Foreigner Mortgage Eligibility Singapore Complete: Bank Rate Comparison Guide
Foreigners in Singapore can secure bank mortgages up to 75% LTV for eligible private properties like condos, but must meet strict TDSR (55%) and income thresholds starting at S$24,000 annually. This Homejourney cluster guide provides actionable bank rate comparisons and eligibility steps, linking to our pillar Foreigner Mortgage Eligibility Singapore: Homejourney Complete Guide for full coverage. Trust Homejourney for verified data prioritizing your safety in property financing.
Foreigner Mortgage Eligibility Overview in Singapore
Foreigners, including expats and non-residents, qualify for bank loans on private properties such as condominiums, strata-landed homes in approved developments, or Sentosa Cove landed properties, but cannot access HDB flats or most resale HDB unless as PRs with restrictions.[3][1] Banks like DBS, OCBC, UOB, HSBC, and Standard Chartered assess eligibility based on age (21-65), stable income, credit score, and employment history.[4][6] Homejourney verifies this through official MAS and bank guidelines, ensuring transparent advice in a trusted environment.
Key distinction: PRs (Permanent Residents) enjoy slightly better terms like higher LTV on resale ECs over 5 years MOP, while non-PR foreigners face 60% ABSD but can finance up to 75% LTV on private homes.[3] Use Homejourney's eligibility calculator at https://www.homejourney.sg/bank-rates#calculator to check instantly with Singpass auto-fill for faster, secure pre-approval.
Key Requirements for Foreigner Mortgages
Minimum income is S$24,000 p.a. for singles (higher for some banks), proven via 3-6 months payslips, bank statements, NOA, and passport.[1][2][4] TDSR caps total debt at 55% of gross income (using 3.5% stress rate), MSR at 30% for HDB/EC (PRs only).[4] Loan tenure maxes at 30-35 years, not exceeding age 65.[4][8]
- Documents: Passport, visa/EP, payslips, bank statements, OTP/Sales Agreement, credit report.[1][2][7]
- Credit: Strong score essential; offshore foreigners need net worth proof.[2]
- Downpayment: 25% minimum (5% cash + 20% CPF/cash), stricter for non-residents.[3]
Homejourney's multi-bank system lets you submit one application to DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank for competitive offers.
TDSR and MSR Calculation Examples
For a S$10,000 monthly income expat earning fixed salary: TDSR allows S$5,500 total debt. At 3.5% stress rate on S$1.5M loan (75% of S$2M condo), monthly repayment ~S$6,700 exceeds limit if other debts exist—adjust tenure or income.[4]
| Monthly Income | Max TDSR Debt (55%) | Est. Max Loan (30yr, 3.5%) |
|---|---|---|
| S$8,000 | S$4,400 | S$1.05M |
| S$12,000 | S$6,600 | S$1.58M |
| S$15,000 (w/ car loan S$1,000) | S$7,250 | S$1.73M |
Examples based on MAS rules; calculate yours via https://www.homejourney.sg/bank-rates.[4]
Current Bank Rate Comparison for Foreigners
SORA-based floating rates dominate (2.5-3.2% as of late 2025), fixed packages 2.8-3.5% for 2-3 years. Foreigners get similar rates to locals but tighter scrutiny.[6] Compare via Homejourney:
- DBS: 2M SORA + 0.6% (~2.9%)[7]
- OCBC: 3M SORA + 0.5% (~2.8%), min S$300K private[6]
- UOB: Competitive floating, age 21-65[8]
- HSBC/Standard Chartered: Expat-friendly, up to 75% LTV
- Maybank/CIMB/RHB: Lower rates for high-income foreigners
The chart below shows recent interest rate trends in Singapore:
Rates have stabilized post-2024 hikes; track live SORA on Homejourney for timing your lock-in.[4]
Steps to Improve Your Foreigner Mortgage Eligibility
- Boost Income Proof: Gather 6+ months payslips; self-employed use audited accounts.[2]
- Reduce Debts: Pay down cards/loans to free TDSR space—aim under 40% utilization.
- Get PR Status: Improves LTV/MSR access for resale HDB/EC.[3]
- Pre-qualify Early: Use Homejourney's tool for IPA before OTP; Singpass speeds verification.
- Compare & Apply: Submit via https://www.homejourney.sg/bank-rates for multi-bank offers.
Insider tip: Apply end-month when CPF credits boost statements. For properties, search budgets at https://www.homejourney.sg/search or Projects .
Why Choose Homejourney for Expat Mortgages
Homejourney prioritizes your safety with verified bank partnerships, one-click multi-bank applications, and real-time TDSR calculators. Unlike others, we auto-fill via Singpass, connect you to brokers, and track SORA—building trust through transparency. Read more in our Foreigner Mortgage Eligibility: Boost Approval Odds.
Disclaimer: Rates fluctuate; this is general info per MAS/HDB 2025 rules. Consult Homejourney brokers or advisors for personalized advice. Not financial advice.
FAQ: Foreigner Mortgage Singapore
Can non-residents get 75% LTV mortgages?
Yes, on private properties like condos; 25% downpayment required (5% cash).[3]
What documents for expat home loans?
Passport, EP, 3 months payslips, bank statements, NOA, OTP.[1][2]
PR vs foreigner mortgage differences?
PRs access resale HDB/EC with MSR; foreigners limited to private bank loans.[3]
How to compare bank rates safely?
Use Homejourney's bank-rates page for DBS/OCBC/UOB comparisons and Singpass applications.
Current best rates for foreigners?
~2.8-3.2% SORA-based; check Homejourney for live updates and eligibility.
Ready to secure your foreigner mortgage Singapore? Start with Homejourney's calculator at https://www.homejourney.sg/bank-rates#calculator, compare rates, and apply securely. Link back to our pillar guide for the full Foreigner Mortgage Eligibility Singapore Complete overview.
References
- Singapore Property Market Analysis 3 (2025)
- Singapore Property Market Analysis 1 (2025)
- Singapore Property Market Analysis 4 (2025)
- Singapore Property Market Analysis 6 (2025)
- Singapore Property Market Analysis 2 (2025)
- Singapore Property Market Analysis 8 (2025)
- Singapore Property Market Analysis 7 (2025)
