To determine your loan details for a 25-year loan tenure with an $8,000 income, you can use the Total Debt Servicing Ratio (TDSR) framework. The TDSR should be less than or equal to 55% of your gross monthly income.
For an $8,000 income:
- Maximum allowable monthly debt repayment: $8,000 * 55% = $4,400
You can calculate your specific loan amount using
EdgeProp’s calculator.
