Home loan Calculator Singapore 🇸🇬
A S$1,200,000 private home loan at 3.5% over a 25-year term works out to a monthly payment of about $6,007, with total interest of $602,245 over the full term.
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Home loans in Singapore
Market overview
Singapore home loans split into HDB (subsidized public housing) and private property. Private mortgage rates are typically pegged to SORA (Singapore Overnight Rate Average) or fixed for 1-5 years. Major lenders include DBS, OCBC, UOB, and Standard Chartered. Post-2024 SORA decline brought rates to 3.0-3.8% for 2-year fixed.
Why 3.5% is the typical rate
3.5% is typical for a 2-year fixed private property loan at 75% LTV. HDB-eligible loans (with HFE certificate) get rates ~0.5% lower; SORA-floating may be slightly lower with rate risk.
Tax & regulatory notes
No mortgage interest deduction for primary residences. Total Debt Servicing Ratio (TDSR) caps debt at 55% of monthly income. Loan-to-Value (LTV) capped at 75% on first private property, lower on second/third. Additional Buyer's Stamp Duty (ABSD) applies to foreigners and 2nd+ properties.
A S$1,200,000 private home loan at 3.5% over a 25-year term
$1,200,000 3.5% 25 years (300 months) $6,007 $602,245 $1,802,245