Mortgage Calculator Singapore – Estimate Your Monthly Home Loan Payments

This mortgage calculator is simple to use, and it takes into account all the important variables, including the total loan amount, down payment, interest rate, and loan tenure. With just a few clicks, you’ll get an accurate estimate of your monthly payments, as well as a breakdown of the principal and interest amounts.

Mortgage Calculator

How to use the Mortgage Calculator*?

  1. Enter the Total Amount of the property you wish to purchase. This is the full value of the property.
  2. Next, enter the Down Payment you plan to make: amount of money you will put down upfront, with the remainder being financed through the mortgage.
  3. Enter the Interest Rate provided by your lender. Average interest rate would fall around 3.68%
  4. Enter the Loan Tenure, or the length of time over which you will pay off the mortgage.
  5. Click on the “Calculate” button to see the estimated monthly repayment amount.
  6. The calculator will display the monthly repayment amount, as well as the total interest payable over the loan tenure.
  7. Use this information to assess if the monthly repayments are affordable and if the total interest payable is reasonable.

*The mortgage calculator is a tool to give you an estimate of the monthly repayment amount and total interest payable. Actual figures may vary depending on your lender and other factors. It is always recommended to consult with a financial advisor or mortgage specialist to get a better understanding of your financial situation and options.

Mortgage Repayment FAQ 

Below are some of the commonly asked questions. Can’t find what you are looking for? Fret not, I am always ready to help. Simply click on the Whatsapp button on the bottom right of the screen and throw me a text. I will be in touch within 24 hours.

What is the difference between a fixed-rate mortgage and a floating-rate mortgage?

A fixed-rate mortgage has a fixed interest rate for the entire loan tenure, while a floating-rate mortgage has an interest rate that changes periodically based on market conditions.

If you miss a mortgage repayment, you may incur late payment fees and interest charges. If you continue to miss payments, your bank/ lender may take legal action against you or even repossess your property.

If you sell your house before it’s fully paid off, you will need to use the sale proceeds to pay off your outstanding mortgage loan balance. If the sale proceeds are insufficient, you will need to top up the difference.

Fees and charges associated with mortgage repayment may include application fees, legal fees, valuation fees, and late payment fees. It is important to read the loan agreement carefully and understand all the fees and charges involved. Read more here.

Refinancing in Singapore refers to the process of switching from your existing home loan to a new one, usually with a different bank or financial institution. The main goal of refinancing is to obtain a lower interest rate or better terms on your mortgage loan, which can help reduce your monthly repayment amount and save you money in the long run. More information can be found here via PropertyGuru.com.sg.

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