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For HDB concessionary loan, up to $20,000 of the CPF Ordinary Account savings will be retained for each user as contingency fund first, while the remaining CPF Ordinary Account savings balance will be used to reduce the loan required.

For any property financed with bank loan, the downpayment is 25% (the first 5% must be cash) and maximum loan is 75%.

For HDB flat financed with HDB loan, the downpayment is 15% and maximum loan is 85%.

Program assumes that the property price is equal to 100/75 or 100/85 of the computed maximum housing loan, for 75% and 85% housing loan respectively and that there is no cash over valuation.

For users aged 55-64, the loan is assumed to be repaid by 65.

For users aged 21-54, the program assumes the loan is repaid by 55.

The maximum age at which the loan must be repaid is 65 years old.

The maximum loan repayment period is 25 years.

This is the current HDB housing loan concessionary interest rate.

The loan interest rate is 2.60% per annum.

The mortgage servicing ratio (or percentage of gross monthly income that can be afforded to be spent on housing) is 25%.

If there are two users, the average age is adopted for the loan period computation.

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#Housing loan calc free

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#Housing loan calc professional

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