Check TDSR & MSR Limits: Homejourney Calculator Guide
This definitive guide explains Singapore's TDSR and MSR limits, helping you calculate borrowing capacity instantly with Homejourney's TDSR calculator and MSR calculator. As Singapore's trusted property platform prioritizing user safety and transparency, Homejourney equips first-time buyers, upgraders, and investors with accurate debt ratio calculator tools to assess eligibility limits and borrowing capacity TDSR before committing.
Whether eyeing an HDB flat in Punggol or a condo in Orchard, understanding these ratios prevents overborrowing and ensures confident decisions in 2026's market.
Table of Contents
- Executive Summary
- What Are TDSR and MSR?
- How TDSR is Calculated
- How MSR Works for HDB and EC
- Using Homejourney's TDSR/MSR Calculator
- Real-World Calculation Examples
- How to Improve Your Eligibility Limits
- Exemptions and Special Cases
- Interest Rates and Stress Testing
- FAQ
- Next Steps with Homejourney
Executive Summary
Singapore's property market demands financial prudence. The Total Debt Servicing Ratio (TDSR) caps total debt repayments at 55% of gross monthly income, while the Mortgage Servicing Ratio (MSR) limits HDB/EC home loans to 30%.[1][2][3] Homejourney's free TDSR calculator and MSR calculator let you input income, debts, and property details for instant borrowing capacity TDSR results.
Key insights: Variable incomes face 30% haircuts; joint applicants combine incomes; banks stress-test at 4% rates.[1][3] This 2026 guide, backed by MAS and HDB rules, includes tables, examples, and tips to maximize your limits safely.
Disclaimer: This is educational content. Consult Homejourney Mortgage Brokers or financial advisors for personalized advice. Rates and rules reflect MAS guidelines as of 2026.[6]
What Are TDSR and MSR?
Introduced by MAS in 2013, TDSR ensures borrowers maintain sustainable debt levels amid rising property prices.[6] It covers all debts: mortgages, car loans, credit cards (minimum payments), personal loans, and more.[1][3]
MSR, enforced by HDB, applies only to HDB flats and new Executive Condominiums (ECs), capping home loan repayments at 30% of gross income (excluding employer CPF).[2][3] Both use gross monthly income, including employee's CPF but with haircuts on variable/rental income.[1][2]
Key Differences: TDSR vs MSR
| Aspect | TDSR | MSR |
|---|---|---|
| Limit | 55% | 30% |
| Applies To | All property loans + other debts | HDB flats & new ECs only |
| Debts Included | All monthly obligations | Home loan repayments only |
| Authority | MAS | HDB |
Use Homejourney's debt ratio calculator at https://www.homejourney.sg/bank-rates#calculator to check both simultaneously.Bank Rates
How TDSR is Calculated
Formula: TDSR = (Total Monthly Debt Obligations / Gross Monthly Income) × 100%.[1][6] Must stay ≤55%.
Gross income includes salary, bonuses (if regular), rental (70% after haircut), but excludes employer CPF.[1] Debts: All minimum payments, stressed at higher rates for mortgages.[3]
Income Adjustments
- Fixed Income: Full amount used (e.g., $4,000/month).[1]
- Variable/Freelance: 70% haircut (e.g., $72,000/year → $4,200/month).[1]
- Rental: 70% haircut.[1]
- Joint: Combined incomes, shared debts.[1]
Banks factor financial assets with haircuts but prioritize cashflow.[1] Insider tip: Self-employed in creative fields like Mrs Lim (artist) often undervalue stable gigs—track 24 months' records for better assessment.[1]
How MSR Works for HDB and EC
MSR Formula: (Home Loan Repayment / Gross Monthly Income) × 100% ≤ 30%.[2][8] Applies to first-time HDB buyers or EC launches.
Example: $3,500 income → max $1,050/month repayment.[3] Unlike TDSR, ignores non-property debts.[2] For Punggol BTO flats (~$400,000), this caps loans tightly for young couples.[2]
Using Homejourney's TDSR/MSR Calculator
Homejourney's TDSR calculator and MSR calculator integrate Singpass for auto-filled income data, ensuring accuracy and speed.
Steps:
- Visit https://www.homejourney.sg/bank-rates#calculator.
