Mortgage Servicing Ratio (MSR) Rule
Unlike private property which uses the 55% TDSR cap, EC loans are strictly governed by a 30% Mortgage Servicing Ratio (MSR). This means your monthly home loan payment cannot exceed 30% of your gross monthly household income. For example, a household earning $12,000 can allocate at most $3,600 monthly towards their mortgage.
Normal Progressive Payment Schedule (NPS)
NPS follows specific construction milestones:
- Booking: 5% Cash Option Fee
- Within 9 Weeks: 15% Cash/CPF Downpayment + Buyer Stamp Duty
- Foundation: 10% Progressive Loan Disbursement
- Concrete Structure: 10% Progressive Loan Disbursement
- Brickwalls: 5% Progressive Loan Disbursement
- Roofing: 5% Progressive Loan Disbursement
- Plumbing/Electrical: 5% Progressive Loan Disbursement
- TOP (Key Collection): 25% Progressive Loan Disbursement
- CSC (Legal Completion): 15% Progressive Loan Disbursement