Since most of us will be tapping on Govt's BTO projects to get their very first subsidized flat, I thought this might be something useful for those with less financial knowledge.

You may have tried using this calculator from HDB to find out your estimated monthly payments, but this calculator doesn't show how much interest you will be paying.

But I had found this alternative calculator from this website (below) which not only show the total interest but also the breakdown of your payments.

http://www.excelfunctions.net/Excel-Mortgage-Calculator.html

Basically, once you have downloaded the excel (you may click here to download), you will input the info on the left and the rest will be shown on the right (boxed in red) and if further scroll down the excel, you will get to see the breakdown of your payments and the monthly balance.

Below is an example on how you can derive more info of your loan (boxed in red) when you are intending to borrow $300000 (balance to pay after CPF deduction) from HDB with your inputs filled in the beige boxes. You may adjust the conditions accordingly to the interest, how much and how long you would like the loan to be. Since this is probably one of your biggest loans in this life time, do set a few scenarios and select the one which you and your spouse is most comfortable with!






Do share this if you think it would be helpful to anyone around you who is planning to get their own HDB flats!