1. What is a Mortgage Loan Calculator for Singapore?

Definition: This calculator computes monthly mortgage payments for Singapore properties based on loan amount, interest rate, and loan term.

Purpose: It helps homebuyers and property investors estimate their monthly mortgage obligations and total loan costs.

2. How Does the Calculator Work?

The calculator uses the standard mortgage formula:

Where:

• \( M \) — Monthly payment (SGD)
• \( P \) — Loan principal amount (SGD)
• \( r \) — Monthly interest rate (annual rate ÷ 12)
• \( n \) — Total number of payments (loan term in years × 12)

Explanation: This formula calculates the fixed monthly payment required to fully amortize a loan over its term.

3. Importance of Mortgage Calculation

Details: Accurate mortgage calculations help borrowers understand affordability, compare loan options, and plan long-term finances.

4. Using the Calculator

Tips: Enter the loan amount in SGD, annual interest rate (default 2.5%), and loan term in years (default 25). All values must be > 0.

5. Frequently Asked Questions (FAQ)

Q1: What's the typical mortgage term in Singapore?
A: Most HDB loans have 25-year terms, while bank loans typically range from 15-35 years.

Q2: How does Singapore's interest rate compare?
A: Singapore mortgage rates are typically lower than global averages, often between 1.5-3.5% for fixed-rate loans.

Q3: Does this include CPF payments?
A: No, this shows total payment. CPF usage would reduce your cash outlay but not the total mortgage amount.

Q4: What about TDSR and MSR limits?
A: This calculator doesn't account for these Singapore-specific borrowing limits. Consult a mortgage broker.

Q5: How accurate is this for floating rate loans?
A: It provides estimates based on current rates. Floating rates will change payment amounts over time.