# COV Calculator: How Much Cash You Need for an HDB Resale Flat

Work out cash over valuation (COV) and the total cash you need upfront for an HDB resale flat, using HDB's 75% loan limit, bank cash rules and your CPF.

Interactive tool: https://lookup.sg/tools/cash-over-valuation-calculator

## How this works
Cash over valuation (COV) is the amount by which the agreed resale price exceeds HDB's valuation of the flat. Loans and CPF are capped at the lower of the price or the valuation, so COV must always be paid in cash.

With an HDB housing loan, you can borrow up to 75% of the lower of the resale price or value (for resale applications from 20 August 2024). The other 25% can be paid with CPF Ordinary Account savings, CPF housing grants and/or cash. With a bank loan, the limit is also 75%, but at least 5% of the lower of price or value must be cash; the remaining 20% can come from CPF. If the bank loan runs longer than 25 years for an HDB flat or past age 65, the limit falls to 55% with at least 10% in cash.

So the cash you need upfront is COV plus whatever part of the downpayment your CPF and grants cannot cover (plus the bank's minimum cash, if any). The S$5,000 Option to Purchase deposit counts towards this. This calculator assumes you take the maximum loan; HDB may lend less if the remaining lease does not cover the youngest buyer to age 95, or under the 30% mortgage servicing ratio.

## FAQs
### Can I use CPF to pay cash over valuation?
No. CPF savings and housing loans are capped at the lower of the price or HDB's valuation, so a S$20,000 COV must be paid entirely in cash, on top of any cash downpayment.

### How much cash do I need for a S$650,000 resale flat valued at S$630,000?
With an HDB loan and enough CPF, only the S$20,000 COV: the loan covers S$472,500 (75% of S$630,000) and CPF can pay the S$157,500 downpayment. With a bank loan you also need 5% of S$630,000 (S$31,500) in cash, so S$51,500 in total.

### What is the downpayment for an HDB resale flat in 2026?
25% of the lower of the resale price or valuation. With an HDB loan it can all be CPF or grants; with a bank loan at least 5% must be cash and the other 20% can be CPF.

### When do I pay COV?
The S$1 to S$1,000 option fee and the exercise fee (up to S$5,000 in total) are paid in cash when you get and exercise the Option to Purchase. The rest of the COV is paid to the seller as part of the initial payment, after HDB approves the resale application.

## Sources
- [HDB: Housing loan from HDB (75% LTV, income ceilings)](https://www.hdb.gov.sg/buying-a-flat/flat-grant-and-loan-eligibility/housing-loan/housing-loan-from-hdb)
- [HDB: Mode of financing for a resale flat](https://www.hdb.gov.sg/buying-a-flat/resale-flats/process-for-buying-a-resale-flat/resale-flat-planning/mode-of-financing)
- [HDB: Approval of resale application (initial payment)](https://www.hdb.gov.sg/buying-a-flat/resale-flats/process-for-buying-a-resale-flat/resale-flat-application/approval-of-application)
- [MAS: Loan tenure and loan-to-value limits](https://www.mas.gov.sg/regulation/explainers/new-housing-loans/loan-tenure-and-loan-to-value-limits)
- [IRAS: Buyer's Stamp Duty rates](https://www.iras.gov.sg/taxes/stamp-duty/for-property/buying-or-acquiring-property/buyer's-stamp-duty-(bsd))

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Source: Lookup (https://lookup.sg) · Data as of October 2026 · Listings compiled from Singapore government open data (data.gov.sg), OneMap and Overture Maps places. Free listings never show contact details; contact details appear only on Lookup Verified listings.