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How much can your property cash out?

Work out how much cash you can unlock from your private property, based on MAS's limits. Start with 75% of the bank's valuation. Subtract the home loan you still owe, and every CPF dollar used on the property — plus the interest that CPF would have earned. The tool also shows the most you can borrow without any income test, and what your maximum equity loan would cost you each month. It comes with one restriction: you cannot use this money to buy a home.

MAS equity term loan rules, verified 17 Jul 2026 · Borrowing limit 75% (45% with other housing loans) · CPF + accrued interest netted off · No income test on the first 50% of value · Private property only

Property, loan and CPF details

S$
The bank's appointed valuer decides the figure that counts — not your purchase price.
S$
On this property. Enter 0 if fully paid.
S$
Downpayment + instalments + stamp duty paid from CPF OA. Check "My Statement" on the CPF portal.
S$
The 2.5% p.a. your CPF would have earned — shown on the same CPF statement.
With other outstanding housing loans, the borrowing limit drops from 75% to 45% of valuation (MAS rules).
%
75% is the MAS borrowing limit; banks can apply less based on age, income and property. Edit if your bank quotes a lower figure.

Repayment estimate (optional)

% p.a.
Equity loans are usually priced like the housing package — see current rates.
years
Capped like a housing loan; longer tenures past age 65 face tighter limits.

The repayment is cash only — CPF cannot service an equity term loan.

How the limit is found

Maximum equity loan = borrowing limit (75%, or 45% with other housing loans) × valuation − outstanding loan − CPF used − CPF accrued interest. The CPF deduction exists because you'll have to refund that CPF money, plus the interest it would have earned, to your CPF account when you eventually sell the property — so the bank sets it aside from what you can borrow now.

The loan skips TDSR (Total Debt Servicing Ratio, the 55% income test on your borrowing) if it stays within 50% of your home's valuation instead of 75%: subtract the same outstanding loan and CPF figures, and whatever's left is the largest loan you can take without an income check. Borrow more than that amount, and the whole loan — not just the amount above it — must pass TDSR's 55% limit, at the 4% stress rate.

Why the bank won't lend you all your home equity

What your home is worth, minus what you owe, is not the same as what the bank will lend you. Two things reduce how much of that you can borrow.

The 75% limit. You can only borrow up to 75% of what your home is worth — 45% if you have another home loan too.

The CPF claim. Every CPF dollar used for the downpayment, instalments or stamp duty on this property — plus the 2.5% it would have earned — goes back to your CPF account when you sell. Because CPF is refunded before the bank is paid, that same amount is deducted from your borrowing limit.

How $1.3 million of paper equity becomes $805,000 you can borrow, on a $1.5M condominium with a $200,000 loan and $120,000 of CPF claims. Illustrative; the bank's own valuation and credit checks decide the real offer.
LineAmount
75% of the bank's valuation$1,125,000
Less the outstanding home loan− $200,000
Less CPF used− $100,000
Less the interest that CPF would have earned− $20,000
Maximum cash-out$805,000
Maximum cash-out with no income test$430,000

If most of your mortgage was paid with CPF rather than cash, the CPF deduction is often larger than owners expect. Our equity term loan guide breaks down the full calculation.

What four restrictions do people miss?

You cannot use this loan to buy a home — MAS doesn't allow it to be used for a property purchase. So this is not a short cut to a deposit on a second home. If you're buying a second home without an equity term loan, our stamp duty calculator works out what you need to pay in stamp duty.

Repayment is cash only. A home loan lets you use CPF toward the instalment. This loan doesn't.

It is for private property only. HDB flats aren't eligible. An EC only qualifies after its five-year Minimum Occupation Period (MOP).

There's a fourth rule: keep your loan within 50% of your home's value, and it skips the 55% income test. Borrow more than that, and the whole loan must pass the test, alongside your other debts. Our affordability calculator shows how much you can borrow.

Frequently asked questions

What is an equity term loan?

MAS calls it a Mortgage Equity Withdrawal Loan — a cash loan backed by your private property. The bank lends you up to 75% of the valuation, minus your loan and the CPF you used (plus interest).

Can it be used to buy another property?

No. This loan cannot be used to buy residential property, under MAS rules. It can fund investments, a business, education, or other debt — just not a home purchase.

Why is CPF deducted from the maximum loan amount?

When you sell, CPF is paid back first. That's why the CPF you used, plus its interest, is subtracted from your borrowing limit.

Can I take one on an HDB flat?

No. This loan is for private residential property only. HDB flats can't use it, and executive condominiums can only take this loan after their five-year Minimum Occupation Period ends.

Does your loan need to pass the 55% income test (TDSR)?

Mostly, yes — but there's an exception. If your loan stays within 50% of your home's value instead of 75% (minus the same loan and CPF figures), it's exempt from TDSR entirely. Borrow more than that, and the whole loan must pass the 55% income test, tested at a 4% stress rate.

Can CPF pay the instalments?

No. Every instalment must be paid in cash — check your take-home pay covers the instalment, not your CPF.

Disclaimer This calculator is an educational estimate, not financial advice and not a loan offer. It applies the MAS Mortgage Equity Withdrawal Loan limits that were in effect as of July 2026; the amount a bank actually grants depends on its own valuation, your TDSR position, credit profile, property type and internal credit policy, and may be lower than shown. Legal and valuation fees (typically S$2,500–S$4,000) are not modelled. Banks are prohibited by MAS from granting a home equity loan, or any other loan secured against your home's equity, for the purchase of residential property. Always verify with your bank and obtain independent financial advice before borrowing against your home. PropertyInsider.sg disclaims liability for decisions made on the basis of this tool.

Talk it through with an advisor

A calculator gives you the number; it can't tell you what to do with it. If you want to work through what these figures mean for your own situation — budget, ABSD position, timing an HDB sale, or comparing launches against resale options — you can request a one-to-one consultation.

  • No obligation. The first conversation is about your goals.
  • Affordability and stamp duty worked out on your actual numbers.
  • Launch and tender alerts for the projects you shortlist.

Disclosure: advisory consultations are provided by Jamus Lee (CEA Reg. No. R065771E, ERA Realty Network Pte Ltd, Licence No. L3002382K), the publisher of PropertyInsider.sg, via JamusProperty.com. This is a separate service from our editorial research and has no influence over what we publish. See our editorial policy. Submitting this form shares your details with the advisory practice; see our privacy policy.

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