Use the MSR Calculator to calculate your Mortgage Servicing Ratio (MSR) limit when buying an HDB flat or an Executive Condominium (EC). Under MAS regulations, your monthly home loan repayment cannot exceed 30% of your gross monthly household income.
Mortgage Servicing Ratio (MSR) Calculator
Calculate your maximum borrowing eligibility specifically for HDB flats and new Executive Condominiums (ECs) under Singapore's Mortgage Servicing Ratio (MSR) framework. Your monthly housing loan instalment cannot exceed the designated MSR limit of your gross monthly income.
*Note: This calculation follows standard HDB and new EC criteria where your estimated monthly repayment obligations cannot exceed 30% of eligible calculated gross monthly incomes.
How to Use the MSR Calculator
- Set the MSR Rate: Currently fixed at 30%.
- Gross Monthly Income: Enter the fixed monthly gross income for Applicant 1 and Applicant 2.
- Variable Income (if applicable): Input variable bonuses or commissions (subject to a standard 30% haircut).
- Calculate: View your MSR monthly financing threshold.
How MSR Is Calculated
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Applies to: New HDB BTO flats, HDB resale flats, and new Executive Condominiums (ECs).
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Excludes: Non-property debt obligations like car loans, credit cards, or personal loans (these are assessed under TDSR).
Key Points in the Calculation
- Loan type: The MSR applies regardless of whether you are financing through an HDB Concessionary Loan or a Bank Loan.
- Stress test: Besides MSR, borrowers are also subject to the TDSR framework, which takes into account other existing monthly debts (credit card, personal loan, car loan, etc) for computation.
- Guarantor obligations: If you are a guarantor for another property loan, at least 20% of that monthly obligation must be included in your MSR calculation.
- Gross income: This refers to your income before CPF contributions and personal taxes.
Frequently Asked Questions (FAQ)
Does MSR apply to private condominiums?
No. MSR applies exclusively to HDB flats and new EC purchases. Private properties are governed solely by TDSR (Total Debt Servicing Ratio).
How is variable income treated for MSR?
Variable income (such as bonuses, allowances, and commissions) is subjected to a standard 30% haircut. Only 70% of your variable income is counted towards your gross monthly income calculation.
Need Guidance on HDB Loans vs Bank Loans?
To learn how MSR interacts with Total Debt Servicing Ratio (TDSR) and income assessment guidelines, please refer to our guide on How to Choose a Home Loan in Singapore.
Other Home Financing Calculators
Besides the MSR Calculator, check out our suite of home loan calculators below to help you with your budgeting and affordability assessment:
Property Resources & Market Guides
Meanwhile, below are some property resources and guides that you may find useful: