TDSR/MSR Home Affordability Calculator (Singapore)

MAS (the Monetary Authority of Singapore) caps how much of your income can go toward debt through two rules: the Total Debt Servicing Ratio (TDSR), capped at 55% of gross monthly income across all your debts, and for HDB flats and Executive Condominiums, the stricter Mortgage Servicing Ratio (MSR), capped at 30% for housing alone. Banks also must stress-test your mortgage at a medium-term interest rate floor (currently 4% per annum, or your actual rate if higher) rather than today’s rate, so your eligible loan can be lower than what your actual monthly payment would suggest. This calculator applies all of these rules together to estimate your maximum affordable property price.

TDSR, MSR, and the Stress-Test Rate

TDSR applies to every property loan in Singapore and caps your total monthly debt obligations — including the new mortgage — at 55% of gross monthly income. MSR is an additional, stricter cap that applies only to HDB flats and Executive Condominiums, limiting the mortgage instalment alone to 30% of income. Critically, banks must calculate your eligible instalment using a medium-term interest rate floor (currently 4% per annum, or the actual rate if higher) — not the promotional rate you’re quoted — which is why this calculator shows both an eligibility figure (at the stress rate) and your real expected payment (at your actual quoted rate).

Why HDB/EC Buyers Often Qualify for Less Than Private Buyers

Because MSR caps HDB/EC mortgage payments at 30% versus TDSR’s 55% ceiling for all debts, HDB and EC buyers frequently find their affordable loan is set by the tighter MSR limit rather than TDSR — the “Binding Constraint” result above shows which one applies to your numbers. Private property buyers only face the 55% TDSR ceiling (minus existing debts), which is why the same income and debt profile typically supports a higher private property price than an HDB/EC price.

A Few Practical Notes

This calculator applies a standard 75% Loan-to-Value (LTV) cap for a first housing loan with no other outstanding property loans — LTV limits are lower (typically 45–55%) for a second or subsequent housing loan, which this tool doesn’t model. It also doesn’t account for the Buyer’s Stamp Duty (BSD) or Additional Buyer’s Stamp Duty (ABSD), both of which add meaningfully to your required upfront cash and aren’t included in the down payment figure here. Treat this as a starting estimate and confirm your actual eligibility with a bank or mortgage broker.

Freedom Wealth Lab Apps provides general educational tools, not personalized financial advice. Read our full Disclaimer and Affiliate Disclosure. Data source: MAS (Monetary Authority of Singapore) TDSR/MSR framework.