Foreigner Mortgage Eligibility Singapore Complete: Bank Rate Comparison Guide
Foreigners and expats in Singapore can secure mortgages up to 75% LTV on private properties, but face stricter TDSR limits at 55% of income and higher down payments of 25-40% in cash, without CPF usage.
At Homejourney, we prioritize your safety and trust by verifying eligibility data and offering instant comparisons from DBS, OCBC, UOB, HSBC, and more via our secure bank rates page. This cluster guide dives into bank-specific rates and eligibility, linking back to our pillar Foreigner Mortgage Eligibility Singapore: Complete 2026 Guide for full coverage.
Foreigner Mortgage Eligibility Criteria in Singapore
Eligibility starts with age: minimum 21 years, maximum loan tenure to age 65. Banks assess stable income via payslips, tax returns (IR8A), and bank statements for the last 3 months; self-employed face a 30% income haircut, so S$10,000 monthly becomes S$7,000 for TDSR calculations.
Key metric: Total Debt Servicing Ratio (TDSR) capped at 55% of gross income for all debts, including the new mortgage at prevailing SORA rates plus margin. For HDB/EC, MSR adds a 30% limit. Credit history via Credit Bureau Singapore is crucial—offshore foreigners need strong net worth proof.
PRs (Permanent Residents) enjoy slightly better terms like higher LTV up to 80% on first properties, while non-residents pay 60% ABSD unless exempt (e.g., US citizens under FTA).
LTV Limits and Down Payment Realities for Expats
First-time foreigner buyers get up to 75% LTV (25% down payment), dropping to 45% if you have an existing loan, per MAS rules. No CPF for foreigners means full cash down payment—expect S$500,000 cash for a S$2 million condo in areas like Orchard or Tanjong Pagar.
UOB confirms: new purchase up to 75% of lower purchase price or valuation; refinancing up to 90% of market value or 100% of outstanding loan. OCBC requires minimum S$300,000 loan for private properties, age 21+ for all applicants.
- Non-PR Foreigner: 75% LTV max, 25% cash down.
- PR Home Loan: Up to 80% LTV first property, CPF usable.
- Expat Mortgage Tip: Get In-Principle Approval (IPA) first via Homejourney's calculator at https://www.homejourney.sg/bank-rates#calculator to know your limit before viewing properties on https://www.homejourney.sg/search.
TDSR and MSR Calculations with Real Examples
Assume S$15,000 monthly income, current car loan S$800/month. At 3M SORA + 0.5% margin (current ~3.5% effective), monthly mortgage payment on S$1.5M loan (30 years) is ~S$6,700. TDSR: (S$6,700 + S$800)/S$15,000 = 49.3%—approved under 55%.
Self-employed example: S$20,000 declared income (haircut to S$14,000). Max debt S$7,700/month. Borrowing power drops ~30%. Use Homejourney's TDSR calculator to simulate—Singpass auto-fills for accuracy.
| Monthly Income (Post-Haircut) | Max Monthly Debt (55% TDSR) | Est. Max Loan (30Y, 3.5% Rate) |
|---|---|---|
| S$10,000 | S$5,500 | S$1.35M |
| S$15,000 | S$8,250 | S$2.03M |
| S$20,000 | S$11,000 | S$2.7M |
Insider tip: Factor in MRTA insurance (~S$1,000/year per S$100k loan) mandated by most banks.
Current Bank Rates Comparison for Foreign Buyers
As of January 2026, foreigner rates hover 0.2-0.5% above citizen packages due to risk. SORA-based floating rates dominate: DBS offers PIBS + 0.65% (~3.45%), OCBC EIR 3.39% fixed 2Y, UOB up to 75% LTV with competitive margins. HSBC suits expats with global income assessment; Standard Chartered for high-net-worth.
The chart below shows recent interest rate trends in Singapore:
Rates stabilized post-2025 hikes; lock fixed now if buying in cooling market. Compare live at Homejourney's bank rates page—one click submits to DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, Citibank.
Actionable Steps to Secure Your Foreign Buyer Loan
- Get IPA: Use Homejourney Singpass integration for instant eligibility—data auto-fills, results in minutes.
- Prepare Docs: Passport, 3-month payslips, IR8A, OTP from property search. Self-employed: 2Y tax + net worth.
- Compare Rates: Homejourney aggregates partners; apply once for multi-offers.
- Improve Odds: Pay down debts, show 1Y Singapore employment. See Foreigner Mortgage Eligibility Singapore: How to Improve Approval Chances.
- Post-Approval: Budget for valuation (S$500-1,000), stamp duties. Maintain property with aircon services.
Disclaimer: Rates fluctuate; this is not financial advice. Consult Homejourney Mortgage Brokers for personalized guidance. Homejourney verifies all data for your safety.
FAQ: Foreigner Mortgage Singapore
Can non-residents get a mortgage in Singapore?
Yes, up to 75% LTV on private properties, subject to TDSR 55% and bank approval. Use Homejourney calculator for pre-check.
What's the best bank for expat mortgage?
DBS/OCBC for locals-turned-expats; HSBC for internationals. Compare on https://www.homejourney.sg/bank-rates.
Do PRs get better home loans?
Yes, up to 80% LTV + CPF usage vs foreigners' cash-only 75%.
How to calculate foreigner borrowing power?
Income x 55% TDSR minus existing debts = max payment. Simulate on Homejourney now.
Current SORA rate for foreigners?
See chart above; ~3.0% 3M SORA + bank margin. Track live via Homejourney.
Ready to buy safely? Start with Homejourney's eligibility calculator and bank comparisons at https://www.homejourney.sg/bank-rates. Building trust one verified loan at a time—link back to our complete guide for more.
