AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
I am intending to buy a HDB resale flat together with my wife.

We wanted to take a HDB loan. Just a few questions:
1. Is HDB loan subject to TSR (Total Debt Servicing Ratio) of 60%?
2. If yes, and our income already exceed 60%, so are we still allowed to take HDB loan since the banks will surely reject us?

We need a house to stay. This is our first time applying for HDB loan.
0 •
1245 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

3 Answers

YT Tan (陈永达)
Replied
Good afternoon buyer,

you will be subject to 30% MSR (mortgage servicing ratio) of your combined income instead of TDSR.

I will recommend you to apply for HLE to see how much can both of you loan to be better assured.

If you need any assistance in your property purchase, feel free to contact me.

Hope to hear from you soon!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
ECG Property Pte Ltd
(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com Read More
0
Upvote Upvoted
CK Ang
Replied
Hi, I can share with you the estimated financial break down required to purchase a property (HDB & Private). HDB and private have different rules.

I am reachable at my mobile.

CK Ang
 9046 3808 
Vestor Realty Read More
0
Upvote Upvoted
Mike Lim
Replied
Evening,

Both HDB or bank loan are subjected to MSR and TDSR assessment. To get HDB loan, your combined income should not exceed $10k. However, how much loan you can get would also depends on how much loan you are currently servicing and your current age.

Do feel free to contact me for further discussion.

Regards
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions