Mortgage Calculator Singapore

What Is a Mortgage Calculator Singapore?

A Mortgage Calculator Singapore estimates the monthly instalment and total interest for a housing loan.

It uses the property price, downpayment, annual interest rate and loan tenure entered. It can help you compare different loan amounts and repayment periods before speaking to HDB or a bank.

The calculator displays:

• estimated monthly instalment;
• calculated loan amount; and
• total interest over the selected tenure.

The result is an estimate. It is not a loan offer, eligibility decision or approval.

How to Use the Mortgage Calculator

1. Enter the Property Price

Enter the agreed or expected property purchase price in Singapore dollars.

Use the full price before subtracting the downpayment. Do not enter only the amount you plan to borrow.

If you are still reviewing the overall cost of a purchase, the Property Calculator Singapore covers broader property-planning figures. A mortgage calculation focuses only on the housing loan repayment.

2. Enter the Downpayment

Enter the amount that will be paid upfront instead of financed through the mortgage.

The calculator subtracts this amount from the property price:

Loan amount = Property price − Downpayment

For example, a property price of S$800,000 with a S$200,000 downpayment produces a loan amount of S$600,000.

The calculator does not confirm whether the downpayment meets current financing rules. The Loan To Value Ratio Calculator Singapore can separately compare a loan amount with the property value.

3. Select the Loan Type

Select the loan type that best matches the financing you want to model.

The HDB Concessionary Loan option shows 2.60% as the calculator’s default interest rate. From 1 July to 30 September 2026, the official HDB concessionary housing-loan rate remains 2.6% per year, as announced by HDB.

Bank housing-loan rates depend on the lender and package. They may be fixed, floating or linked to a reference rate.

Selecting a loan type does not confirm that you qualify for that loan.

4. Check the Annual Interest Rate

Enter the annual interest rate as a percentage.

For example, enter 2.6 for 2.6% per year. Do not enter 0.026.

Use the actual offered rate when one is available. The calculator assumes that the entered rate remains unchanged throughout the complete tenure.

This assumption makes the calculation easy to understand, but an actual bank-loan rate may change after a fixed-rate period or when its reference rate changes.

5. Enter the Loan Tenure

Enter the repayment period in years.

A longer tenure normally lowers the monthly instalment because the repayment is spread across more months. However, it generally increases the total interest paid.

A shorter tenure normally creates a higher monthly instalment but reduces the time during which interest accumulates.

The calculator does not check age, remaining property lease or maximum permitted tenure.

Mortgage Formula Used

The calculator first finds the loan principal:

P = Property price − Downpayment

The estimated monthly instalment uses a standard reducing-balance repayment formula:

Monthly instalment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)

Where:

• P is the loan amount;
• r is the monthly interest rate; and
• n is the total number of monthly payments.

The monthly rate is:

Annual interest rate ÷ 12

The number of payments is:

Loan tenure in years × 12

Total interest is calculated as:

Total interest = Monthly instalment × Number of payments − Loan amount

This formula assumes equal monthly payments and an unchanged interest rate.

Mortgage Calculation Example

Suppose a buyer enters:

• Property price: S$800,000
• Downpayment: S$200,000
• Interest rate: 2.6% per year
• Loan tenure: 25 years

First, calculate the loan amount:

S$800,000 − S$200,000 = S$600,000

Monthly interest rate:

2.6% ÷ 12 = approximately 0.2167% per month

Number of monthly payments:

25 × 12 = 300 payments

After applying the reducing-balance formula, the estimated monthly instalment is approximately:

S$2,722.02

Estimated total repayment:

S$2,722.02 × 300 = approximately S$816,606

Estimated total interest:

S$816,606 − S$600,000 = approximately S$216,606

Small differences may appear because of instalment rounding.

Costs Not Included in the Mortgage Result

The result does not include the cash or CPF amount needed for stamp duties. The Stamp Duty Calculator Singapore estimates supported Buyer’s Stamp Duty and Additional Buyer’s Stamp Duty separately.

The mortgage calculation also excludes:

• legal and conveyancing fees;
• valuation charges;
• insurance premiums;
• bank processing fees;
• late-payment charges;
• renovation costs;
• maintenance fees; and
• penalties or costs connected with refinancing.

For an uncompleted property, the full loan may not be released immediately. The Progressive Payment Calculator Singapore estimates payments as different construction stages are completed.

Mortgage Payments and Ownership Costs

A manageable monthly mortgage does not mean the property has no other recurring expenses.

Property owners may also need to pay property tax, maintenance charges, insurance and repair costs. The Property Tax Calculator Singapore estimates property tax separately using Annual Value and occupancy type.

For an investment property, mortgage instalments are also different from rental returns. The Rental Yield Calculator Singapore compares rent with property value and allows for vacancy and operating expenses.

Review these costs separately instead of treating the mortgage instalment as the complete cost of owning a property.

What the Calculator Cannot Decide

The calculator cannot determine:

• HDB or bank-loan eligibility;
• the maximum amount you may borrow;
• required downpayment;
• applicable Loan-to-Value limit;
• Mortgage Servicing Ratio;
• Total Debt Servicing Ratio;
• CPF usage limits;
• suitable loan tenure; or
• future interest-rate changes.

It also does not compare the detailed terms of different bank packages.

An actual lender may use an assessment rate, apply income adjustments or approve a smaller loan amount. Always confirm the final terms before making a property commitment.

Common Mortgage Calculation Mistakes

Do not enter the downpayment as the loan amount. The calculator deducts the downpayment from the property price automatically.

Use an annual percentage in the interest field. Entering 0.026 instead of 2.6 will produce the wrong result.

Do not assume that a low monthly instalment always means a cheaper loan. A longer tenure can substantially increase total interest.

Check whether a quoted bank rate applies for the entire tenure or only an initial period. The calculator keeps the entered rate constant.

Other Singapore-focused planning tools are available through the Calculator Singapores homepage, but each result should be reviewed according to its own purpose and limitations.

Frequently Asked Questions

Q1: What does this mortgage calculator calculate?

A: It calculates the loan amount, estimated monthly instalment and total interest based on the information entered.

Q2: How is the loan amount calculated?

A: The calculator subtracts the downpayment from the property price.

Q3: What HDB interest rate does the calculator use?

A: The HDB Concessionary Loan option currently shows 2.60%. Check that the displayed rate still matches the period and loan terms that apply to you.

Q4: Can I enter a bank-loan interest rate?

A: Yes. Enter the annual rate offered by the bank, but remember that an actual floating or repriced rate may change.

Q5: Does the calculator check loan eligibility?

A: No. It does not assess income, existing debts, age, credit history, MSR, TDSR or HDB eligibility.

Q6: Does the result include stamp duty and legal fees?

A: No. These property-purchase costs must be calculated and budgeted separately.

Q7: Is the monthly instalment an official repayment amount?

A: No. It is an estimate based on a constant interest rate. Confirm the actual repayment schedule with HDB or your lender.