Home Affordability Calculator Singapore
Home affordability is a crucial factor when considering a property purchase in Singapore. Our home affordability calculator Singapore helps you determine how much you can afford, making the home buying process more informed and less stressful.
- Enter your monthly income, desired loan amount, downpayment, and loan tenure.
- Select your preferred interest rate.
- Click ‘Calculate’ to see your results.
The calculator uses the following formula to calculate your maximum affordable loan amount:
Maximum Affordable Loan = (Monthly Income – Monthly Debts) x (Loan Tenure / 12) x (1 – Interest Rate)
| Income | Loan | Downpayment | Tenure | Interest | Affordable Loan |
|---|---|---|---|---|---|
| 8,000 | 500,000 | 100,000 | 25 | 2.6 | 420,000 |
| 12,000 | 800,000 | 200,000 | 30 | 1.8 | 640,000 |
| 15,000 | 1,000,000 | 250,000 | 35 | 1.5 | 850,000 |
| Interest Rate | Average Loan Tenure | Average Downpayment |
|---|---|---|
| 2.6% | 25 years | 20% |
| 1.8% | 30 years | 25% |
| 1.5% | 35 years | 30% |
- Consider your monthly debts when calculating affordability.
- Factor in other costs such as property taxes and maintenance fees.
- Regularly review and update your affordability calculation.
What is the maximum loan tenure in Singapore?
35 years.
What is the minimum downpayment for a property in Singapore?
5% for HDB flats, 25% for private properties.