Fablewoode Residences EC Affordability Calculator

This EC affordability calculator for Fablewoode Residences runs the two tests a bank applies to an executive condominium loan at once, the 30% mortgage servicing ratio and the 55% total debt servicing ratio, reports which one decides the loan, checks the household against the S$16,000 income ceiling that applies to this site, and finds the CPF Housing Grant tier. The rules behind it are explained on the housing loan information page.

How the Fablewoode Residences Loan Is Worked Out

Assessed income is fixed salary in full plus 70% of variable income such as bonuses, averaged over the year. Thirty per cent of it may go to the housing loan; 55% may go to all debts together, so card minimums, car and other loan repayments come off the 55% first. The calculator converts each allowance into a loan at the MAS medium-term rate, the higher of 4% or the rate entered, over a tenure of 30 years or until the income-weighted average age reaches 65, whichever is shorter, and takes the smaller of the two.

That tenure keeps the household on the 75% loan-to-value limit with a 5% cash minimum for a first housing loan. Dividing the loan by 75% gives the price the loan supports at that limit; the remaining 25% comes from cash, CPF savings and any grant.

Reading the Result for Fablewoode Residences

If the household income is above S$16,000 a month, the result is flagged: the ceiling for this site is fixed by its tender date and the household would not be eligible to buy. A second-timer household sees the S$55,000 resale levy, and a first-timer family the grant tier for its income and citizenship. HDB confirms eligibility and the grant on application; a bank’s in-principle approval confirms the loan.

Stack this result with the instalments on the progressive payment calculator and the duty on the stamp duty calculator, or ask the Sales Concierge to go through the figures before the preview.