Home Loan (Mortgage) Results at a Glance: Quick Reference Table
Sometimes you only need a ballpark figure. This page lists home loan (mortgage) results for a range of common inputs, so you can see the pattern at a glance.
| Inputs | Monthly instalment | Total interest | Total repaid |
|---|---|---|---|
| Loan amount: 800,000, Interest rate: 2.8, Loan tenure: 30 | S$3,287.16 | S$383,376.00 | S$1,183,376.00 |
| Loan amount: 400,000, Interest rate: 2.8, Loan tenure: 30 | S$1,643.58 | S$191,688.00 | S$591,688.00 |
| Loan amount: 600,000, Interest rate: 2.8, Loan tenure: 30 | S$2,465.37 | S$287,532.00 | S$887,532.00 |
| Loan amount: 1,000,000, Interest rate: 2.8, Loan tenure: 30 | S$4,108.94 | S$479,220.00 | S$1,479,220.00 |
| Loan amount: 1,200,000, Interest rate: 2.8, Loan tenure: 30 | S$4,930.73 | S$575,063.99 | S$1,775,063.99 |
| Loan amount: 1,600,000, Interest rate: 2.8, Loan tenure: 30 | S$6,574.31 | S$766,751.99 | S$2,366,751.99 |
How these were worked out
Monthly instalment = P × r ÷ (1 − (1 + r)^−n).
Property is the largest purchase most Singaporeans make, and stamp duties, loan limits and cash requirements are front-loaded. Small mistakes in these figures can mean a shortfall at completion, so it pays to run the numbers before you commit to an option to purchase.
The Total Debt Servicing Ratio limits monthly debt repayments to 55% of gross monthly income for any property loan, and the Mortgage Servicing Ratio limits the housing instalment to 30% of income for HDB flats and new executive condominiums. Banks apply a medium-term interest rate in these tests rather than the rate you will actually pay.
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.
Most Singaporeans live in HDB flats, which can be financed with an HDB concessionary loan at 0.1% above the CPF Ordinary Account rate or with a bank loan. Private property must be financed with a bank loan, and banks offer fixed, floating and SORA-pegged packages.
Tips
- Using CPF for housing reduces what is left for retirement, and you must refund the amount used plus accrued interest when you sell.
- HDB loans are capped at 25 years and must be fully repaid by age 65.
- Stamp duty must be paid within 14 days of signing, so have the cash ready before you exercise the option.
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%.
For your exact numbers, use the Home Loan (Mortgage) Calculator.
Run your own numbers: Home Loan (Mortgage) Calculator