Anonymous

26 May 2020

∙

Will personal loans affect housing loans? If so, how much?

I am a little short on the cash for the down payment of buying a house, I want to apply for a personal loan to cover it. Will it affect my overall housing loan?

Thanks!

2

Discussion (2)

What are your thoughts?

Learn how to style your text

Wrong Sean

26 May 2020

Yes, the personal loan will be count in the total debt servicing ratio (TDSR) threshold of 60%.

Monthly debt obligations count towards calculating a borrower's TDSR. For example, if a borrower has existing monthly debt obligations equal to 10% of their monthly income, then the maximum amount they can get for a property loan is based on 50% of their monthly income.

So depending on the monthly repayment amount on the personal loan, the amount that you can borrow for your housing loan is adjusted.

https://www.mas.gov.sg/regulation/explainers/td...

Reply

Save

View 1 replies

Write your thoughts

Related Posts

Hi. i forgot my personal loan payment and incurred a late charge. i have since made payment. Will 1 late charge affect my credit bureau for housing loan?

How much do I need to repay the bank for a $750000 property loan if I sell my house after 5yrs for a 30yr loan?

A 31 year old. 2 dependants. Wife 28 yr and daughter 8 mnths. Never had insurance before. I dont own a house yet. 2.6k basic and after cpf and personal loan bring hm 1650. Any advise on the best plan?

Does being a guarantor for one affect the application of housing loans in the future? What are the possible implications of it?

My Husband earns 12k a month and I earn 6k a month. We have a housing loan of 1.5million, and have two young kids. Should we each get life insurance? How much should we insure for respectively?

Related Products

OCBC EasiCredit Personal Loan

4.4

17 Reviews

OCBC EasiCredit (Annual Income S$20,999 - S$29,999)

36%

EFFECTIVE INTEREST RATE

29.8%

FLAT INTEREST RATE

$0

PROCESSING FEE

DBS Cashline Loan

3.0

3 Reviews

HSBC Personal Loan

4.0

2 Reviews

Related Posts

Hi. i forgot my personal loan payment and incurred a late charge. i have since made payment. Will 1 late charge affect my credit bureau for housing loan?

How much do I need to repay the bank for a $750000 property loan if I sell my house after 5yrs for a 30yr loan?

A 31 year old. 2 dependants. Wife 28 yr and daughter 8 mnths. Never had insurance before. I dont own a house yet. 2.6k basic and after cpf and personal loan bring hm 1650. Any advise on the best plan?

Does being a guarantor for one affect the application of housing loans in the future? What are the possible implications of it?

My Husband earns 12k a month and I earn 6k a month. We have a housing loan of 1.5million, and have two young kids. Should we each get life insurance? How much should we insure for respectively?