Mortgage & Financing · 2026
How much house can I afford on an $8k, $12k or $15k salary?
By Winfred Quek · 10 minute read · Last reviewed July 2026
Reviewed 13 October 2026 · Sources linked below
Key Takeaways
- TDSR: total monthly debt payments capped at 55% of gross monthly income (MAS).
- MSR: HDB and EC mortgage instalment capped at 30% of gross monthly income (MAS).
- HDB loan rate: 2.60% per annum for 1 October to 31 December 2026 (HDB).
- Each $1,000 a month of other debt reduces the qualifying private loan by about $210,000 at the stated assumptions.
How the limits work
For a private property loan, total monthly debt payments, including the new mortgage, must not exceed 55% of gross monthly income. For HDB flats and ECs, the mortgage instalment must not exceed 30% of gross monthly income (MAS).
Private property at three income levels
Method: the monthly limit is 55% of gross income, converted to a loan at a 4% stress test rate over 30 years (about $4.77 a month per $1,000 borrowed), then divided by 75% for the property price. No other debts are assumed.
| Gross monthly income | Monthly limit (55%) | Maximum loan | Property price at 75% LTV |
|---|---|---|---|
| $8,000 | $4,400 | about $922,000 | about $1.23 million |
| $12,000 | $6,600 | about $1.38 million | about $1.84 million |
| $15,000 | $8,250 | about $1.73 million | about $2.30 million |
HDB flats
For an HDB flat the mortgage instalment is capped at 30% of gross monthly income. At $8,000 a month that is $2,400, which supports a loan of about $529,000 at 2.60% over 25 years.
Other debts
Other monthly debt payments reduce the amount that can be borrowed under the TDSR. At the same assumptions, each $1,000 a month of other debt reduces the qualifying private loan by about $210,000.
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Frequently asked questions
What is the difference between TDSR and MSR?
TDSR caps total monthly debt payments at 55% of gross monthly income for property loans. MSR caps the mortgage instalment at 30% of gross monthly income and applies to HDB flats and ECs.
How does age affect how much I can borrow?
MAS applies lower loan to value limits where the loan runs beyond the borrower's age of 65, so the loan available can be lower for an older borrower.
Sources & References
How does this apply to your own numbers?
General rules only take you so far. What actually decides your move is your financing, your timeline, and what you already own. A Property Portfolio Analysis maps your real position, so you are deciding on your own figures rather than a rule of thumb.
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