Mortgage Calculator Singapore
Monthly Payment: $2,845.22
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| Monthly | Total | |
| Mortgage Payment | $2,845.22 | $853,566.00 |
| Property Tax | $106.67 | $32,000.00 |
| Home Insurance | $66.67 | $20,000.00 |
| Maintenance Fee | $300.00 | $90,000.00 |
| MCST Fees | $200.00 | $60,000.00 |
| Total Monthly Payment | $3,518.56 | $1,055,566.00 |
| Total Interest Paid | $213,566.00 | |
| Loan Amount | $640,000.00 | |
The Mortgage Calculator Singapore helps you estimate monthly mortgage payments for home loans in Singapore. This calculator includes Singapore-specific factors like property tax rates, MCST fees, and typical insurance costs to give you a comprehensive view of your monthly housing expenses.
Singapore Mortgage Basics
In Singapore, home loans are available for both HDB flats and private properties. The mortgage landscape is regulated by the Monetary Authority of Singapore (MAS), which sets guidelines for loan-to-value (LTV) ratios and Total Debt Servicing Ratio (TDSR) requirements.
Mortgage Calculator Components
A Singapore mortgage calculation typically includes the following key components:
- Home Price—the total purchase price of the property in Singapore Dollars (SGD).
- Down Payment—the initial payment, typically 20-25% for private properties and 10-20% for HDB flats.
- Loan Term—the duration of the mortgage, commonly 25-30 years in Singapore.
- Interest Rate—the annual interest rate, which can be fixed or floating (SIBOR/SORA-based).
Singapore Property Financing Rules
Loan-to-Value (LTV) Limits
Singapore has strict LTV limits based on the number of outstanding housing loans:
- First Property—Up to 75% LTV for private properties, 90% for HDB flats
- Second Property—Up to 45% LTV for private properties, 50% for HDB flats
- Third and Subsequent—Up to 35% LTV
Total Debt Servicing Ratio (TDSR)
The TDSR framework requires that total monthly debt obligations do not exceed 60% of gross monthly income. This includes:
- Mortgage payments
- Credit card payments
- Car loans
- Personal loans
- Other debt obligations
Interest Rate Types in Singapore
Fixed Rate Mortgages
Fixed rates provide certainty with the same interest rate throughout the loan term or for a specific period (typically 2-5 years). These are less common in Singapore but offer payment predictability.
Floating Rate Mortgages
Most Singapore mortgages use floating rates tied to:
- SIBOR (Singapore Interbank Offered Rate)—Traditional benchmark rate
- SORA (Singapore Overnight Rate Average)—New benchmark replacing SIBOR
- Bank's Board Rate—Internal rate set by individual banks
Additional Costs in Singapore
Property Tax
Singapore property tax rates vary based on property type and annual value:
- Owner-occupied residential—0% to 16% progressive rates
- Non-owner occupied residential—10% to 20%
- Commercial properties—10%
Stamp Duty
Buyer's Stamp Duty (BSD) and Additional Buyer's Stamp Duty (ABSD) apply:
- BSD—Up to 4% of property value
- ABSD—Additional rates for foreign buyers and multiple property owners
Maintenance and Management Fees
Condominiums and private properties typically have:
- Maintenance fees—For upkeep of common areas
- MCST (Management Corporation Strata Title) fees—For building management
- Sinking fund contributions—For major repairs and improvements
CPF Housing Grants and Schemes
Singapore citizens and permanent residents can use CPF (Central Provident Fund) savings for property purchases:
- CPF Ordinary Account—Can be used for down payment and monthly payments
- Housing grants—Various grants available for first-time buyers
- CPF Housing Loan—Alternative to bank loans with different terms
How to Use the Calculator
To use the Singapore Mortgage Calculator:
- Enter the property price in Singapore Dollars
- Specify your down payment percentage or amount
- Set the loan term (typically 25-30 years)
- Enter the current interest rate
- Include additional costs like property tax and maintenance fees
- Click "Calculate" to see your monthly payment breakdown
The calculator will show you the monthly mortgage payment, total interest paid, and total monthly housing costs including taxes and fees.
Important Considerations
When planning your mortgage in Singapore, consider:
- TDSR compliance—Ensure total debt doesn't exceed 60% of income
- Interest rate changes—Floating rates can increase monthly payments
- Refinancing options—Review and compare rates periodically
- Early repayment—Some loans have prepayment penalties
This calculator provides estimates based on the information provided. Actual loan terms may vary based on your credit profile, income, and lender requirements. Always consult with licensed mortgage brokers or banks in Singapore for personalized advice.
Related calculators: HDB Loan Calculator Singapore, Property Affordability Calculator Singapore, Stamp Duty Calculator Singapore