Concept
Mortgage Servicing Ratio (MSR)
MSR limits your monthly home-loan repayment alone to 30% of gross monthly income — on top of TDSR.
What MSR is
The Mortgage Servicing Ratio is a stricter, narrower limit than TDSR. It looks only at the home-loan instalment — not your other debts — and caps it at 30% of gross monthly income.
When MSR applies, your loan is limited by whichever of TDSR (55% of income, all debts) and MSR (30% of income, mortgage only) bites first.
When MSR applies
| Property | MSR applies? |
|---|---|
| HDB flat (BTO or resale) | Yes |
| Executive Condo bought from the developer | Yes |
| Executive Condo resale after MOP | No |
| Private condo or landed | No — TDSR only |
Frequently asked questions
What is the MSR limit in Singapore?
30% of gross monthly income. Only the home-loan instalment counts — it is a separate, tighter test than TDSR, which allows 55% for all debts combined.
Does MSR apply to private property?
No. MSR applies only to HDB flats and to Executive Condominiums bought directly from the developer. Private condos and landed homes are subject to TDSR only.
Do I have to pass both TDSR and MSR?
Yes, where MSR applies. Your maximum loan is set by whichever limit is lower for your situation.