25 Dec '15, 2pm

House installment cannot exceed 30% of your gross income under the Mortgage Servicing Ratio

In line with the government’s aim to impose financial prudence, the mortgage servicing ratio (MSR) for HDB loans whether by MAS-regulated financial institutions or HDB (HDB Concessionary Rate Loan) has been set at 30%. This means that the monthly mortgage installment must not exceed 30% of a household’s gross income.

Full article: http://www.iproperty.com.sg/news/7668/Anomaly---Young-Cou...

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