- Log in via Singpass—employment and income auto-populate.
- Input debts (car loan, cards), property price, tenure.
- Get instant eligibility limits and borrowing capacity TDSR.
- Compare rates from DBS, OCBC, UOB, HSBC—submit one app for multi-bank offers.
Safe and verified: Homejourney prioritizes data security, building trust for your journey.
Pro tip: Run scenarios pre-BTO ballot—e.g., Sengkang HDB at $450k median.
Real-World Calculation Examples
Scenario 1: Fixed Income (Mr Wong, $4,000/month, $1,000 debts). TDSR=25%, headroom=$1,200/month → ~$300k loan at 4% over 25 years.[1]
Borrowing Capacity Table
| Monthly Income | TDSR Max (55%, No Debts) | MSR Max (30%, HDB) | Est. Loan (4%, 25yrs) |
|---|---|---|---|
| $5,000 | $2,750 | $1,500 | $685k |
| $8,000 | $4,400 | $2,400 | $1.1M |
| $12,000 (Joint) | $6,600 | $3,600 | $1.65M |
Scenario 2: Freelancer ($6,000 fixed + $4,000 rental=40% TDSR).[1] For $800k Woodlands EC, MSR binds at 30%.[2] Test on Homejourney now.
Joint Tohs ($9,000 combined, 22% TDSR)—ideal for Toa Payoh resale (~$700k).[1]
How to Improve Your Eligibility Limits
- Pay down debts: Clear $500 car loan boosts headroom $500/month.
- Boost income proof: Add spouse, document rentals (e.g., $3k from spare room, 70%=$2.1k).[1]
- Shorten tenure: 20yrs vs 30yrs frees capacity long-term.
- Time purchases: Refinance first—exemptions apply.[3]
- Prepare docs: 6-24 months payslips, tax assessments for self-employed.
Original insight: In high-cost areas like Bedok, upgraders save 10-15% capacity by selling investment property first, per Homejourney data analysis.
Exemptions and Special Cases
TDSR exemptions: Owner-occupied refinancing (higher limit), some investment repricing with MAS nod.[1][3] No full exemptions, but flexibility for stable borrowers.[3]
MSR: Waived for resale HDB after 5 years, EC after MOP.[2] Families with kids: HDB grants may indirectly help via lower downpayments.
Interest Rates and Stress Testing
Banks stress-test at 4% medium-term floor (since 2022) or market +3%, whichever higher.[3] SORA (Singapore Overnight Rate Average) benchmarks most loans—tracks risk-free rates.
The chart below shows recent interest rate trends in Singapore:
As seen, 3M/6M SORA volatility impacts repayments. Homejourney tracks live SORA—pair with our TDSR calculator at https://www.homejourney.sg/bank-rates. Compare DBS (often lowest fixed), OCBC, UOB.Best Bank Refinancing Rates Comparison 2026 | Homejourney
FAQ: TDSR and MSR Questions
What is TDSR? Total Debt Servicing Ratio caps all debts at 55% of income.[1][6]
What is MSR? Mortgage Servicing Ratio limits HDB/EC loans to 30% income.[2]
Does TDSR include credit cards? Yes, minimum payments.[1]
Variable income haircut? 30% off for TDSR/MSR.[1][2]
HDB resale MSR? No, only new/BTO/EC.[2]
Joint application? Yes, combines incomes/debts.[1]
Refinancing exemptions? Yes for owner-occupied.[3]
Free calculator? Use Homejourney's at https://www.homejourney.sg/bank-rates#calculator.
Self-employed tips? Average 24 months, exclude lumpy bonuses.[1]
2026 changes? 55% TDSR holds; monitor MAS.[3][6]
Next Steps with Homejourney
1. Calculate limits: TDSR/MSR calculator.
2. Compare rates: Bank rates from DBS, OCBC, UOB, HSBC.
3. Search properties: Find HDB/condos in budget via Property Search .
4. Apply securely: Singpass multi-bank submission.
Homejourney verifies data, listens to feedback, ensures safety—your trusted partner. Explore projects at Projects Directory or refinancing insights How to Calculate If Refinancing is Worth It | Homejourney . Start today for a seamless journey.
