Home Ownership

Home Purchase Planner

Estimate the property price and amount of housing loan that you can afford and see how it impacts your retirement payouts

You can specify up to one co-owner in this planner. Your property price and housing loan amount depends on you and your co-owner's income, savings and monthly expenses

Important notes
  • You will require you and your co-owner’s (if applicable) financial information (e.g. monthly income, expenses) and CPF balances to proceed
  • All fields are mandatory unless marked optional
  • This planner is only applicable to members aged 21 to 64 and do not own more than one property
  • You are required to log in to your CPF account to see the impact of your planned housing purchase on your retirement payouts
Estimated time
  • 10 minutes

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Home Purchase Planner
1 of   3
Financial profile

Tell us your financial profile

Login to your CPF account to retrieve your date of birth, OA and SA balance, principal amount withdrawn and accrued interest.


You must be logged in to see the impact of your planned home purchase on your retirement payouts.

Sync with SGFinDex to retrieve your monthly income, cash savings, monthly expenses and housing loans.

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 between 21 and 64.

$

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 can add up to 1 co-owner

This planner is only applicable to members aged between 21 and 64.

$

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? Visit HDB website to view 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

$

Need help? Visit HDB website to calculate your resale levy.

(optional)

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

$

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

  • If you made changes to the data retrieved from your CPF records, the projections may not be suitable for your use.
  • 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.

This function is only enabled for members who are logged in to their CPF accounts

Proceed to the next step by clicking ‘Calculate’ below.

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}

Your retirement savings goal

Your retirement savings goal

{savingsGoal}

This is the savings you need at age 65 to receive your target monthly payout of {payoutGoalAfterInflation} for life.

  • If you made changes to the data retrieved from your CPF records, the projections may not be suitable for your use.
  • 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.
  • Based on the assumption that the full savings amount can be committed to CPF LIFE, your savings goal at age 65 is computed by deriving the amount of annuitised savings needed to achieve your payout goal at age 65 through the CPF LIFE Standard Plan.
  • 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 information and housing situation pages. If you do not provide current and accurate information, the projections may not be suitable for your use.
  • Projections will start from the current month, and end when you are projected to reach age 65.
  • Ordinary Account (OA), Special Account (SA) and/or Retirement Account (RA) balances are projected.
  • Initial OA balances used for projections are based on your OA balances after paying your downpayment, buyer stamp duty and legal fees. If you have indicated a co-owner, your OA balances after upfront payments will be pro-rated based on your own and your co-owner’s OA balances as well as the principal CPF amount withdrawn and accrued interest.
  • Initial SA balances used for projections are based on your latest available SA balances.
  • RA balances are used for projections for those aged 55 and above at the point of using the planner. The initial RA balances used are based on your 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 Full Retirement Sum will also be added to your latest available RA balances.
  • Projections assume that you remain employed throughout the projection period.
    • 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.
  • CPF contributions from employment will be added to the projections of CPF savings. For OA contributions, any remaining OA contributions from employment after paying the monthly instalment of the recommended home purchase with HDB loan is used in the projections too. If you have indicated a co-owner, the monthly instalment payable is assumed to be equally divided between you and your co-owner.
  • 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, SA/RA balances are assumed to earn 4% interest per annum, which 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.
  • The projected savings are based on the sum of the OA, SA and/or RA balances you are projected to have at age 65, capped at the prevailing Enhanced Retirement Sum (ERS) when you are reaching age 65. ERS is set at three times the Basic Retirement Sum, which is assumed to grow at 3.5% per annum.
  • Projected payouts are based on the assumption that the projected savings (capped at the ERS) are committed to CPF LIFE, with the payout amount based on the CPF LIFE Standard Plan payout.

