RA) shortfall to your Full Retirement Sum (FRS) will be used instead of your P+I for the computation of the balance sales proceeds, if the former is smaller.

 

Principal CPF amount withdrawn and accrued interest:

 

8.    If you and your co-owner are below age 55, the planner assumes that your respective P+I is used for your next home purchase.

9.    If you are aged 55 and above and logged in to your CPF account, the planner assumes that the P+I in excess of your RA shortfall is used for your next home purchase.

10.    If you are aged 55 and above and not logged in to your CPF account, as well as for all co-owners aged 55 and above, the planner assumes that the P+I is not used for the next home purchase.

 

General:

 

11.    You should check your eligibility to apply for a housing loan from HDB or banks, and/or to receive CPF housing grants, before committing to a home purchase.

 

12.    The planner is intended to provide general guidance on housing affordability with results and/or estimates intended for illustrative purposes only. It should not be regarded as advice by CPF Board or used as a substitute for financial advice

 

 

Breakdown

Computation breakdown

Based on inputs you provided and assumptions used in the program.

Housing loan details

You have selected not to obtain a loan

Housing loan details

Any property with housing loan
Loan amount {loanAmount}
Loan period (years) {loanPeriod}
Monthly instalment (MI) {monthlyInstallment}

Housing loan details

{hdb_bankLoanSubheader}
Loan amount {loanAmount}
Loan period (years) {loanPeriod}
Interest rate (per year) {interestRate}
Monthly instalment (MI) {monthlyInstallment}

Upfront payment

You may need to pay for certain upfront payments such as stamp duty and legal fees. Use HDB's Payment Plan Calculator to calculate your payments at each stage of your flat purchase journey.

The calculation is based on this information you have provided

Your financial profile

Date of birth

Date of birth

{dateOfBirth}

Ordinary Account balance

Ordinary Account balance

{ordinaryAccountBalance}

Gross monthly income

Gross monthly income

{grossMonthlyIncome}

Cash savings

Cash savings

{cashSavings}

Monthly expenses

Monthly expenses

{monthlyExpenses}

Your co-owner's financial profile

Date of birth

Date of birth

{coDateOfBirth}

Ordinary Account balance

Ordinary Account balance

{coOrdinaryAccountBalance}

Gross monthly income

Gross monthly income

{coGrossMonthlyIncome}

Cash savings

Cash savings

{coCashSavings}

Monthly expenses

Monthly expenses

{coMonthlyExpenses}

Your housing details

Existing property to sell

Existing property to sell

{existingPropertyToSell}

Intended selling price

Intended selling price

{intendedSellingPrice}

Outstanding housing loan

Outstanding housing loan

{outstandingHousingLoan}

Principal amount withdrawn and accrued interest

Principal amount withdrawn and accrued interest

{principalAmount}

Co-owner’s principal amount withdrawn and accrued interest

Co-owner’s principal amount withdrawn and accrued interest

{coPrincipalAmount}

Resale levy (optional)

Resale levy (optional)

{resaleLevy}

Other expenses (optional)

Other expenses (optional)

{otherExpenses}

Obtaining a loan for your new property

Obtaining a loan for your new property

{loanDetailsUserAnswer}

Your planned property purchase details

Loan profile

Loan profile

{loanProfile}

Housing loan amount

Housing loan amount

{housingLoanAmount}

Monthly instalment

Monthly instalment

{monthlyInstalment}

Loan duration in years

Loan duration in years

{loanDurationYears}

Loan estimates from

Loan estimates from

{loanEstimatesFrom}

Bank loan interest rate

Bank loan interest rate

{bankLoanInterestRate}

Housing grant amount (optional)

Housing grant amount (optional)

{housingGrant}

Your retirement goal

Your payout goal in today’s dollars

Your payout goal in today’s dollars

{payoutGoalTodaysDollar}

Your payout goal at 65 with inflation of 2% factored in

Your payout goal at 65 with inflation of 2% factored in

{payoutGoalInflation}

You may not qualify for the loan amount as you do not have enough funds for the 25% downpayment needed. To recalculate your budget, close this window, click "Edit", then select "Estimate my loan for me."

Breakdown of estimated purchase budget

Estimated purchase budget
We calculated this budget by adding any housing loan and available funds.
Housing loan
This is the estimated amount you can borrow, or the specific loan amount you entered.
Available funds
This is the sum of your and your co-owner's (if applicable) CPF Ordinary Account balances and cash savings, any balance sales proceeds, and any housing grants.
Your Retirement Goal

You'll be short of your ​retirement goal of {mthlygoal} by {shortageamt} when you reach age 65.

Simulated on {date}

Explore the scenarios below to see how using less CPF savings for

monthly instalments could boost your retirement payouts. Find out

what these scenarios mean.

 

 

CPF usage

Use all CPF
  •  Using 100% of CPF Ordinary Account contributions for your monthly instalment

Use mostly CPF

  • Using 75% of CPF Ordinary Account contributions for your monthly instalment

Use half CPF

  • Using 50% of CPF Ordinary Account contributions for your monthly instalment

You may need to pay in cash if the amount used from your CPF is less than your monthly instalments.

Projected CPF payout at age 65

{useAllCpfProjectionCaption}

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Projected CPF payout at age 65

{useMostlyCpfProjectionCaption}

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Projected CPF payout at age 65

{useHalfCpfProjectionCaption}

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Projected payout at age 65

{noLoanProjectionChartCaption}

Your browser does not support the canvas element.
 
