Housing Loan Information
Rules for financial institutions (FIs) on new housing loans, including maximum limits on loan tenure, loan-to-value ratio, mortgage servicing ratio and total debt servicing ratio.
First Loan | Second Loan | Third Loan | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Tenure | Up to 30 years | 31-35 years | Up to 30 years | 31-35 years | Up to 30 years | 31-35 years | |||
| Age | Age used to calculate loan tenure, will be based on income-weighted | ||||||||
Up to 65 | Up to 70-75 | Up to 70-75 | Up to 65 | Up to 70-75 | Up to 70-75 | Up to 65 | Up to 70-75 | Up to 70-75 | |
| Maximum LTV Limit | 75% | 55% | 55% | 45% | 25% | 25% | 35% | 15% | 15% |
20% (non-individuals) | |||||||||
| Minimum Cash Down-Payment | 5% | 10% | 10% | 25% | 25% | 25% | 25% | 25% | 25% |
| Guarantors / Co-borrowers | All Co-borrowers must be mortgagors. | ||||||||
| Mortgage Servicing Ratio | N/A | ||||||||
| Total Debt Servicing Ratio | 55% | ||||||||
| Stress Test Interest Rate | 4.75% | ||||||||
w.e.f 6 July 2018
References:
1. Rules for New Housing Loans https://www.mas.gov.sg/regulation/explainers/new-housing-loans
