Comparison of Current Loan Limits and Loanable Amounts After Regulation Takes Effect
#Kim, a 30-something office worker, recently started planning a move and was considering taking out a loan. Upon hearing that the Debt Service Ratio (DSR) regulation would be strengthened starting next month, Kim found herself in a dilemma. After using the Finda DSR calculator, she confirmed that her loan limit would decrease next month compared to now, and immediately proceeded to take out a loan.
Finda, a fintech company specializing in loans, announced on the 5th that it has revamped and released the "DSR Calculator 2.0" ahead of the implementation of the third-stage stress DSR regulation.
The key feature of the new calculator is that it allows users to compare the amount they can borrow before and after the application of the third-stage stress DSR, based on user input. When users attempt a DSR calculation, the tool displays both the current loanable amount and the reduced amount starting next month, when the third-stage stress DSR takes effect.
The Finda calculator enables users to directly assess the extent of the change, helping them decide whether they should take out a loan now or if it is better to wait.
Finda users can freely simulate their loan limits based on their expected interest rates, preferred repayment methods, and repayment periods, allowing them to find the optimal timing for a loan.
Even users without existing loans can check their loanable amount based solely on their income, without linking MyData. Those seeking new loans can also establish their own loan strategies through accurate DSR calculations.
Park Hongmin, co-CEO of Finda, said, "We have reflected the demand from users who want to know exactly how their loan limits will change due to the third-stage stress DSR that will be applied next month," and added, "The Finda DSR calculator will serve as a guide to help users make informed decisions about loans."
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