Impressions @ Dairy Farm Housing Loan Information

Loan-to-Value limits, the TDSR ceiling and tenure rules governing a Impressions @ Dairy Farm purchase.

Impressions @ Dairy Farm — Loan-to-Value Limits

The Monetary Authority of Singapore sets the maximum a bank may lend against a residential property, by the number of housing loans the borrower is already servicing.

Where the loan tenure exceeds 30 years, or the loan extends beyond the borrower’s age of 65, the LTV limits tighten to 55%, 25% and 15% respectively. Figures are set by MAS and subject to change.

Impressions @ Dairy Farm — Total Debt Servicing Ratio

TDSR caps total monthly debt obligations at 55% of gross monthly income. Every obligation counts — the new housing loan, existing mortgages, car loans, personal loans and credit card minimums. Variable income such as bonus, commission or rental is subject to a haircut of at least 30% before it is counted.

Banks assess the instalment at the higher of the actual rate and the medium-term interest rate floor, currently 4% for residential property. The TDSR calculator applies both.

Impressions @ Dairy Farm — Loan Tenure

The maximum tenure for a private property housing loan is 35 years. For joint borrowers, tenure runs to age 65 on the income-weighted average age, so a younger, higher-earning applicant meaningfully extends both tenure and quantum.

Impressions @ Dairy Farm — Using CPF

CPF Ordinary Account savings may be applied to the downpayment beyond the minimum cash component, to the monthly instalments and, by reimbursement, to stamp duty and legal fees where the balance allows. The minimum cash portion must be paid in cash.

Size the loan on the TDSR calculator, then map the staged cash requirement on the progressive payment calculator. Duty is covered on the stamp duty page.