HDB Upgrade Calculator

Sell your flat, buy the next home: cash and CPF from the sale, the loan you can get, and any funding gap.

The Flat You Are Selling

Expected sale price

Outstanding housing loan

CPF used for the flatYour CPF Home ownership dashboard (Singpass) shows the exact refund.

CPF principal used, all owners

Accrued interest, all owners

Years since first use

years

Estimated at 2.5% a year, the current OA rate.

Agent commission on the sale

% of price

Negotiable. Enter 0 if selling without an agent.

Legal fees for the sale

Add 9% GST to the commission (the agency is GST-registered)

The Home You Are Buying

Price of the new home

Type of home and loan

Buyers (married couple)

Order of sale and purchaseBuying first means ABSD upfront and a lower loan limit while the HDB loan is outstanding.

Legal and other buying fees

Stamp duty is added for you.

Renovation and furnishing

Paid in cash in this tool.

Income, Debts And Savings

Fixed monthly income, both buyers

Gross, before CPF.

Variable income a month

Bonus, commission, rent. Counted at 70%.

Other monthly debt repayments

Car, renovation, personal and study loans.

Current flat's monthly instalment

Counts against TDSR only if you buy first.

Age of the borrowers

years

Average, weighted by income for a bank loan.

Loan tenure

years

Interest rate you expect to pay

% a year

Your assumption. Only the instalment uses it.

Cash savings you can put in

Leave out your emergency fund.

CPF Ordinary Account balances today, both buyers

Before the CPF refund from the sale, which the tool adds.

Funding surplus or gap–

From The Sale

Sale price: –
Less outstanding loan: –
Less CPF refund (principal and interest): –
Less commission, GST and legal fees: –
Cash proceeds: –

The Loan

Maximum loan by income: –
Maximum loan by LTV: –
Maximum after HDB's own-funds rule: –
Loan used here: –
Monthly instalment: –
Debt ratio at the test rate: –

What The New Home Needs

Downpayment (price less loan): –
of which must be cash: –
Buyer's Stamp Duty: –
ABSD: –
Legal fees and renovation: –
Paid from CPF: –
Paid in cash: –

What You Have

Cash: savings plus sale proceeds: –
CPF: OA today plus the refund: –
CPF left in the OA afterwards: –

How The Upgrade Is Worked Out

Your flat's sale price repays the housing loan first. The CPF you used, with accrued interest, then goes back to your own CPF accounts, and what is left after the agent's commission and legal fees is your cash. The refund is not lost: within CPF rules it can pay for the next home.

The loan for the new home is the smaller of two limits. The income limit is what your monthly income can carry under TDSR (and MSR for an HDB flat), tested at a higher rate than you will probably pay. The loan-to-value limit is a share of the price, which drops sharply if your current home loan is still outstanding when you take the new one.

Everything the loan does not cover comes from you. Part of the downpayment must be cash; the rest, plus stamp duty and legal fees, can come from CPF. The headline compares the cash you will have with the cash the purchase needs. A gap means the plan does not work on these figures; a small surplus leaves little room for cash over valuation, delays or a rate rise.

If you buy before selling, ABSD is due within 14 days of the purchase and is refunded only if the flat is sold within 6 months and IRAS's other conditions are met.

Assumptions And Limits

The sale price repays the housing loan first, then the CPF refund, then selling costs, following CPF Board. If you are 55 or older, CPF Board tops up your Retirement Account first, so less of the refund may be free for the next home.
The loan is tested at 4% (or your own rate if higher) for bank loans and at HDB's floor for HDB loans, against 55% TDSR and, for HDB flats, 30% MSR. Banks and HDB make their own assessment.
Valuation is assumed equal to the price. Any amount above valuation is cash only, and CPF use is capped at the lower of price or valuation unless you have set aside your Basic Retirement Sum.
ABSD assumes a married couple buying jointly in both names only. Buying first, ABSD is paid upfront and refunded by IRAS only if the flat is sold within the six-month window and all other conditions are met.
For an HDB loan, the tool assumes two buyers and applies HDB's rule that a second-timer uses the CPF refund and part of the cash proceeds first. Income ceilings, the resale levy and grants are not checked.
Leaves out cash over valuation, option fees timing, mortgage duty, fire insurance, moving costs, bridging loan interest and any change in rates. Estimates only.

This calculator was built with AI tools from published rules and may contain errors. Results are estimates for education only, not financial advice and not a guarantee. Rates and rules change; confirm with the official source before you act. Your figures stay in your browser: nothing you type is sent to us.

The Flat You Are Selling

The Home You Are Buying

Income, Debts And Savings

From The Sale

The Loan

What The New Home Needs

What You Have

How The Upgrade Is Worked Out

Assumptions And Limits

Sources