S$750,000 Home Loan: Monthly Repayment and Total Interest
A S$750,000 home loan at 2.8% over 30 years costs S$3,081.71 a month. Over the full term you repay S$1,109,415.00, of which S$359,415.00 is interest.
Repayment by tenure
| Tenure | Monthly | Total interest |
|---|---|---|
| 20 years | S$4,084.79 | S$230,350.50 |
| 25 years | S$3,479.06 | S$293,717.62 |
| 30 years | S$3,081.71 | S$359,415.00 |
If rates change
| Rate | Monthly instalment |
|---|---|
| 2% | S$2,772.15 |
| 2.5% | S$2,963.41 |
| 3% | S$3,162.03 |
| 3.5% | S$3,367.84 |
| 4% | S$3,580.61 |
| 4.5% | S$3,800.14 |
Income needed
Under the 30% Mortgage Servicing Ratio for HDB flats, an instalment of S$3,081.71 needs a gross household income of at least S$10,272.36 a month. Under the 55% TDSR, it needs at least S$5,603.11 with no other debts. Banks test affordability at a higher stress-test rate, so the real requirement is higher for bank loans.
Things to check
- Stamp duty is based on the purchase price or market value, whichever is higher.
- A second housing loan drops the LTV limit sharply and raises the minimum cash downpayment to 25%.
- Stamp duty must be paid within 14 days of signing, so have the cash ready before you exercise the option.
- Seller's Stamp Duty can wipe out the gains on a quick resale, so check your holding period before selling.
Background
Stamp duties are paid upfront. Buyer's Stamp Duty applies to every purchase at tiered rates up to 6%, while ABSD depends on the buyer's residency status and how many residential properties they already own. Sellers who dispose of a property within the holding period pay Seller's Stamp Duty.
Beyond the price, buyers should budget for legal fees, valuation, home insurance, renovation and furnishing. Running the figures in advance helps you decide how much cash to hold back and whether a smaller loan or longer tenure makes more sense.
Singapore's property market is shaped by cooling measures introduced since 2009, including Additional Buyer's Stamp Duty, loan-to-value limits and debt servicing ratios. These rules are adjusted when the market runs hot, so the numbers you see today may differ from what friends paid a few years ago.
Related calculations
- Rental Yield Calculator: Measures the return from rent before and after costs such as property tax, maintenance fees and agent fees.
- Home Loan Refinancing Calculator: Compares your current mortgage with a new rate to show the monthly saving and how long switching costs take to recover.
- Property Downpayment Calculator: Splits the downpayment into cash and CPF and shows the remaining loan.
- Buyer's Stamp Duty (BSD) Calculator: Calculates Buyer's Stamp Duty on a Singapore residential property using the tiered rates from 1% to 6%.
Model your own loan in the S$750,000 Home Loan Repayment Calculator.
Run your own numbers: S$750,000 Home Loan Repayment Calculator