What is the maximum loan-to-value in Singapore?

For a first private property bank loan the LTV is capped at 75 percent, so you need at least a 25 percent down payment, of which at least 5 percent must be in cash. HDB concessionary loans are also capped at 75 percent. Second and subsequent loans have lower caps.

What is TDSR in Singapore?

The Total Debt Servicing Ratio caps all your monthly debt repayments — including the new mortgage — at 55 percent of gross monthly income. It is assessed at a medium-term interest rate floor of 4 percent, not your actual rate, so the stress-test payment is higher.

What is MSR and when does it apply?

The Mortgage Servicing Ratio caps your property loan repayment at 30 percent of gross monthly income. It applies only to HDB flats and Executive Condominiums bought from a developer, on top of TDSR. This tool applies it when you tick the HDB option.

Why does the calculator use a 4% rate for the stress test?

MAS requires banks to assess affordability at a medium-term interest rate floor — currently 4 percent for property loans — rather than the actual promotional rate. This protects borrowers if rates rise, so your TDSR and MSR are checked against a higher notional payment.

Is the monthly payment fixed for the whole tenure?

This calculator assumes a constant rate over the tenure using the standard amortising annuity formula. Real Singapore packages often have a low fixed period of 2 to 3 years that then floats, so re-check your payment when the package resets.

Singapore Mortgage Calculator

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A Singapore home loan is shaped as much by regulation as by arithmetic. The Monetary Authority of Singapore caps how much you can borrow (LTV), how much of your income can service debt (TDSR), and adds a tighter rule for public housing (MSR). This calculator computes the monthly payment and runs all three checks so you know not just what a loan costs, but whether you would be allowed to take it.

How it works

The monthly payment uses the standard amortising annuity formula:

M = P × r / (1 − (1 + r)^-n)

where P is the loan amount, r is the monthly interest rate, and n is the number of months. The loan amount is the price minus your down payment, and the LTV is loan / price.

The affordability tests run on a stress-test payment computed at a 4 percent interest floor rather than your actual rate:

TDSR passes if stressPayment + otherDebt ≤ 55% of gross monthly income.
MSR (HDB and ECs only) passes if stressPayment ≤ 30% of gross monthly income.

Example and notes

On a 1,200,000 dollar property with 25 percent down, a 25-year tenure, and a 3.5 percent rate, the loan is 900,000 and the monthly payment is around 4,500 dollars. The 4 percent stress payment is higher, so a borrower needs roughly 9,000 to 9,500 in gross monthly income to clear TDSR comfortably.

These are estimates. Actual approval depends on your full credit profile, the bank’s own rules, and the prevailing MAS measures, which change periodically. Confirm figures with your bank and an MAS-licensed mortgage adviser before committing.