30 Jul '15, 12am

Check out this straight-forward table to find out for what loans and home types your income qualifies under TDSR.

In an effort to stabilize the financial system, the Monetary Authority of Singapore (MAS) has introduced a series of lending rules, which, for shorthand purposes, are collectively referred to as Cooling Measures or just TDSR by the general public. TDSR stands for Total Debt Servicing Ratio and is part of an effort by MAS to standardize the mortgage underwriting process. Underwriting is a fancy way of saying that the banks are trying to figure out whether or not you will repay the loan. When you apply for a mortgage, the bank will typically consider your credit score, capacity to pay, and the value of the home. These are known as the three “C’s” of mortgage underwriting. Your credit score accounts for your ability to pay back loans, including credit card debt, car loans, other home mortgages, and personal loans. Bank underwriters look at your income, existing debt, and your...

Full article: http://www.srx.com.sg/ask-home-prof/9541/how-much-can-you...

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