The Complete Guide on Financing an EC or Condo

When buying an EC or Condo in Singapore, there were cases whereby buyers had to forfeit deposit because they found they were unable to get sufficient loan from banks. In other cases, buyers realized they didn't factor in resale levy till they talked to a professional real estate agent. Such cases go on and on.

This complete guide on financing an EC or condo assists you to familiarize the financing part so that you can be better prepared before, during and after the property purchase.

Even better, you are armed with calculators. With these tools, you can easily figure out the maximum loan amount to take, highest property price within budget, the down payment, and subsequent monthly installment.

Since EC is under HDB and condo is under private developers, it is essential to separate this guide into 2 sections.

EC

EC loan is subject to MSR (Mortgage Servicing Ratio). MSR is capped at 30% of all borrowers' gross monthly income.

Use MSR-based calculator

Condominium

EC loan is subject to TDSR (Total Debt Servicing Ratio). TSDR is capped at 60% of all borrowers' gross monthly income.

Use TDSR-based calculator

Common Tools

Rental Yield CalculatorRental yield measures the profitability of a property when you rent it out.