TDSR & MSR Calculator: Check Singapore Borrowing Limits | Homejourney
This definitive guide explains Singapore's TDSR and MSR limits, helping you calculate borrowing capacity with Homejourney's free TDSR calculator and MSR calculator. Discover eligibility limits, real examples, and steps to maximize your home loan quantum safely through our trusted platform.
Homejourney prioritizes your financial safety with transparent tools verified against MAS regulations, ensuring confident property decisions in Singapore's competitive market.
Table of Contents
- Executive Summary
- What Are TDSR and MSR?
- Who Do TDSR and MSR Apply To?
- How to Calculate TDSR and MSR
- Using Homejourney's TDSR/MSR Calculator
- Real-World Examples and Tables
- Interest Rate Stress Test Explained
- How to Improve Your Eligibility Limits
- 5 Common Mistakes to Avoid
- HDB vs Private Property Differences
- TDSR/MSR for Refinancing
- Frequently Asked Questions
- Next Steps with Homejourney
Executive Summary
Singapore's TDSR (Total Debt Servicing Ratio) caps total debt repayments at 55% of gross monthly income, while MSR (Mortgage Servicing Ratio) limits housing loan repayments to 30% for HDB flats and new ECs. These MAS rules prevent over-borrowing amid high property prices.
Homejourney's TDSR calculator and MSR calculator provide instant, accurate borrowing capacity assessments, factoring in your debts, income, and stress-tested rates. Use our eligibility calculator today for personalized results, verified for safety and trust.
This 2026 guide draws from MAS guidelines, HDB rules, and real Singapore buyer scenarios to deliver actionable insights. Whether you're a first-time HDB buyer in Punggol or upgrading to a condo in Orchard, understand your limits to buy confidently.
What Are TDSR and MSR? Key Definitions
TDSR: Total Debt Servicing Ratio
TDSR measures all monthly debt obligations against gross monthly income, capped at 55% since December 2021. It includes mortgages, car loans, credit cards, and more, stress-tested at 4% interest or prevailing rates.[7][2]
Formula: (Total Monthly Debt Obligations / Gross Monthly Income) x 100% ≤ 55%.[7] Banks use this for all property loans, ensuring holistic financial health.
MSR: Mortgage Servicing Ratio
MSR caps housing loan repayments at 30% of gross income (excluding employer CPF) for HDB flats and new ECs. It ignores non-housing debts, applying to both HDB and bank loans.[1][2]
Variable income counts at 70%. Example: $10,000 fixed + $5,000 variable = [$10,000 + (0.7 x $5,000)] x 30% = $4,050 monthly limit.[2]
Homejourney's debt ratio calculator computes both instantly, helping you navigate these rules transparently.
Who Do TDSR and MSR Apply To?
- HDB Buyers: Both TDSR and MSR for all flats (BTO, resale).[1][3]
- New EC Buyers: Both apply until EC privatizes.
- Private Property (Condos/Landed): TDSR only.[3]
- Resale EC: TDSR only, no MSR.[1]
- Refinancers: TDSR may be waived for owner-occupied if not increasing exposure.[2]
Singles, couples, families—all assessed on combined income. Self-employed use 1-2 years' average; foreigners face stricter LTV/age rules via HDB/URA.
Step-by-Step: How to Calculate TDSR and MSR Manually
TDSR Calculation Steps
- List all monthly debts: mortgage + car ($500) + credit card (minimum) + personal loans.
- Add projected new mortgage repayment (stress-tested).
- Divide by gross income (salary + commissions, including employee CPF).
- Multiply by 100%; must ≤55%.[3][7]
MSR Calculation Steps
- Fixed income + 70% variable income.
- Multiply by 30% for housing repayment limit.[1][2]
- Exclude non-housing debts.
Skip manual math—use Homejourney's TDSR/MSR calculator for precise results with Singpass auto-fill.
Using Homejourney's TDSR/MSR Calculator: Instant Eligibility Check
Homejourney's borrowing capacity TDSR tool is your safe, trusted calculator. Enter income, debts, property price via Singpass—get limits in seconds.
- Auto-fills income/employment from MyInfo.
- Compares rates from DBS, OCBC, UOB, HSBC, Standard Chartered instantly.
- Shows max loan quantum under current SORA trends.
- Submit one application to all partners: Maybank, CIMB, RHB, more.
Visit Homejourney bank rates for free access. Learn more in our How to Use Homejourney Mortgage Calculator: 5-Min Guide .