Results

Based on your income, savings and expenses, we recommend this purchase price:

BTO / other flat with HDB loan

{possiblePropertyPurchasePrice}

Any property with bank loan

{possiblePropertyPurchasePriceBL}

Your inputs

Assumptions

The planner adopts the following assumptions:

  1. The loan repayment period is based on the lower of (i) 25 years or (ii) the remaining number of years until the user turns 65 years old. For (ii), if user inputs a co-owner, the average age is used.
  2. The mortgage servicing ratio (or percentage of gross monthly income that can be afforded to be spent on housing) is 25%. For property financed with bank loan, recommended purchase price and monthly instalment amount are computed based on 4% interest rate. For property financed with HDB loan, recommended purchase price is based on 3% interest rate and the monthly instalment amount is computed based on the prevailing HDB housing loan concessionary interest rate of 2.6%.
  3. The recommended purchase price (rounded up to the nearest dollar) is derived based on the lower of the (a) purchase price possible with the maximum housing loan and (b) purchase price possible based on user’s existing capital. For (a), the planner first computes the estimated maximum loan possible using factors such as mortgage servicing ratio and loan interest rate. The planner then computes the purchase price using 100/80 and 100/75 of the maximum loan possible for HDB loan and bank loan respectively, as 80% and 75% is the loan-to-value for HDB loan and bank loan. For (b), the planner computes the purchase price based on 5 times and 4 times the amount of capital that the user and co-owner (if any) have for HDB loan and bank loan respectively, as the downpayment required for HDB loan and bank loan is 20% and 25% respectively. The amount of existing capital is based on cash savings and existing CPF Ordinary Account balances. If the user indicates the intention to sell his existing flat, any balance sales proceeds and/or any principal CPF amount withdrawn and accrued interest will also be included.
  4. For users under the age of 55 who indicate that they intend to sell their flat, the balance sales proceeds are derived using the selling price of their home less outstanding housing loan, principal CPF amount withdrawn and accrued interest (including co-owner's, if any), resale levy and other expenses.  
  5. For users above the age of 55 who indicate that they intend to sell their flat, the balance sales proceeds are derived using the selling price of their home less outstanding housing loan, the lower of the user’s (i) principal CPF amount withdrawn and accrued interest or (ii) Retirement Account shortfall to the Full Retirement Sum (if user is logged into CPF) or the user’s principal CPF amount withdrawn and accrued interest (if the user is not logged into CPF), co-owner’s principal CPF amount withdrawn and accrued interest (if any), resale levy and other expenses. 
  6. For users and co-owners aged under 55, the planner assumes that their principal CPF amount withdrawn and accrued interest are refunded back to their CPF Ordinary Account, which can be used for their flat. 
  7. For HDB concessionary loan, the planner will retain up to $20,000 of the CPF Ordinary Account savings for the user and co-owner (if any) as contingency funds, with the remaining CPF Ordinary Account savings used to reduce the loan required. For bank loan, the planner will reserve CPF savings equivalent to about 6 months of monthly instalments as contingency funds, and use the rest to reduce the loan required.
  8. Buyer stamp duty is assessed at 1% of property price for first $180,000; 2% on the next $180,000; 3% on the next $640,000, 4% on the next $500,000, 5% on the next $1,500,000 and 6% thereafter. The planner assumes that CPF will be used to pay the stamp fees wherever possible.
  9. Legal fees are assumed to be 1.5% of property price. The planner assumes that CPF will be used to pay the legal fees wherever possible.
  10. CPF housing grant, agents commission, and Home Protection Scheme premium are not included in the planner.
  11. If user has insufficient CPF Ordinary Account savings, the planner assumes that cash is used to cover the difference.
  12. User’s current cash balances are factored into the calculation, where excess cash balances after any payment of buyer stamp duty, legal fees, etc, will be used to reduce the recommended loan amount.
  13. The housing results are based on the combined circumstances of the user and co-owner (if any).

This 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. Due to the assumptions and computational approach adopted, the results may not necessarily be similar to those provided by HDB/banks. These results and/or estimates are also based on the current assumptions, which are subject to change at any time without notice.

