Below is a summary of the rules on maximum limits for new housing loans. if you have no outstanding home loans). Malaysia Housing Loan Interest Rates: Base Lending Rate (BLR) = 6.6% Maximum Loan Amount = 90% of property price. The loan-to-value (LTV) limit determines the maximum amount an individual can borrow from a financial institution (FI) for a housing loan. Apply for a UOB Property Loan online and obtain instant approval 1 within minutes.. This formula calculates their average age as it relates to their ability to repay the loan: The maximum loan tenure cannot exceed 30 years for HDB flats and 35 years for private properties, but the actual tenure that you’re offered may be shorter depending on your age and the years left on your property. 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Renovation loans are limited to 6 times your monthly income or S$30,000, whichever is lower. The maximum amount that an individual can borrow for a housing loan based on the loan tenure, borrower’s age, borrower’s existing … This formula calculates their average age as it relates to their ability to repay the loan: (Borrower 1's Age * Borrower 1’s gross monthly income / (Total of Borrower 1 and 2’s gross monthly incomes)) + (Borrower 2’s Age * Borrower 2’s gross monthly income / (Total of Borrower 1 and 2’s gross monthly incomes)). Take note that there’s usually a minimum loan amount as well, usually S$10,000. 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Joint borrowers are assessed using an income-weighted average age. Meanwhile, LTV limits will be tightened by 5 percentage points for all housing loans granted by financial institutions, the release stated. For loans on residential properties where the OTP is granted on or after 6 July 2018, the following LTV limits apply: Apply the lower LTV limit if the loan tenure exceeds 30 years (or 25 years for HDB flats), or the loan period extends beyond the borrower’s age of 65 years. First, your loan tenure can never exceed 35 years. Details are shown below. If you have no existing home loan: Your minimum cash downpayment is 5% if the loan tenure doesn’t exceed 30 years and the borrower’s age doesn’t extends past age 65 during the loan’s maturity. Term Loan - This home loan allows you to have a maximum loan tenure of 35 years. These measures will impact on housing loans granted by Financial Institutions for both HDB properties and private residential properties : The rules will apply to new loans granted to individuals and non-individual borrowers, if the date when the option to purchase was granted or, where there is no option to purchase, the date of the sale and purchase agreement, is on or after 6 October 2012. The revised LTV limit for first mortgage loan is 75% of the property price, the longest loan tenure granted is 30 years or 65 years minus age of borrowers, whichever is shorter. The loan-to-value (LTV) limit determines the maximum amount you can borrow for a housing loan. Fill in your details in the calculator below to calculate your maximum loan under the TDSR framework. For example, if an individual borrows $800,000 to purchase a property valued at $1,000,000, the LTV is 80%. The minimum Cash Downpayment is set at 25% 20% Maximum LTV for non individuals applies. 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