What’s Your Bank Loan Eligibility?
With New Cooling Measures implemented on 30th Sept 2022, the effective interest rate factor used to calculate Bank Loan Eligibility had changed from 3.5% to 4%. This is to ensure a prudent borrowing and healthy property market. In a nutshell, your loan eligibility is reduced by 4-6% after the new formula. Not forgetting, your age will be increased +1 starting 1st Jan 2023.
We provide here a mortgage calculator based on latest guideline by MAS (Monetary of Singapore) to have you have a quick check on loan eligibility. Shall you need more help/ clarification, do feel free to approach us for further assistance.