Mortgage Expenses
| Down payment | ($) |
| Total loan amount | ($) |
| Total interest amount | ($) |
Outstanding loan vs tenor
| Monthly mortgage insurance fee(2) | $ (Max)[First Yrs] $ [After Yrs] $ |
| Monthly repayment (1st mortgage) | $ (Max)[First Yrs] $ [After Yrs] $ |
| Monthly repayment (2nd mortgage) | $ (Max)[First Yrs] $ [After Yrs] $ |
| First mortgage - Stress test |
|---|
Assumed interest rate(4)
(Increase 3% on interest rate) | % |
| Stress test | $ (%) |
| Second mortgage - Stress test |
|---|
Assumed interest rate(4)
(Increase 3% on interest rate) | % |
| Stress test | $ (%) |
| First mortgage - DTI ratio |
|---|
| DTI ratio | $ (%) |
| Second mortgage - DTI ratio |
|---|
| DTI ratio | $ (%) |
| Loan amount (1st mortgage) | $ |
| Loan amount (2nd mortgage) | $ |
| Mortgage insurance fee | $ |
| Interest amount (1st mortgage) | $ [First Yrs] $ [After Yrs] $ |
| Interest amount (2nd mortgage) | $ [First Yrs] $ [After Yrs] $ |
| Mortgage insurance interest | $ [First Yrs] $ [After Yrs] $ |
(1) Monthly repayment amount for “single interest rate plan for entire tenor” or phase one of the “combined interest rate plan”.
(2) Only applicable to MIP Scheme with monthly repayment.
(3) For value of properties less than or equal $10 million - First-time homebuyers will still be eligible for MIP loans up to 80% or 90% LTV ratio even if they cannot meet the stressed DTI, but the DTI ratio should not exceed 50%. There will be an additional adjustment to the premium based on relevant risk factors
(4) According to HKMC, homebuyers have to pass the stress test prior to mortgage application. For an addition of 3% added on the existing interest rate (Calculation based on the minimum rate of 5.375%), the monthly repayment amount should not be over 60% of homebuyer’s monthly income. Calculation based on the Phase one of the first mortgage monthly repayment amount.
The prime rate of HSBC, HSB and BOC is 5.125%, NCB is 5%, while 5.375% is for all other banks and financial institutions.
This calculator is only applicable to the mortgage calculation of the residential property. Detailed calculation please refer to the "New Measures" section. All information is for reference only.All Terms and conditions are subject to HKMA, HKMC, Inland Revenue Department, Financial institution's final announcement/approval.
Charges by different law firms may vary. The items listed in the above table DO NOT include the legal charges for preparing the Sales and Purchase Agreement, Deed of Title Transfer and Mortgage Deed. Customers should consult a lawyer for details.
Please call our Hotline at 319-66666 if there are any enquiries.
