DEBT SERVICE RATIO FORMULA
>>Income Per Month
Gross Income: RM5,500
Total Deduction: RM864.75
Nett Income: RM5,500.00 – RM864.75 = RM4,635.25
- New Loan / Financing = A
- Car Loan = B
- Personal Loan = C
- Credit Card Use = Credit Limit × 5% = D
|New Loan / Financing||RM1500.00||–|
|Credit Card||RM150.00||RM3000 × 5%|
Total Commitment: RM2,900.00
CASE 1: Nett Income below RM3,000, max. DSR qualification is 60%(Estimated)
CASE 2: Nett Income RM3,000 and above, max. DSR qualification is 75%. (Estimated)
DSR = (RM2900 ÷ RM4635.25) × 100 = 62.56%
Based on Case 2,
62.56% is within the maximum DSR qualification range (1% – 75%), so theoretically it’s QUALIFIED for the housing loan.
This is just for the reference only.However, different bank has different DSR. Some people got more than the max. DSR qualification, but still got their loan approved by the bank.
Kindly Contact MTI Mortgage Consultants for further detail.
Our Consultant will provide the best opinion to you.
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