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Wondering how much you can afford for your dream home? Before choosing a home loan package, it's crucial to determine what you actually qualify for. Our TDSR Total Debt Servicing Ratio calculator helps estimate the maximum amount you're eligible to borrow for securing that HDB or private property you've been eyeing.
Property Information
Type of Property: Select whether your dream is an HDB flat, a condo or apartment, executive condo, or a landed property.
Status: Decide if it's still under construction or already completed.
Purchase Type: If this is for yourself alone or you're purchasing with a spouse.
Personal Detls
Age: This impacts how long your financial commitments ext over time and how much you can afford monthly.
Citizenship Status: Whether you are a Singaporean, Permanent Resident PR, or a foreigner.
Number of Properties Owned: Including this helps in understanding any potential implications for loan limits.
Financial Information
Monthly Income: Specify if it's fixed or varies each month. This impacts your total debt servicing capability.
Current Financial Commitments: Total monthly payments already allocated towards various debts like existing home loans, car loans, and other commitments.
Resources Avlable
Cash on Hand: The immediate funds you have at your disposal for any potential down payment needs.
CPF Savings: Check if you're using your CPF Central Provident Fund savings as part of the loan application process. This can significantly impact how much you can borrow.
Monthly Financial Commitments
Credit Cards Minimum Payments: Calculate these to understand minimum monthly obligations.
Home Loans: Include any existing or anticipated home loans on this property or others.
Other Commitments: Other financial obligations like rental payments, utilities bills, etc.
Calculate
Input the above detls into our TDSR calculator and find out your maximum loan amount eligibility. The tool will provide a clear indication of what you can afford based on your current financial situation and goals.
Don't want to sp time filling it out yourself? Let our mortgage specialists help assess your affordability and provide personalized advice tlored to your specific needs.
Explore other useful calculators like:
Stamp Duty Calculator: Understand the additional fees involved in purchasing a property.
Mortgage Calculator: Get insights into monthly payments for different loan amounts or interest rates.
Refinancing Calculator: See how much you could save by refinancing your current home loan.
FAQs
What is the maximum TDSR?
The Total Debt Servicing Ratio TDSR sets a limit of up to 55 on the total debt obligations one can have compared to their income.
What's the difference between TDSR and MSR Mortgage Servicing Ratio?
MSR refers specifically to how much your monthly mortgage payments should not exceed as a percentage of your income, while TDSR is a broader ratio including other monthly financial obligations.
How do I calculate monthly mortgage payments?
Use our Mortgage Calculator for this purpose. Input detls like loan amount, interest rate, and loan tenure to get an estimate.
What's Total Debt Servicing Ratio TDSR?
TDSR calculates the total debt servicing burden on your income, including all financial obligations.
What are the home loan eligibility criteria in Singapore?
Eligibility includes factors like age limits for borrowers, credit score requirements, and maximum TDSR ratios.
What amount of home loan can I afford?
Based on your inputs about income, expenses, assets, liabilities, and debt obligations, you'll find this out using our calculator.
What factors need to be considered in TDSR calculation?
Income sources fixed or variable, monthly financial commitments including but not limited to loans, credit cards, and other payments.
What should I do if I exceed the 55 TDSR?
Reassess your finances, consider reducing debts or increasing income, or look for loan options that allow higher ratios. Seek professional advice.
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