Mortgage & Refinancing Calculator

It is a standard amortising payment: the loan amount, the monthly interest rate (annual rate divided by 12) and the number of months determine a fixed instalment that clears the loan at the end of the tenure. Each payment is part interest on the current balance and part principal; the principal share grows over time.

Yes, but at a cost. A longer tenure spreads the principal over more months so the instalment falls, but you pay interest for more years, so the total interest over the loan rises. The maximum tenure is 30 years for HDB flats and 35 years for private property, with LTV penalties beyond 25/30 years or past age 65.

When the monthly saving from the new rate recovers the switching cost (legal and valuation fees, net of the new bank's subsidy) within a few months, and you are past any lock-in on your current loan. Compare the break-even months against how long you expect to keep the loan.

Your loan is capped by TDSR (all monthly debt within 55% of gross income), MSR for HDB and developer ECs (mortgage within 30%), and the Loan-to-Value limit. The affordability calculator works out your maximum loan and the price it supports.

Legal fees of roughly S$1,800–2,500 and a valuation fee of a few hundred dollars, often subsidised by the new bank for loans above a threshold. If you refinance while still inside your current package's lock-in period, expect a penalty of about 1.5% of the outstanding amount.

It depends heavily on the rate and tenure. The repayment view totals every interest payment across the tenure; as a rough guide, a 25-year loan at 3% costs roughly 42 cents of interest for every dollar borrowed, and more as the rate rises.