Mortgage Calculator

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.

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.

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.

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.

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.

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.