Mortgage Calculator
Work out your monthly home-loan payment and the total upfront cost of buying an HDB flat or condo in Singapore — down payment, Buyer's Stamp Duty and legal fees — in Singapore dollars. Free, no sign-up.
Purchase Details
A first housing loan is capped at 75% of the value, so 25% down. With an HDB loan that 25% can be all CPF; with a bank loan at least 5% must be cash.
The HDB concessionary loan is a fixed 2.6%. Bank loans are pegged to SORA or a short fixed rate — sometimes below 2.6%, but variable. Enter the rate you expect to pay on average.
BSD is tiered: 1% / 2% / 3% / 4% and up across price bands. It works out to roughly 2% of a S$600k flat and ~3% of a S$1.5M property. Add ABSD (20%+) if this is not your first home.
Conveyancing lawyer (about S$2,500–3,000), a valuation fee, and for an HDB resale the HDB admin fee and any agent commission. Often under 1% of the price.
Your Mortgage
Monthly Payment
$2,042
$450,000 loan · 2.6% · 25 years
💬 In Plain Words
To buy a home priced at $600,000 with a 25% deposit, you borrow $450,000 and pay about $2,042 a month for 25 years. Over the full term you pay $162,454 in interest. On the day you buy, you need $166,200 up front — the down payment plus Buyer's Stamp Duty and fees. Much of it can come from your CPF Ordinary Account, but BSD must be paid in cash first and reimbursed.
Cash Needed at Purchase
Estimate for educational purposes. Not included: ABSD if you already own property, mortgage and fire insurance the lender requires, the exact tiered BSD, and the accrued CPF interest you must refund to your CPF account when you sell. The 55% TDSR and 30% MSR limits also cap how much you can borrow. Assumes one level-payment loan at a constant rate — a bank loan's rate moves. Confirm the figures with your lawyer and lender before you commit.
How the Mortgage Payment Is Worked Out
👋 Simple Explanation
A mortgage is a loan secured on the property. You put down a deposit, borrow the rest, and repay it with interest over 20 to 30 years. Early on, most of each payment is interest; later, most is principal. Paying a little extra each month, or making a lump sum when you can, cuts the total interest sharply because it shortens the term.
Payment = L × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]
Where L = loan amount, r = monthly interest rate (annual ÷ 12), and n = the number of monthly payments (term in years × 12).
Costs and Rules When Buying a Home in Singapore
The big upfront items are the 25% down payment (a first housing loan is capped at 75% loan-to-value), Buyer's Stamp Duty (tiered 1%/2%/3%/4% and up, roughly 2% of a S$600k flat), and — if you already own a home — Additional Buyer's Stamp Duty (20% for a citizen's second property, 60% for a foreigner). Then the conveyancing lawyer (about S$2,500–3,000), a valuation fee, and HDB admin and agent fees on a resale. Your borrowing is also capped by the 55% Total Debt Servicing Ratio (30% Mortgage Servicing Ratio for an HDB flat). Much of the cost can come from your CPF Ordinary Account, but you refund the CPF used plus accrued interest when you sell. Add every cost up before you decide how much you need saved.
Frequently Asked Questions
- What does it cost to buy a home in Singapore besides the down payment?
- The main extra cost is Buyer's Stamp Duty (BSD): 1% on the first S$180,000, 2% on the next S$180,000, 3% on the next S$640,000, 4% on the next S$500,000, then 5% and 6% on higher slices — for a S$600,000 flat that is about S$12,600. If you already own a home, Additional Buyer's Stamp Duty (ABSD) applies on top (20% for a citizen's second property, 60% for a foreigner). Then legal fees of roughly S$2,500–3,000, a valuation fee, and for an HDB resale the HDB admin fees and any agent's commission. BSD can be paid from CPF and reimbursed, but you must have the cash first.
- How big a down payment do I need in Singapore?
- For a first housing loan the limit is 75% of the value, so you need 25% as a down payment. With an HDB concessionary loan the 25% can be entirely from your CPF Ordinary Account. With a bank loan, at least 5% of the price must be in cash and the other 20% can be CPF. Your total monthly debt repayments must also stay within the 55% Total Debt Servicing Ratio (30% Mortgage Servicing Ratio for an HDB flat or EC).
- HDB loan or bank loan?
- The HDB concessionary loan is a fixed 2.6% (0.1% above the CPF Ordinary Account rate) and only for HDB flats — simple and stable, with a lower cash down payment. A bank loan is pegged to SORA or offered as a short fixed rate, often lower than 2.6% when rates are low but variable, and it requires 5% cash down. You can refinance from HDB to a bank later, but not back.