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  1. Home
  2. Home Loan
  3. Mortgage Calculator

Mortgage Calculator

Shopping around for the best home loan package or thinking about refinancing your current one?

Budget your monthly expenses properly and find out how much you need to set aside for your monthly repayments with our Mortgage Calculator.

What are you here for?
What type of property are you buying?
Property Status

I’m not sure. Help me calculate my monthly repayments based on the best available interest rate.

Monthly Repayment

S$ __

Looks like you have not used the calculator yet. Please tell us a few details about yourself and the property.

Best Fixed Rate Package

Monthly Instalments Year 1

Interest Rate Year 1

NaN%

Lock-in Period

year

Rate Type

Fixed

Best Floating Rate Package

Monthly Instalments Year 1

Interest Rate Year 1

NaN%

Lock-in Period

year

Rate Type

Floating

Rates and fees as of January 27

These home loan recommendations are based on the information entered above. The results do not include other factors such as lock-in period. To learn more about your true savings, get in touch with one of our mortgage specialists.

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A MoneySmart Mortgage Specialist will be contacting you to help you secure the best home loan in town.

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A MoneySmart Mortgage Specialist will be contacting you to help you secure the best home loan in town.

Other Calculators

Stamp Duty Calculator

What are the fees involved in purchasing a property?

TDSR Calculator

What's the maximum amount I can borrow to fund my dream home?

Refinancing Calculator

How much can I save by refinancing my home loan?

Frequently Asked Questions

How to calculate your mortgage payment?

Input your home loan amount and the interest rate of your mortgage loan in the calculator above to see how much you will be paying every month.

What is the loan to income ratio for a home mortgage?

In Singapore, the loan-to-income ratio for a home mortgage is regulated by the Total Debt Servicing Ratio (TDSR) framework. All your debt obligations must not exceed 60% of your income. This includes your mortgage loans, credit card debts, personal loans, and even instalments for appliances owed. However, for refinancing higher limits may be given by the banks. It differs from bank to bank.

How much maximum loan can I qualify for?

For a HDB Concessionary Loan, you can borrow up to 90% of your property purchase price. For a bank loan, the maximum loan amount depends on the number of housing loans you currently have. You can borrow up to 75% of property purchase price for the first housing loan, 45% for the second housing loan, and 35% for the third housing loan.

What is the difference between fixed and floating interest rate?

Fixed rate packages maintain the same interest rate over a given length of time (typically 1 to 5 years depending on the package). This means that your loan package has a locked-in rate that won’t change regardless of market conditions. Once the lock-in period lapses, fixed rate packages automatically convert to floating rates. Meanwhile, floating rate packages have interest rates that fluctuate on a daily basis according to rise and fall of SIBOR and SOR rates. These packages typically have lower interest rates at the outset compared to fixed rate packages, with SIBOR and SOR movements determining how high or low the rate will be. Floating rates can also be pegged to board rates and fixed deposit rates not just SIBOR/SOR.

What is the maximum loan tenure?

The maximum loan tenure is 30 years for HDB flats and 35 years for private properties or Executive Condominiums (EC). The length of your loan tenure affects the percentage of your property’s price you’re able to loan. To qualify for the maximum loan, your loan tenure cannot exceed 30 years (for private properties and ECs) and 25 years (for HDB flats). The borrower’s age also cannot exceed 65 at the end of the loan tenure. Violating either of these conditions will result in a 20% reduction in your loan amount.

What is mortgage insurance?

Mortgage insurance is a type of insurance product that protects your mortgage loan in the event that something untoward happens to you. A lump sum will be paid out so that you or your family can use that money to pay off your home loan. It is also known as mortgage term reducing assurance (MRTA). For HDB, it is known as Home Protection Scheme (HPS) and compulsory to purchase if you are using CPF for the property and loan. In private property market, MRTA is optional.
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