Updated January 2, 2023
Instead of breaking your back going from bank to bank, ROSHI gets you customized loan options from lenders directly on our platform. Compare & review mortgage options via your dashboard and chat directly with loan managers to find the best rates in the market.Find your home loan on the
ROSHI enables borrowers to receive fully customised loan options, updates and strategies in real-time directly on our platform, avoiding the hassle of calling, visiting or applying with multiple lenders or brokers.
Access to the best mortgage rate
Packages from all major lenders
Customer first, non biased advice
Rate monitoring and notification
Bespoke mortgage solutions via personal dashboard
You must have the following data:
Enter the buying price or if you are refinancing, then just put the current value
Ente the approved interest rate
Just adjust the number of years (mortgage length)
This is the final step where you can finally view the yearly change of the total repayment including a breakdown of principal and
For those who are curious about how our calculator works, we utilize the following formula to calculate mortgages:
Calculating your monthly repayments is a crucial step in determining how much house you can afford. This is likely to account for the majority of your living expenses.
When you purchase a property or refinance a home, you can use ROSHI’s mortgage calculator to estimate your monthly repayments. To run scenarios, alter the loan details in the calculator which can assist you in making the following decisions:
The mortgage payment calculator will help you figure out how much you will have to pay each month, especially when you factor in all of your expenses, such as taxes, insurance, and private mortgage insurance.
The monthly payment on a 30-year fixed-rate mortgage is lower, but you’ll pay more interest over the life of the loan. The total interest you’ll pay will be lower with a 15-year fixed-rate mortgage, but your monthly payment will be greater.
It’s easier than ever to put down a little amount of money, with minimum down payments as low as 10%. The mortgage payment calculator can assist you in determining the optimal down payment based on your personal financial situation.
Lenders must evaluate your ability to repay the amount you wish to borrow. The debt-to-income ratio is one of many elements that go into that evaluation.
The percentage of pretax income that goes toward monthly debt obligations, such as the mortgage, auto payments, student loans, minimum credit card payments, and child support, is known as your debt-to-income ratio. Lenders prefer debt-to-income ratios of 36 percent or less — or a limit of $1,800 per month on a $5,000 monthly gross income before taxes.
You might use ROSHI’s mortgage calculator if your mortgage payment only consisted of principle and interest. Most mortgage payments, however, have additional fees and charges. The following are the main elements of a monthly mortgage payment:
The initial loan amount is referred to as the principal. Each mortgage payment reduces the amount you owe on the principle.
This is the fee that the lender charges you for borrowing money. Interest rates are stated as a percentage of a year’s income.
This insurance safeguards the lender’s interests in the event that a borrower defaults on a loan.
You can use the mortgage calculator to run scenarios to see how you can lower your monthly payments:
Your payment will be cheaper over time if you choose a longer period, but you will pay more interest. Examine your amortization schedule to understand how extending your loan will affect you.
A smaller loan equates to a lower monthly mortgage payment.
Making a higher down payment can help you avoid PMI while also lowering your interest rate. As a result, your mortgage payment will be lower on a monthly basis.
It’s possible that your monthly payment will increase over time if:
The Total Debt Servicing Ratio (TDSR) framework regulates the loan-to-income ratio for a residential mortgage in Singapore. Your total debt obligations should not exceed 60% of your income. This covers mortgage loans, credit card debts, personal loans, and even unpaid appliance installments. Banks, on the other hand, may set higher limitations for refinancing. Every bank has different take up on this.
You can borrow up to 90% of the purchase price of your property with a HDB Concessionary Loan. The maximum loan amount for a bank loan is determined by the number of house loans you currently have. For the first housing loan, you can borrow up to 75 percent of the property purchase price, 45 percent for the second housing loan, and 35 percent for the third housing loan.
To find out how much you’ll be paying each month, enter the amount of your mortgage loan and the interest rate into the calculator above.
For HDB flats, the maximum loan tenure is 30 years, and for private properties or Executive Condominiums, the maximum loan term is 35 years (EC). The percentage of your property’s price you can borrow depends on the length of your loan. To be eligible for the maximum loan, your loan term must be less than 30 years (for private residences and ECs) and more than 25 years (for commercial properties) (for HDB flats). At the end of the loan tenure, the borrower’s age cannot surpass 65. If you violate either of these conditions, your loan amount will be reduced by 20%
Over a set period of time, fixed rate packages maintain the same interest rate (typically 1 to 5 years depending on the package). This means that your loan package has a fixed rate that won’t fluctuate no matter what happens in the market. Fixed rate packages automatically switch to floating rates after the lock-in period expires.
Floating rate packages, on the other hand, feature interest rates that fluctuate daily based on the rise and fall of SIBOR and SOR rates. When opposed to fixed rate packages, these packages often feature lower interest rates at the onset, with SIBOR and SOR movements dictating how high or low the rate would be. Board rates and fixed deposit rates, not simply SIBOR/SOR, can be used to peg floating rates.
Mortgage insurance is a sort of insurance that covers your mortgage loan in the event of unforeseen circumstances. You will receive a lump sum payment that you or your family might utilize to pay down your mortgage. It’s sometimes referred to as mortgage term reduction insurance (MRTA). It is known as the Home Protection Scheme (HPS) for HDB and is required to be purchased if the property and loan are paid for using CPF. The MRTA is optional in the private property market.
When it comes to choosing a home loan in Singapore, it’s all up to how you plan out your lifestyle and future.
When you are looking to purchase an HDB flat to stay in with a limited monthly household income, you may need to get a home loan to offset the financial burden.
When Singaporeans become adults, a typical rite of adulthood is the purchase of an HDB BTO flat. Here are the 6 steps to buying your very first BTO flat in 2021.
Your decision to refinance your home loan can be due to certain common reasons such as taking cash out, getting a lower payment, or to shorten your mortgage term.
CPF (or HDB) housing grants are typically given to lower income households to help make home purchases more affordable.