Singapore Property Mortgage Calculator

Estimate your monthly housing loan payments, total interest, and see a year-by-year breakdown for your property in Singapore.

Enter your property price to see an estimated loan amount, or input your desired loan amount directly. Adjust the loan tenure and interest rate to see how they impact your payments.

Understanding Your Singapore Property Mortgage

What is a Property Mortgage?

A property mortgage, or housing loan, is a loan taken from a financial institution (like a bank) to finance the purchase of a property. The property itself typically serves as collateral for the loan. You repay the loan, plus interest, in regular instalments over an agreed period, known as the loan tenure.

Key Factors Affecting Your Mortgage

  • Loan Amount (Principal): The total sum borrowed. This is usually a percentage of the property's price, determined by the Loan-to-Value (LTV) ratio. Our calculator assumes a 75% LTV if you input the property price, meaning a 25% downpayment.
  • Interest Rate: The percentage charged by the lender on the loan amount. Rates can be fixed or floating (variable). Higher rates mean higher monthly payments and more total interest paid.
    Note: The interest rate used in this calculator is for estimation purposes. Actual rates vary between banks and depend on market conditions and individual eligibility. It's recommended to check with major banks in Singapore or consult a reputable mortgage broker for the latest and most suitable rates for your situation.
  • Loan Tenure: The duration over which you repay the loan. Longer tenures result in lower monthly payments but higher total interest paid over the life of the loan. In Singapore, tenures can go up to 30-35 years, subject to age and property type.

Fixed vs. Floating Interest Rates

Fixed Rates: The interest rate remains constant for a set period (e.g., 2-5 years), offering predictable monthly payments. After this period, it usually converts to a floating rate.

Floating (Variable) Rates: These rates are typically pegged to a benchmark plus a spread. Common benchmarks in Singapore include SORA (Singapore Overnight Rate Average). Monthly payments can fluctuate as the benchmark rate changes. They might start lower than fixed rates but carry more uncertainty. For more information on SORA, you can visit the Monetary Authority of Singapore (MAS) website.

Choosing between fixed and floating rates depends on your risk appetite and market outlook. This calculator allows you to input any rate to see its impact.

Mortgage FAQs for Singapore Property Buyers

What is a typical loan tenure for a property mortgage in Singapore?

Loan tenures for residential properties in Singapore can go up to 30 years for HDB flats and up to 35 years for private properties, subject to the borrower's age (typically up to age 65, or sometimes 70, for the loan to be fully paid off) and the remaining lease of the property. Shorter tenures mean higher monthly payments but less total interest paid over the life of the loan. Our calculator defaults to 25 years, a common choice.

How does the Total Debt Servicing Ratio (TDSR) affect my mortgage application?

The Total Debt Servicing Ratio (TDSR) framework in Singapore limits the amount individuals can borrow. Your total monthly debt obligations (including the prospective mortgage, car loans, personal loans, credit card balances, etc.) cannot exceed 55% of your gross monthly income. Banks use this to assess your borrowing capacity. This calculator helps estimate the monthly mortgage payment, which is a key component in your TDSR calculation.

Can I use my CPF (Central Provident Fund) for mortgage payments in Singapore?

Yes, for properties in Singapore, you can typically use your CPF Ordinary Account (OA) savings to pay for the monthly mortgage instalments, after setting aside any applicable minimum sums (like the Basic Retirement Sum for those below 55). There are limits to how much CPF can be used, especially for second or subsequent properties, or if the remaining lease of the property is short. It's advisable to check the latest CPF Board guidelines.

What's the difference between an In-Principle Approval (IPA) and a Letter of Offer (LO)?

An In-Principle Approval (IPA) or Approval-in-Principle (AIP) is an initial indication from a bank of how much they are willing to lend you, based on a preliminary assessment of your financial situation. It's not a guarantee of a loan. A Letter of Offer (LO) is a formal, legally binding contract from the bank detailing the terms and conditions of the actual housing loan, issued after a full credit assessment and property valuation.