Singapore TDSR, MSR & LTV Home Loan Calculator
How much a bank can lend you under the TDSR, MSR and loan-to-value rules.
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MAS rules Singapore · bank home loans: TDSR 55%, MSR 30%, LTV · Sources
The limits
Income for the ratios (a month)
The purchase with the maximum loan
Rules used and official sources
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Results are estimates for general information and planning, not financial advice. Banks and institutions may calculate differently (rounding, fees, rate changes). Confirm figures with your lender or a qualified adviser before deciding.
About the Singapore TDSR, MSR & LTV Home Loan Calculator
Find out how much a bank can lend you for a home in Singapore under the Monetary Authority of Singapore’s rules. The calculator applies the Total Debt Servicing Ratio (all your monthly debts, the new loan included, at most 55% of gross monthly income) and, for an HDB flat or an executive condominium within its minimum occupation period, the Mortgage Servicing Ratio (property loans at most 30%). Both work the new loan’s instalment out at the medium-term interest rate — the higher of a 4% floor and your loan’s rate after any lock-in — so the limit is lower than today’s instalment suggests.
It then applies the loan-to-value limit for your number of outstanding housing loans, tenure and age, and shows the down payment: the part that must be cash and the rest. Variable and rental income count with MAS’s 30% haircut, and eligible savings and investments can be counted over 48 months. Joint borrowers use the income-weighted average age. Nothing you type leaves your browser.
How to use it
- Choose the property: an HDB flat bought with a bank loan, an executive condominium within its minimum occupation period, or a private home.
- Enter the price and any discounts or benefits from the seller, how many housing loans you still have, the tenure and, if you know it, the loan’s rate after any lock-in.
- Enter each borrower’s fixed monthly income, average monthly variable income over the past year and age; add a second borrower for a joint loan.
- Enter your monthly debts: property loans you already pay, and car, student, renovation and personal loans and credit card minimum payments. Open “More income” for rent or financial assets.
- Read the maximum loan and which rule sets it, the loan under each rule, and the down payment in cash and from cash or CPF. Copy the summary or download it as a CSV file — with a pass, or after unlocking this result.
Examples
TDSR: S$4,400 a month at 4% over 30 years supports S$921,629. The 75% LTV limit caps the loan at S$750,000; the down payment is S$250,000, at least S$50,000 in cash.
MSR: S$1,800 a month (30%) over 25 years supports S$341,014, less than TDSR (S$625,193) or LTV (S$375,000), so the MSR sets the loan.
Income-weighted average age about 43.3. A 25-year loan runs past 65, so the lower 55% limit applies; a tenure of 21 years or less keeps 75%.
With one outstanding housing loan the limit is 45% (S$675,000 of S$1,500,000) and at least 25% of the price must be cash: S$375,000.
Commission counts at 70%: S$6,400 of income, so TDSR supports S$737,303 over 30 years.
Total Debt Servicing Ratio (TDSR)
TDSR = total monthly debt obligations ÷ gross monthly income, and it must not exceed 55% (MAS). The debts are every loan you have — property loans, the loan you are applying for, car, student and renovation loans, credit card and other loans — with the new property loan at the medium-term interest rate: the higher of a 4% floor (5% for non-residential property) and the loan’s “thereafter” rate, the highest rate during the tenure. Existing loans count at their actual instalments.
Gross monthly income is income before tax, without your employer’s CPF. Variable income (commission, bonus, allowances, averaged over the past 12 months) and rental income count after a haircut of at least 30%. Eligible financial assets can be counted as income over 48 months: Singapore-dollar deposits pledged for four years in full, other pledged assets after a 30% haircut, and unpledged assets after a 70% haircut.
Mortgage Servicing Ratio (MSR)
For a loan to buy an HDB flat, or an executive condominium whose minimum occupation period has not ended, the instalments of all your property loans must also stay within 30% of gross monthly income (MAS). It does not apply to private homes or to ECs past their minimum occupation period. The calculator uses the same gross monthly income, with the same haircuts, for both ratios.
Loan-to-value limits and the down payment
For individuals buying a home, the loan-to-value limit depends on how many housing loans you already have (MAS):
- No outstanding housing loan: 75%, or 55% with the longer tenure or age; at least 5% (or 10%) of the price in cash
- One outstanding housing loan: 45%, or 25% with the longer tenure or age; at least 25% of the price in cash
- Two or more: 35%, or 15% with the longer tenure or age; at least 25% of the price in cash
The lower limit applies when the tenure is over 30 years (25 for HDB flats) or the loan runs beyond age 65. The longest tenure is 30 years for HDB flats and 35 for other homes. For joint borrowers, age is the income-weighted average age. Companies and other borrowers that are not individuals get 15%. Discounts, rebates and benefits from the seller or developer (paid legal fees, for example) come off the price first (MAS).
The minimum cash part of the down payment is set by MAS; the rest can be paid in cash or, within CPF Board’s housing rules, from your CPF Ordinary Account.
Limitations
- For bank loans to individuals buying a home. HDB’s own housing loan has its own eligibility rules, and refinancing, mortgage equity withdrawal loans and non-residential property are not covered.
- MAS’s rules are minimums: lenders may assess your income and debts more strictly, and they decide the loan.
- Loans you guarantee for others, revolving credit lines and the exclusions for a home you are selling are not modelled.
- For a joint loan the number of outstanding housing loans depends on each borrower’s loans: check with your bank.
- Stamp duty, legal and valuation fees and other costs of buying are not included.
- When the valuation is below the price, enter the valuation as the price: the loan limits use it, and the difference to the price you pay (cash over valuation) comes on top of the down payment shown.
Privacy
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Frequently asked questions
What do I get without a pass?
Without a pass, Singapore TDSR, MSR & LTV Home Loan Calculator shows your maximum home loan in full, with the first rows of the limits, the income and the purchase (up to 3); every other figure is hidden. Until you unlock it, the result can’t be downloaded or copied. A Pro, Premium or Ultimate pass, a one-time payment that never renews, unlocks the full result. The pricing page lists the passes and their prices.
What is the TDSR limit in Singapore?
55% of your gross monthly income: all your monthly debt repayments, including the new home loan, must fit within it. The new loan is counted at a 4% rate (or its own rate after any lock-in, if higher), not today’s rate.
Does the MSR apply to condos?
No. The 30% Mortgage Servicing Ratio applies only to loans for HDB flats and for executive condominiums still within their minimum occupation period (such as a new EC bought from the developer). Private condominiums are limited by TDSR and the loan-to-value rules only.
What interest rate do banks use for TDSR and MSR?
The medium-term interest rate: 4% for residential property (5% for non-residential), or the loan’s “thereafter” rate if that is higher. It applies only to the loan you are applying for; existing loans count at their actual instalments.
How much cash do I need for the down payment?
With no other housing loan and the 75% limit, at least 5% of the price in cash (10% under the 55% limit). With a housing loan outstanding it is 25%. On a S$1,000,000 home with a 75% loan, that is S$50,000 of the S$250,000 down payment.
How is the age of joint borrowers worked out?
As the income-weighted average age: each borrower’s age times their share of the combined income, added up. In MAS’s example a 60-year-old earning S$8,000 and a 30-year-old earning S$10,000 have an average age of about 43.3, so a loan that runs past 65 triggers the lower LTV limit.
Is my information sent anywhere?
No. Everything is calculated in your browser; nothing you enter is uploaded or stored on a server.