EC Loan Eligibility Income Ceiling 2026: Bank Rates Guide | Homejourney
The EC income ceiling for new Executive Condominiums (ECs) in Singapore remains at $16,000 monthly gross household income in 2026, targeting middle-income families for bank-financed purchases under strict MSR (30%) and TDSR (55%) rules.[1][2]
This cluster article dives into EC loan eligibility income ceiling and requirements, with a bank rate comparison to help you secure the best financing. It supports our pillar guide on EC执行共管公寓融资完整指南：Homejourney权威EC房贷攻略 ">EC执行共管公寓融资完整指南, providing tactical steps for approval via Homejourney's trusted tools.
EC Eligibility Overview: Who Can Buy EC?
EC eligibility requires a Singapore Citizen (SC) household with at least one other SC or Permanent Resident (PR), aged 21+ for families or 35+ for singles under Joint Singles Scheme (new ECs only).[1][2]
No private property ownership in the last 30 months, and no more than one prior subsidized flat (HDB/DBSS/EC). Second-timers pay resale levies. A 5-year Minimum Occupation Period (MOP) applies from key collection.[1]
EC income ceiling: Combined gross monthly income ≤$16,000 for new EC subsidies. Self-employed use 12-month average; bonuses prorated. Exceeding this? Opt for resale/privatised ECs with no ceiling.[1][2]
| Criteria | Requirement |
|---|---|
| Citizenship | SC + SC/PR family nucleus |
| Age | 21+ (families); 35+ singles |
| Income Ceiling | $16,000/month |
| Ownership | No private prop (30m); ≤1 subsidized flat |
| MOP | 5 years |
Disclaimer: Rules per HDB; use Homejourney's calculator for personalized checks at https://www.homejourney.sg/bank-rates#calculator.[1]
Key EC Loan Requirements Explained
ECs require bank loans only (no HDB loans): Age 21+, stable job (3-6 months salaried), credit score ≥600, max tenure age+65 or 30 years.[1][2]
Downpayment: 25% (5% cash, 20% CPF/cash). LTV: 75% first-timers. MSR ≤30% income (pre-MOP); TDSR ≤55% all debts post-MOP, stress-tested at 4%.[1][2]
Self-employed: Audited accounts, 12-month average. Homejourney's Singpass auto-fills income/employment for faster In-Principle Approvals (IPAs).
- Income docs: 3-month payslips, employer letter, CPF 15 months.
- Self-employed: IRAS NOA, ACRA profile, 12-month bank statements.
- Debts: Declare car loans, cards – impacts TDSR.
Compare partners like DBS, OCBC, UOB at https://www.homejourney.sg/bank-rates for best rates.[1]
EC Income Ceiling and Borrowing Examples
For $16,000 income, MSR caps housing at $4,800/month. At 3% rate, borrow ~$1.3M (30-year tenure).[1][5]
| Household Income | MSR Limit (30%) | Max Loan (~3% rate, 30y) |
|---|---|---|
| $12,000 | $3,600 | $975,000 |
| $16,000 | $4,800 | $1.3M |
Example: SC couple, $14,000 income, $1.2M EC. Loan $900K (75% LTV), monthly ~$3,800 (fits MSR). Add $1,000 car loan? TDSR pushes limit – check via Homejourney.[1][2]
Bank Rate Comparison for EC Loans
Homejourney partners with DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, Citibank. Most offer 3M SORA packages (current ~3.0-3.5%).[1]
DBS/OCBC: Strict TDSR, low fixed intro. HSBC: Flexible for PR spouses. Maybank: Self-employed friendly.
Visit https://www.homejourney.sg/bank-rates – submit one app via Singpass, get offers from all. Track SORA for timing.
SORA is Singapore's benchmark rate for floating loans. The chart below shows recent interest rate trends in Singapore:
Rates stabilized in 2026; lock fixed if expecting hikes. Homejourney's real-time tracker helps.[1]
How to Improve EC Loan Eligibility
- Boost income: Time post-bonus; spouses add stable jobs.
- Reduce debts: Pay off cards/car loans pre-IPA.
- Prepare docs: Use Homejourney Singpass for auto-fill.
- Check eligibility: Instant calc at https://www.homejourney.sg/bank-rates#calculator.
- Compare banks: One Homejourney app to all partners.
Insider tip: Apply 1-2 months pre-ballot; ECs like Woodlands EC suit $1M budgets.[5] Search via https://www.homejourney.sg/search.
Read more: EC Loan Eligibility Income Ceiling 2026: Boost Approval Odds | Homejourney ">EC Loan Eligibility Income Ceiling 2026: Boost Approval Odds.[1]
FAQ: EC Loan Eligibility Income Ceiling and Requirements
What is the EC income ceiling in 2026?
$16,000/month gross household for new ECs. Resale: None.[1][2]
Who can buy EC under EC requirements?
SC family nucleus, ≤$16K income, no recent private prop.[1]
EC loan downpayment?
25% (5% cash).[1]
Self-employed EC eligibility?
12-month average, audited proofs. Homejourney verifies safely.[2]
Best banks for EC loans?
Compare DBS/OCBC/UOB/HSBC on Homejourney bank-rates.[1]
Secure your EC dream safely with Homejourney – calculate eligibility, compare rates, and apply via Singpass today at https://www.homejourney.sg/bank-rates. Trust our verified platform for transparent financing. Link back to pillar: EC执行共管公寓融资完整指南：Homejourney权威EC房贷攻略 ">EC完整指南.
