Home loan calculator
Monthly instalment, downpayment, and the income banks and HDB want to see.
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Monthly instalment by loan amount (25 years)
| Loan | 1.8% | 2.6% | 3% | 4% |
|---|---|---|---|---|
| $300,000 | $1,243 | $1,361 | $1,423 | $1,584 |
| $400,000 | $1,657 | $1,815 | $1,897 | $2,111 |
| $500,000 | $2,071 | $2,268 | $2,371 | $2,639 |
| $600,000 | $2,485 | $2,722 | $2,845 | $3,167 |
| $800,000 | $3,313 | $3,629 | $3,794 | $4,223 |
| $1,000,000 | $4,142 | $4,537 | $4,742 | $5,278 |
Questions
HDB loan or bank loan?
An HDB loan stays at 2.6% and needs no cash downpayment. Bank loans are often cheaper today but rates float, and at least 5% of the price must be paid in cash.
What are MSR and TDSR?
MSR: for HDB flats and new ECs, the home loan can take at most 30% of your monthly income. TDSR: for bank loans, all your loans together can take at most 55%.
Why do I need more income than the instalment suggests?
Lenders test affordability at a higher rate (4% for bank loans, 3% for HDB loans) in case rates go up.