It looks like you are unable to meet your retirement goal.

Consider the following to increase your monthly payouts:

  1. Use less CPF savings and more cash to service your monthly instalments where possible. Explore the scenarios above to see how using less CPF savings for monthly instalments could boost your retirement payouts.
  2. Choose a more affordable flat, such as smaller flats.
  3. Start making cash top-ups to your CPF accounts early.
 
It looks like you are unable to meet your retirement goal.

Consider the following to increase your monthly payouts:

  1. Choose a more affordable flat, such as smaller flats.
  2. Start making cash top-ups to your CPF accounts early.
 

Continue growing your savings at an attractive interest rate of up to 6% per annum if you make a cash top-up or CPF transfer to your Special Account (if you're below 55) or Retirement Account (if you're above 55).

  • CPF top-ups are irrevocable
  • For more information on the assumptions and considerations of the projection, view detailed notes.

Detailed Notes

General

  • By accessing the CPF Board website, you acknowledge the following Terms of Use, including this Disclaimer.
  • The results and/or estimates provided by the planner are intended to be used for illustrative purposes only, and should not be regarded as advice by CPF Board or used as a substitute for financial advice. These results and/or estimates are also based on the current assumptions which are subject to changes at any time without notice.

Setting Retirement Goal

  • The initial retirement goal selected by you is expressed in today’s dollars.
  • An annual 2% inflation rate is applied to your selected retirement goal to compute your payout goal at age 65.
  • In the retirement income guide, retirement lifestyle choices provided are based on expenditure items from the Household Expenditure Survey.

Retirement Projections

  • Projections are based on the details you provided under the financial profile and housing situation pages. If you do not provide current and accurate information, the projections may not be suitable for your use.
  • Ordinary Account (OA), Special Account (SA) and/or Retirement Account (RA) balances are projected, starting from the current month when the planner is used and ending when you are projected to reach age 65.

CPF balances used for projections

  • All OA balances are assumed to have been used for home purchase.
  • For those aged below 55 at the point of using the planner, SA balances are projected using the latest available SA balances. At age 55, the SA will be closed. SA savings will be transferred to the RA up to the Full Retirement Sum (FRS), with excess SA savings transferred to the OA.
  • For those aged 55 and above at the point of using the planner, RA balances are projected using the latest available RA balances. If you have indicated to sell your existing property in this planner, the refunded CPF principal amount and accrued interest that is used to meet your FRS will also be added to your latest available RA balances.

CPF contributions used for projections

  • Projections assume that you remain employed throughout the projection period, with regular CPF contributions from employment.
    • CPF contribution rates are based on those for private sector employees and government non-pensionable employees across the different age groups.
    • CPF contributions on monthly salary are capped at the prevailing salary ceiling.
    • Annual increments to salary are assumed to be constant at 3% annual growth rate over the projection period, and applied at the end of every December.
  • If you are not taking a loan for your home purchase, all your OA contributions from employment will be used to project your retirement savings.
  • If you are taking a loan for your home purchase, any excess OA contributions from employment after paying the monthly instalment of the estimated home purchase is used to project your retirement savings:
    • The OA contributions that go towards your monthly instalment depends on your selection of the ‘use all CPF’, ‘use mostly CPF’ or ‘use half CPF’ scenarios.
    • The monthly instalment amount is based on what you entered in the planner or estimated by the planner, and capped at your monthly OA contribution. If you indicated a co-owner, the monthly instalment payable is assumed to be equally divided between you and your co-owner.

CPF interest used for projections

  • CPF savings are assumed to grow with CPF interest over the projection period.
    • For projection period before age 55, SA balances are assumed to earn 4% interest per annum, while OA balances are assumed to earn 2.5% interest per annum. The first $60,000 (capped at $20,000 for OA) is assumed to earn an extra 1% per annum interest, which is credited to the SA.
    • For projection period after age 55, RA balances are assumed to earn 4% interest per annum, while OA balance are assumed to earn 2.5% interest per annum. The first $30,000 (capped at $20,000 for OA) is assumed to earn an additional 1% interest per annum. These additional interests will be credited to the RA.
    • CPF interest is calculated monthly, but credited and compounded annually at the end of December.

Projected retirement savings at age 65

  • The projected retirement payouts assumes that the sum of the OA and RA balances you are projected to have at age 65, capped at the Enhanced Retirement Sum (ERS), are committed to CPF LIFE under the Standard Plan.  ERS is set at four times the Basic Retirement Sum, which is assumed to grow at 3.5% per annum.

 

 

Planning to purchase your retirement home?

 

Why are you buying a flat? How much CPF savings can you reuse? What are your housing and
financing options? What is the buying and selling process? How can I monetise my flat?

 

Visit our comprehensive guide and secure your retirement home without neglecting your
retirement needs.

 

Home buying guide for members above 55

 

Next steps

Apply for your HDB Flat Eligibility letter

If you've not done so, apply for your HDB Flat Eligibility letter. With it, you'll know upfront your flat ownership eligibility, available housing grants, and HDB housing loan eligibility.

Apply for letter
It's time to select your flat

If you've received your HFE letter, you can now select a flat. Keep in mind how your purchase may impact your retirement.

Select a flat

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