26 Oct '13, 8am

read about the keypoints and effects of the Total Debt Servicing Ratio #tdsr #singapore

read about the keypoints and effects of the Total Debt Servicing Ratio #tdsr #singapore

The Total Debt Servicing Ratio implemented (29 June 2013) has caused many buyers, sellers, agents and salespersons to be confused about the loan amount and eligibility. You can read more about the TDSR at Monetary Authority of Singapore website . In short, here are a few key amendments TDSR threshold set at 60% 30% haircut on variable income Take into account all outstanding loans Apply medium term interest rate of either 3.5% or 4.5% Apply haircut and amortise value of eligible financial assets pledged Guarantors to be co-borrowers and borrowers to be mortgagors The amendments aim to encourage prudent borrowing and strengthen credit underwriting standards by Financial Institutions. We have prepared a simple mortgage loan affordability spreadsheet calculator you can use to estimate your max loan amount (based on TDSR rules). There are no responses so far. Be the first to l...

Full article: http://www.singaporerealestate.info/total-debt-servicing-...

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