Loan Matters
Have you already been servicing your loan for a few years, but only see minimum reduction of your principle amount?
Do you know that:
with a slight difference of 1% interest on a $1 mil loan balance, you could easily lose $13,000 each year for an average of 3 years?
Scroll down to understand how Refinancing and other loan methods can Save you Tens of thousand or more yearly and assist you to clear off your loan much faster!
Based on:
Loan amount: $1,000,000
Term of loan: 27 Years
Interest Rate: 2.7%
Interest Rate: 1.7%
PRINCIPAL SAVING
INTEREST SAVING
Total Savings for 3 years: $29,153.42 + $11,177.39 = $40,330.81
Get the Lowest Mortgage Rate Today
Lowest Mortgage Rate
BUC Property
HSBC Bank
DBS Bank
Citibank
1st Year
2nd Year
3rd Year
Thereafter
Lock In Period
1M SORA + 0.55%
1M SORA + 0.55%
1M SORA + 0.65%
1M SORA + 1.00%
No Lock In
3M SORA + 0.60%
3M SORA + 0.60%
3M SORA + 0.60%
3M SORA + 0.60%
3M SORA + 0.60%
3M SORA + 0.70%
3M SORA + 0.70%
3M SORA + 0.70%
No Lock In
No Lock In
Completed Property
DBS Bank
DBS Bank
Standard Chartered
OCBC
HSBC
1st Year
2nd Year
3rd Year
Thereafter
Lock In Period
3.65% (Fixed)
3.65% (Fixed)
3M SORA + 1.00%
3M SORA + 1.00%
2 Years
3.5% (Fixed)
3.5% (Fixed)
3.5% (Fixed)
3 Years
3.6%(Fixed)
3.6% (Fixed)
3M SORA + 1.00%
3M SORA + 1.00%
2 Years
3.65% (Fixed)
3.65%(Fixed)
3M SORA + 1.00%
3M SORA + 1.00%
2 Years
1M SORA + 1.00%
3.85% (Fixed)
2 Years
1M SORA + 1.00%
3M SORA + 1.00%
3.85% (Fixed)
Find out more about the different type of Mortgage Loan package available
1st Year: 2% (floating)
2nd year: 2.5% (floating)
3rd year: 3.5% (floating)
Get to Know the packages each bank Offer
Do you know how Bank compute your HDB / EC / Private ppty Loan?
What is TDSR?
Total Debt Servicing Ratio (TDSR) is a debt servicing measure that bank/ financial institution used to determine i the potential borrower is overly geared with debts.
​
How to compute TDSR?
Based on the newest measure, TDSR should not be more than 55%
Monthly Total Debt Obligations
_________________________ < 55%
Gross Monthly Income.
​
Monthly Total Debt Obligation consist of:
1) Existing Housing Loan Installment
2) Car loan Installment
3) Personal Loan Installment
4) Overdraft Loan Repayment
5) Credit card etc
What is MSR?
Mortgage Servicing Ratio, or MSR, is a limit imposed by the MAS on how much money you can borrow when you take out a loan to buy HDB property or an EC.
​
How to compute MSR?
Under the MSR, a maximum of 30% of your gross monthly income can be used to repay your loan.
Employers’ CPF contributions are not included in the calculation of your gross monthly income. However, the amount of cash that is deducted from your official salary and placed in your CPF account (ie. the employees’ contribution), does count towards your gross monthly income.
​
How can I calculate MSR?
Simply calculate 30% of your gross monthly income. That figure is the maximum you are allowed to spend on home loans. Let’s say your monthly income is $5,000. 30% x $5,000 = $1,500
​
When you get a mortgage, you have to make sure that your monthly loan repayments are not more than $1,500.When it’s you and your partner buying the property, together, both your incomes will be taken into account.
Mortgage Servicing Ratio (MSR)
Total Debt Servicing Ratio (TDSR)
What other ways can I use to increase my Loan quantum?
How to determine monthly income based if I were to pledge my cash with the bank for 48months?
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Deposit Amount
___________________ = Monthly Income
48 months
How to determine monthly income based on my unpledged cash on hand?
Deposit Amount X 30%
___________________ = Monthly Income
48 months
Unpledged Deposit
Pledged Deposit