Computation breakdown

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

Housing loan details

Housing loan details for HDB or bank loan

BTO/other flat with HDB loan Any property using bank loan
Loan amount {loanAmount} {loanAmount}
Loan period (years) {loanPeriod} {loanPeriod}
Interest rate (per year) {interestRate} {interestRate}
Monthly instalment (MI) {monthlyInstallment} {monthlyInstallment}

Upfront payment

Upfront payments you would need to make

BTO/other flat with HDB loan Any property using bank loan
CPF Cash CPF Cash
Downpayment {downPayment} {downPayment} {downPayment} {downPayment}
Stamp and legal fee {stampAndLegalFees} {stampAndLegalFees} {stampAndLegalFees} {stampAndLegalFees}
OA savings used {lumpSumUsedForUpfrontPayment} {lumpSumUsedForUpfrontPayment} {lumpSumUsedForUpfrontPayment} {lumpSumUsedForUpfrontPayment}
OA balance after upfront payments {ordinaryAccountBalanceAfterUpfrontPayment} {ordinaryAccountBalanceAfterUpfrontPayment} {ordinaryAccountBalanceAfterUpfrontPayment} {ordinaryAccountBalanceAfterUpfrontPayment}

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 situation

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}

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}

Your Retirement Goal

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

Simulated on {date}

Your Retirement Goal

You will be short of your ​retirement goal of {mthlypayout} by {projectedmthlypayout} when you reach age 65.

Simulated on {date}

Projected payout at age 65

{caption}

Your browser does not support the canvas element.
Projected savings at age 65

{caption}

Your browser does not support the canvas element.

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 RA (if you're above 55). Find out more under the resources below.

  • 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.
  • Based on the assumption that the full savings amount can be committed to CPF LIFE, your savings goal at age 65 is computed by deriving the amount of annuitised savings needed to achieve your payout goal at age 65 through the CPF LIFE Standard Plan.
  • 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 information and housing situation pages. If you do not provide current and accurate information, the projections may not be suitable for your use.
  • Projections will start from the current month, and end when you are projected to reach age 65.
  • Ordinary Account (OA), Special Account (SA) and/or Retirement Account (RA) balances are projected.
  • Initial OA balances used for projections are based on your OA balances after paying your downpayment, buyer stamp duty and legal fees. If you have indicated a co-owner, your OA balances after upfront payments will be pro-rated based on your own and your co-owner’s OA balances as well as the principal CPF amount withdrawn and accrued interest.
  • Initial SA balances used for projections are based on your latest available SA balances.
  • RA balances are used for projections for those aged 55 and above at the point of using the planner. The initial RA balances used are based on your 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 Full Retirement Sum will also be added to your latest available RA balances.
  • Projections assume that you remain employed throughout the projection period.
    • 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.
  • CPF contributions from employment will be added to the projections of CPF savings. For OA contributions, any remaining OA contributions from employment after paying the monthly instalment of the recommended home purchase with HDB loan is used in the projections too. If you have indicated a co-owner, the monthly instalment payable is assumed to be equally divided between you and your co-owner.
  • 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, SA/RA balances are assumed to earn 4% interest per annum, which 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.
  • The projected savings are based on the sum of the OA, SA and/or RA balances you are projected to have at age 65, capped at the prevailing Enhanced Retirement Sum (ERS) when you are reaching age 65. ERS is set at three times the Basic Retirement Sum, which is assumed to grow at 3.5% per annum.
  • Projected payouts are based on the assumption that the projected savings (capped at the ERS) are committed to CPF LIFE, with the payout amount based on the CPF LIFE Standard Plan payout.

Resources

Financial Planning Guide

Take simple steps to enhance your financial well-being with this Basic Financial Planning Guide.

Learn more
Securing your retirement

Find out how to get started with retirement planning, and help to optimise CPF LIFE to complement your retirement needs.

Learn more
Guide to home ownership

Find out everything you need to know about buying a property within your means using your Ordinary Account savings.

Learn more
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