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Good afternoon Sreekanth,

For mortgage calculation for resale HDB purchase, it will be based on 30% MSR and max loan tenure of 25 years.

MSR will be based on your fixed income unlike TDSR which will take into consideration of your debt.

It will be best for my bankers to advise on this professionally so you will have a better idea how much can both of you loan based on your combined income.

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Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Senior Associate Marketing Director
R043025D
Propnex Realty Pte Ltd
Estate Agent no. L3008022J
Blk 480 Lorong 6 Toa Payoh, #10-01/11-01 HDB Hub East Wing, Singapore 310480

(M): +65 9111 5171 
(E): yt.tan91115171@gmail.com
(W):www.yttan.com

Powerful Negotiators
No.1 team in Propnex Read More

Hi Sreekanth,

For resale HDB purchase for SPRs, you can only take bank loan and you must fulfil both TDSR 60% and MSR 30% requirements, and the bank loan will be computed accordingly.

As their respective names suggest, do note TDSR of 60% is for all your total debt obligations, whereas MSR of 30% is only about housing mortgage obligations.

To get an indicative loan amount, its best if I can get my banking partners to assist. Thanks and look forward to value-add to your housing plans further.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More

Hi Sreekanth,

You have done the right thing by understanding your finance before you embark in your purchase of a HDB flat.

It would be necessary to get an IPA (In-principle-approval) on your loan quantum. This is in fact, within the scope of a banker to advise on the quantum of the loan.

I suggest you speak to the banker for an IPA. You may call or email to gavin.ng@orangetee.com if you need a referral for the mobile bankers.

As I have supported a fair number of SPR/SPR in their buying of HDB flats, you may contact 9620 0827  for a chat or email your enquiry gavin.ng@orangetee.com.

Regards

Gavin Read More

Evening,

MSR, mortgage servicing ratio is the ratio on cash top-up on your mortgage, based on your monthly income.
TDSR, total debt servicing ratio is the ratio of total debt which you are paying by cash monthly.
If your MSR falls within 30% but exceeded 60% of the TDSR, the among of loan you will be eligible for will be lower. This is done to reduce your TDSR ratio.

Do feel free to contact me for detail discussion.

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