Singapore Residential Property Bank Loan Calculator & Progressive Payment Schedule

Last Updated August 5, 2024

Reading Time 1 minutes

What’s Your Bank Loan Eligibility?

Singapore cooling measures are coming out usually every 6-12 months. This is to ensure the property price align with fundamental of economics. Do take action as soon as you’re ready to avoid uncertainty in the rulings which could affect your affordability or cost you more to own one.

Recent Cooling Measures which affecting the Loan Eligibility:

27th Apr 2023:

Overall, SC & PR 1st property are not affected, but up 3~5% for 2nd / 3rd property. i.e 20% for 2nd prop for SC.

Foreigner/ Entities up another 30%, i.e 60% or 65% if buying under company.

Singapore ABSD Effective 27 Apr 2023

14th Feb 2023:
Marginal increased of Buyer Stamp Duty (BSD) based on price range. All property for price above $1,500,000 will be affected. E.g. For property price range from $1.5mil to $3mil, the additional amount for stamp duty will be increased by $1,000 for every $100K more in purchase price.

We provide here a mortgage calculator based on latest guideline by MAS (Monetary of Singapore) to have you have a quick check on loan eligibility. Shall you need more help/ clarification, do feel free to approach us for further assistance.

Calculator: SIngapore Quick Bank Loan Eligibility Check/ Progressive Payment Calculator – Final

Singapore Quick Bank Loan Eligibility Check
+
Progressive Payment Calculator

Created by MySgProp

Quick Bank Loan Eligibility

Applicant 1

Applicant 2

Bank Loan Eligibility: 

Singapore Progressive Payment Calculator

 

Financing:

 

75
4
30

!Important: Loan Tenure should NOT exceed “Max Loan Tenure” as shown in following:

Hooray! Your income is enough to cover the minimum requirements.
You don’t need to do Pledge / Unpledge. 

Your estimated monthly instalment is $


Based on total loan amount of $ at interest rate of % for years
 

Singapore Bank Loan LTV

Do You need to Pay ABSD?

There are several ways of avoiding/ minimising the ABSD rate through legacy approaches. But this is pretty much depending on your current status.

Do share with us your scenario and let us recommend you the best solution. 

Tips: 

Nationality, Property Count & Rate:
SC: 1st 0% | 2nd 20% | 3rd or more 30%
PR: 1st 5% | 2nd 30% | 3rd or more 35%
Foreigner: 60% Flat Rate
Entity/ Trustees: 65% Flat Rate

If joint-purchase, ABSD based on the person whoever is on the higher rate. 

Your Payable ABSD Amount is $

Based on total purchase price of $ 

Initial Cash Outlay

Inclusive of Taxes, but exclusive of Legal Fee which typically at $2500-3500. 


We do have long-term partnership with various law firms, which you could enjoy the preferential rate via our recommendations. 

Total Amount Payable Within 8 Weeks is $

During the construction, you will need to pay $

Total Amount Required (initial + construction): $

Breakdown of payment: 

Total Cash + CPF required on top of bank loan: 

Singapore Bank Loan LTV

Progressive Payment

Based on the Loan of %, or total loan amount of $ at interest rate of % for years, the following is the example of progressive payment for illustration purpose.

Take note if you have a fractional Loan %, it will auto round down to 80% / 75% / 65% / 60% / 55% / 50% / 45% / 40% / 15% / 0%,  to align with construction stages and ease the calculation for illustration purpose. 

Construction Stages

Amount ($)

Monthly Instalment ($)

5% Foundation/ 地基

5% Foundation/ 地基 (9 ~ 12 months)

10%: Framework/ 框架 (3 ~ 6 months)

5%: Walls/ 墙壁 (3 ~ 6 months)

5%: Ceiling/ 天花板 (3 ~ 6 months)

5%: Door & window/ 门窗 (3 ~ 6 months)

5%: Roads /道路 (3 ~ 6 months)

25%: Vacant Possession/ 拿锁匙 (9 ~ 12 months)

15%: Legal Completion/ 法定完工 (Till end of Loan Tenure)

Singapore EC Progressive Payment vs Deferred Payment

Disclaimer:
* The calculator/ results here are provided as general guideline for information only.
* All information provided have been treated with care based on Latest Policy set out by authorities/ financial institutions, and MySgProp.com should not be liable for any inaccuracy. 
* Should you need any clarifications, please contact us for more information. 

Do You Need Help?

Getting a property has many things to consider including the buying eligibility, loan restriction, income ceiling…etc. You might get confused, especially if you’re 1st time buying. 

Our teams are well-trained in financing. Shall you need help, do get in touch with us.
We are direct developer representative. Let us help you and get the best price/ discount for you.
No Agent Fee Required. 


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