Real-World Examples: Borrowing Capacity Tables
For a $800,000 Punggol BTO (2026 avg price), see limits below. Assumptions: 4% stress rate, 25-year tenure, no existing debts unless noted.
MSR Borrowing Capacity Table (HDB/New EC)
| Gross Monthly Income | MSR Limit (30%) | Max Loan Quantum ($1M Property) |
|---|---|---|
| $8,000 | $2,400 | $570,000 |
| $10,000 | $3,000 | $710,000 |
| $12,000 (Joint) | $3,600 | $850,000 |
Example: Software engineer ($6,000 fixed + $2,000 variable) = $6,000 + $1,400 = $7,400 x 30% = $2,220 limit.[2]
TDSR Impact Table (With Existing Debts)
| Income | Existing Debts | TDSR Limit (55%) | Available for Mortgage |
|---|---|---|---|
| $10,000 | $0 | $5,500 | $5,500 |
| $10,000 | $1,000 (Car/CC) | $5,500 | $4,500 |
These tables snippet-optimize for quick scans. Test yours on Homejourney.[1][3]
Interest Rate Stress Test in TDSR/MSR
Banks stress-test at 4% p.a. (or higher if market exceeds), assuming rates rise. SORA (Singapore Overnight Rate Average) benchmarks most loans—track via Homejourney.
The chart below shows recent interest rate trends in Singapore:
As seen, 3M SORA averaged 3.2% in late 2025; stress to 4% reduces quantum by 15-20%. Use our bank rates page for live comparisons from DBS to Citibank.[2]
7 Practical Ways to Improve Your TDSR/MSR Eligibility
- Pay Down Debts: Clear credit cards/car loans first—frees 20-30% capacity.
- Increase Income Proof: Include bonuses/commissions; self-employed average 24 months.
- Extend Tenure: Up to age 65/70 lowers monthly outlay (but raises total interest).
- Larger Downpayment: 20-25% cash reduces loan size.
- Joint Application: Combine spouse income for 50-100% boost.
- Refinance Existing Loans: Consolidate at lower rates.
- Time Purchase: Wait for BTO ballot if MSR tight.
Insider tip: Punggol resale HDBs ($700k avg) suit tighter limits vs $1.5M Tampines condos. Simulate on Homejourney.
5 Common Mistakes Singapore Buyers Make with TDSR/MSR
- Forgetting credit card minimums (add 5% utilization).
- Ignoring variable income haircut (only 70%).[1]
- Underestimating stress rates (4% vs actual 3%).
- Not combining incomes early.
- Overlooking MSR for HDB (double cap).[3]
Homejourney verifies inputs for accuracy, building trust.
HDB vs Private Property: TDSR/MSR Differences
| Aspect | HDB/New EC | Private/Resale EC |
|---|---|---|
| TDSR | Yes (55%) | Yes (55%) |
| MSR | Yes (30%) | No |
| LTV Max | 75-90% | 55-75% |
Search HDB options on Homejourney property search.
TDSR/MSR for Refinancing and Investors
Refinance owner-occupied loans often TDSR-exempt if quantum doesn't rise. Investors face full TDSR. Use Homejourney for multi-bank offers—apply once via Singpass. See Benefits of Multi-Bank Application in One Click | Homejourney .
Disclaimer: This is educational; consult Homejourney brokers or advisors. Rates as of 2026; MAS may adjust.[4]
FAQ: TDSR and MSR Singapore
What is a TDSR calculator?
A tool computing if debts exceed 55% income. Homejourney's free version includes MSR.[3]
Does MSR apply to resale HDB?
Yes, all HDB including resale/BTO.[1]
What if TDSR exceeds 55%?
Rare exceptions need MAS approval; better reduce debts.[2]
Is employer CPF included in MSR?
No, only employee CPF in gross income.[1]
How does variable income affect MSR?
Counted at 70%.[2]
Good TDSR ratio?
30-40% prudent, under 55% compliant.[3]
TDSR for joint applicants?
Combined income/debts.[7]
Does TDSR apply to foreigners?
Yes, plus ABSD/LTV curbs.
Next Steps: Secure Your Home Loan with Homejourney
1. Calculate limits at Homejourney TDSR/MSR calculator.
2. Compare rates: DBS, OCBC, UOB via bank-rates.
3. Apply once—Singpass speeds approval. Details in Step by Step Singpass Loan Application Guide | Homejourney .
4. Search properties: property search.
Homejourney ensures safety through verified data, multi-bank transparency, and user-first service. Start your trusted journey today.
