Mortgage Calculator

Singapore mortgage repayments are calculated using a standard amortisation formula that factors in the loan principal, interest rate, and loan tenure. Most Singapore home loans use a floating rate structure, where the interest rate is pegged to benchmarks like SORA (Singapore Overnight Rate Average) plus a bank spread. For new launch purchases, the progressive payment scheme means your mortgage only begins in full after the property receives its Temporary Occupation Permit (TOP).

During the construction period of a new launch, you make progressive payments at each milestone — typically 5-10% of the purchase price per stage. Your actual mortgage begins when the remaining balance (typically 75% if using maximum LTV) converts to a full home loan at TOP. This means your monthly financial commitment during construction is significantly lower than the eventual mortgage payment, giving you time to build savings or grow your income.

Three key regulatory frameworks govern mortgage borrowing in Singapore. The Loan-to-Value (LTV) ratio caps the maximum loan at 75% of the property value for your first housing loan, meaning you need at least 25% down payment (minimum 5% in cash). The Total Debt Servicing Ratio (TDSR) ensures your total monthly debt obligations do not exceed 55% of your gross monthly income, protecting borrowers from over-leveraging.

For HDB and Executive Condos, the Mortgage Servicing Ratio (MSR) further limits housing loan repayments to 30% of gross monthly income. When using our calculator, factor in these limits to understand your actual borrowing capacity. Banks also stress-test your application at higher interest rates (typically 4% for residential property) to ensure you can handle rate increases.