Helping You To Realise Your Home Dreams

Mortgage Loan

If You are taking a Bank Loan

Loan Amount                         : Maximum 75% of purchase price or valuation whichever is lower
(Loan-To-Value Limit)             Since 6 July 2018
Loan Tenure                           : 30 years 
Loan Eligibility                       : Subjected to maximum 55% of the borrower(s) income (TDSR)*
Loan Packages                      : Fixed or Variable  Interest Rate (IR) Packages. Variable IR pegged to SORA or SIBOR

*Revised on 15 Dec 2021 

Total Debt Servicing Ratio (TDSR) refers to the proportion of the borrower(s)' gross income that goes to the repayment of debt obligations (monthly basis). This includes the mortgage loan that you are applying for. The current TDSR is capped at 55% of the borrower(s)' monthly gross income ( last revised down by 5% in December 2021). 

Eg.  Mr Lee's monthly gross income: $7,500 
        Monthly debt obligations: $1,500 (car loan) + $250 (personal loan) 
        TDSR 55%: Capped at $4,125 for debts obligation 
        Amount Available for housing loan : $4,500- $1,500 -$250 = $2,375

The loan amount eligibility for Mr Lee shall be based on $2,375.  
For more details on TDSR rules and calculations, check out MAS website here

For flats or executive condominiums, borrower(s) are subjected to mortgage servicing ratio (MSR). MSR is capped at 30% of the monthly gross income and applies only to property loans. 

Loan To Value Limit


   Current Housing Loan                                             LTV Limit                                   Min. Cash Downpayment 
None                                                       75%                                                    5%
   1                                                             45%                                                    25%
2 & above                                                35%                                                    25%

HDB Concessionary Housing Loan

If you looking to buy a flat and wants to apply for the HDB concessionary housing loan, you must check on your eligibility to buy flat. And at the same time, you can also apply for your HDB loan eligibility (HLE)  to see if you can qualify for the HDB housing loan. 

To qualify for HDB housing loan:
1.  Min 1 buyer is a Singaporean Citizen
2. Have not previously taken 2 or more HDB housing loans 
3. Must not have owned or disposed any private property in 30 months before HLE letter application 
4. Income ceiling of $7,000 (Singles), $14,000 (families), $21,000 (extended families)

Do apply the HLE letter early as you need to have a valid HLE letter to book a flat or obtain the Option to Purchase & submit resale application.
The HLE is valid for 6 months. For more details on HDB loan, you can check out here