Mortgage Calculator for Singapore Home Loan

Mortgage Calculator for Singapore Property

Estimate your maximum loan amount with our mortgage calculator for your next home loan. Get a AIP (Approval In Principle) with our partner banks to confirm the loan amount and give you more clarity when budgeting your purchase. Not sure if you are getting the best package for your loan? Tell us what you are offered and we will compare for you.

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Since 2000, the Singapore government has introduced a series of measures to cool the property market. While these measures are directed at speculative buying, it has also created some confusion for genuine home buyers. MoneyIQ has created this mortgage calculator to help home buyers create their own budget for property purchase. It includes the Total Debt Servicing Ratio (TDSR), reduced Loan to Valuation (LTV), Mortgage Servicing Ratio (MSR) and Stamp Duty calculation. While we have done our best to incorporate the measures into the calculator, buyers are strongly advised to seek a Approval In-Principle (AIP) before committing.

How to use

Example 1: Joe wants to buy a resale completed private property. This will be his second home as he has no intention to dispose away his current home. He is still servicing his current mortgage. With reference to the mortgage calculator, he will input – “Private Property (Condo/ Apartment/ Landed)” – “Completed” – “I have one existing home loan

TDSR Calculation Joe draws a fixed monthly income of $8,000, services an existing home loan of $1,500, a car loan of $1,000 and credit card loan of $1,000 at the point of loan application. He is 40 years old. He likes to take a 20 years loan. With reference to the mortgage calculator, he will input

AgeMonthly Income (Fixed)Monthly Income (Variable)Monthly Expenses
Borrower A408,00003,500

Maximum Tenure Calculation The calculator automatically show that the maximum tenure is 25 years when the age is 40 years old. In this example, the loan tenure will be 20.

Maximum LTV Calculation Joe is likely to purchase the property at $800,000. Enter $800,000 for the price of property.

Results The calculator will automatically show that his maximum LTV is 28% of the purchase price. Since this is his 2nd home loan, the minimum cash downpayment will be 25%. Based on the purchase price of $800,000, the stamp duty is $18,600.

What’s next?

This Mortgage Calculator is a budgeting tool to help home buyers construct a buying plan when purchasing a Singapore property. It is not a substitute for credit approval. To ensure that you get the required credit facility, you should do a Approval In-Principle Approval (AIP). You can email us at contact@moneyiq.sg and we will link you up with a banker to assist you on the IPA. The service is free.

Best (Fixed Rate) Home Loans for Private Properties (New Purchase)

When choosing a mortgage, will a fixed or variable rate best serve your needs? Fixed-rate mortgages are what they sound like: the payment rates are set at the beginning and do not change for the entire course of the term. If the market rates go up you are protected. However, if rates go down you do not get to take advantage of these savings.

Bank of China

1.95%

Fixed

FIRST YEAR

Year 2: 2.00% Fixed

Year 3: 2.00% Fixed

3 years Lock In

Thereafter rates: 3M SIBOR + 0.70%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

Updated on 20/9/2018

Bank of China

1.90%

Fixed

FIRST YEAR

Year 2: 1.90% Fixed

Year 3: 3M SIBOR + 0.70%

2 years Lock In

Thereafter rates: 3M SIBOR + 0.70%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants 

MoneyIQ Cash Rewards

Updated on 20/9/2018

DBS

1.95%

Fixed

FIRST YEAR

Year 2: 1.95% Fixed

Year 3: DBS FHR + 1.95%

2 years Lock In

Thereafter rates: DBS FHR + 1.95%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants 

MoneyIQ Cash Rewards

Updated on 30/8/2018


Actual offers from banks are subject to change without prior notice and may not include all the features mentioned above.

Best (Variable Rate) Home Loans for Private Properties (New Purchase)

Variable interest rates can change, but they typically start at a rate lower than the fixed-rate alternative. Rates will follow movements in line with the reference rate. The reference rate may be determined by the banks or benchmarked against a publicly available indicator like SIBOR or SOR rates.

SCB

1.70%

SCB FDR + 0.98%

FIRST YEAR

Year 2: SCB FDR + 0.98%

Year 3: SCB FDR + 0.98%

2 years Lock In

Thereafter rates: SCB FDR + 0.98%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

MAYBANK

1.72%

SRFR2 - 2.78%

FIRST YEAR

Year 2: SRFR2 - 2.75%

Year 3: SRFR2 - 2.72%

3 years Lock In

Thereafter rates: SRFR2 - 2.10%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards

DBS

1.75%

DBS FHR + 1.55%

FIRST YEAR

Year 2: DBS FHR + 1.55%

Year 3: DBS FHR + 1.55%

2 years Lock In

Thereafter rates: DBS FHR + 1.55%

See our full calculator

No mark up on legal fee. Option to use lawyer on bank's panel. 

Free mortgage advisory with our consultants

MoneyIQ Cash Rewards


Actual offers from banks are subject to change without prior notice and may not include all the features mentioned above.


More Calculators

Compare Best Home Loans

Use this mortgage calculator to compare your monthly payments from different banks in Singapore. See the breakdown and details like interest paid and balance principal.


Affordability Calculator

MIQ affordability calculator helps you determine the maximum loan amount you can borrow under the regulations. The calculation will be based upon your income, age, Total Debt Servicing Ratio (TDSR) and Loan to Value (LTV) restriction.

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HDB vs Bank Loan Calculator

Use this HDB loan calculator to determine whether a HDB home loan is better than a bank loan. This calculator also allows user to see how much more they have to pay if interest rate increases.

Go to HDB vs Bank Loan Calculator


Progressive Payment Calculator

The progressive payment calculator helps you determine the monthly payment for a uncompleted project.

Go to Progressive Payment Calculator


Refinance Savings Calculator

Use this refinance savings calculator to help you decide if you should refinance. The refinance calculator estimates the monthly payment and total interest.

Go to Refinance Savings Calculator


TDSR Calculator

Use this TDSR calculator to determine your maximum loan under the TDSR restriction. The calculation will be based upon your income, age and debt obligations.

Go to TDSR Calculator


Contact Us

If you have any questions on the calculator, please feedback to us using the form below or email us at contact@moneyiq.sg

TERMS OF USE The computation above is for indicative purposes only and is not an offer of credit facilities. Credit facilities are granted at the discretion of the Bank. MoneyIQ accepts no liability for errors or omissions, nor for any loss arising from use of or reliance on the calculation herein. The maximum loan amount is subjected to prevailing regulatory requirements and the bank.