What can be recognize as income for housing loan application?
Other than salary, self-employed income and foreign income. These are the other sources of income.
What debts affect your loan application?
- Property-related loans, including the loan being applied for
- Car loans
- Student loans
- Renovation loans
- Credit card loans
- Any other secured or unsecured loans, including revolving loans
What is TDSR and MSR?
Total commitment/ Total income ≤ 60%
Applicable to housing loan, re-financing and equity loan
Potential Mortgage liability ≤ 30% combined income
Applicable to HDB flats and EC units purchased directly from developer