Foreigner Mortgage Eligibility Singapore Complete: Bank Rate Comparison Guide

Foreigners in Singapore can secure mortgages up to 75% LTV from banks like DBS, OCBC, and UOB if they meet strict income, TDSR, and documentation rules. This guide breaks down eligibility criteria, required documents, and a side-by-side bank rate comparison to help expats and non-residents make informed decisions. At Homejourney, we prioritize your safety with verified data and tools like our bank rates page for instant comparisons.

Foreigner Mortgage Eligibility Overview

Foreigners holding Employment Pass, S Pass, Dependant Pass, or even non-residents can apply for home loans in Singapore, but only for eligible properties like condominiums, not HDB flats or most landed homes. Banks assess eligibility based on the Monetary Authority of Singapore (MAS) rules, including a 55% Total Debt Servicing Ratio (TDSR) limit and age-based loan tenure caps.[1][6] Permanent Residents (PRs) enjoy similar access but may get better terms with CPF usage.

Key point: No HDB loans for foreigners—only bank financing. Expect 60% Additional Buyer's Stamp Duty (ABSD) on purchases, pushing down payments to at least 25% plus ABSD cash.[1][2] Homejourney's eligibility calculator on our mortgage calculator lets you test scenarios instantly using Singpass for accurate, auto-filled results.

Key Eligibility Requirements for Foreigners

To qualify for a foreigner mortgage Singapore, you need stable income (minimum S$10,000/month recommended for competitiveness), good credit, and employment tenure of at least 3-6 months. TDSR caps total debt payments at 55% of gross income; for HDB/EC (if eligible via PR), MSR limits it to 30%.[6] Loan tenure maxes at age 65 or 30 years, whichever is shorter.[1]

Income Proof: Last 3-6 months payslips, employment contract, IRAS Notice of Assessment (NOA) or overseas tax returns.[1][3]
Credit Check: Local Credit Bureau Singapore (CBS) score; overseas reports for non-residents.[2][3]
Age: 21-65 at application; e.g., a 50-year-old gets max 15-year tenure.[9]
LTV: Up to 75% for first property; stress-tested at 4% rate.[1][6]

Self-employed foreigners face extra scrutiny: 2 years audited accounts required. Use Homejourney's multi-bank submission to apply once and get offers from DBS, OCBC, UOB, HSBC, and more—streamlining your process safely.Foreigner Mortgage Eligibility Singapore: Homejourney 2026 Guide

TDSR Calculation Examples

Assume S$15,000 monthly income, no debts. At 4% stress rate, max monthly payment is S$8,250 (55% TDSR). This supports ~S$1.6M loan over 25 years.[1]

Monthly Income	Max Debt (55% TDSR)	Est. Max Loan (25yr @4%)
S$12,000	S$6,600	S$1.3M
S$15,000	S$8,250	S$1.6M
S$20,000	S$11,000	S$2.2M

Existing car loans reduce capacity—e.g., S$1,000/month debt drops max loan by ~S$240K. Test yours on Homejourney's calculator.

Bank Rate Comparison for Foreigner Mortgages

Singapore banks offer competitive rates pegged to SORA (Singapore Overnight Rate Average), typically 3M/6M SORA + 0.7-1.2% margin. Foreigners get similar rates to locals but stricter processing. Homejourney aggregates real-time rates from our partners for transparent comparison.

The chart below shows recent interest rate trends in Singapore:

As seen, SORA has stabilized around 3% in 2026, making fixed-rate options attractive for risk-averse expats. Compare current packages:

Bank	Est. Rate (SORA+)	LTV for Foreigners	Lock-in	Min Income
DBS	3M SORA + 0.85%	75%	2 yrs	S$10K
OCBC	3M SORA + 0.80%	75%	3 yrs	S$12K
UOB	6M SORA + 0.90%	75%	2 yrs	S$10K
HSBC	Fixed 3.2% (2yr)	70%	N/A	S$15K
Standard Chartered	3M SORA + 0.75%	75%	2 yrs	S$12K

Rates as of Jan 2026; check Homejourney bank rates for live updates. DBS and UOB often approve faster for EP holders.[1][7][9]

Step-by-Step Application Process

Get In-Principle Approval (IPA): Submit docs online via Homejourney—valid 30 days, shows max loan.[1][3]
Secure Option to Purchase (OTP): Show IPA to agents; pay 1% option fee.
Full Application: Post-OTP, bank valuations property (1 week).[1]
Sign Letter of Offer: Review fees, penalties; use Singpass on Homejourney for speed.
Completion: Pay down payment, ABSD; loan disburses.

Pro tip: Apply via Homejourney to submit one form for multiple banks, saving time and boosting offers. Link to our property search to find condos within budget.

Tips to Boost Your Expat Mortgage Approval

Build local credit: Open a Singapore bank account early.[2]
Reduce debts: Pay off cards before applying.
Prepare docs in advance: Certified translations for non-English.[1][3]
Time it right: Apply post-bonus for higher income proof.
Consider PR: Boosts LTV and CPF access.[2]

For age-related limits, see our guide: Age Requirements & Mortgage Tenure Limits: Bank Rate Guide | Homejourney . Homejourney verifies all data for your trust and safety.

FAQ: Foreigner Mortgage Singapore

Can non-residents get a mortgage in Singapore?
Yes, with proof of income and credit; no visa needed but stable employment helps.[4][8]

What's the min income for foreigner home loans?
No official min, but S$10K-15K/month typical for S$1.5M+ condos under TDSR.[1]

Do all banks offer expat mortgages?
Yes, DBS, OCBC, UOB, HSBC, Standard Chartered specialize; compare on Homejourney.

How long for IPA as a foreigner?
3-5 days for salaried; longer for self-employed.[1]

PR home loan vs foreigner?
PRs get CPF grants; similar bank rates but easier HDB access.[2]

Disclaimer: Rates and rules change; this is not financial advice. Consult Homejourney Mortgage Brokers or professionals. Data current as of 2026 from MAS, banks.[6]

Ready to compare? Visit Homejourney bank rates for your personalized foreigner mortgage eligibility Singapore complete: bank rate comparison guide. Connect to our pillar on Foreigner Mortgage Eligibility Singapore: Homejourney 2026 Guide for full coverage.