Foreigner Mortgage Eligibility Singapore: Homejourney Guide 2026

The definitive resource for expats, PRs and non-residents seeking home loans in Singapore. Discover eligibility rules, calculations, documents and insider tips from Homejourney.

Executive Summary

Securing a foreigner mortgage Singapore is possible but comes with strict rules on LTV, TDSR, ABSD and documentation. Foreign buyers face 60% ABSD on private properties, lower LTV caps (typically 75% max), and must prove stable income above S$10,000 monthly for competitive rates[1][2].

Homejourney simplifies this with our instant eligibility calculator at https://www.homejourney.sg/bank-rates#calculator, multi-bank comparisons from DBS, OCBC, UOB and more, and Singpass-enabled applications for faster approvals. This guide covers everything from PR home loan perks to non-resident challenges.

1. Foreigner Categories and Property Rights
2. Mortgage Eligibility Overview
3. Key Requirements Explained
4. TDSR and MSR: Calculations with Examples
5. LTV Limits for Foreign Buyers
6. Required Documents for Foreigners
7. Bank-Specific Eligibility (DBS, OCBC, UOB & More)
8. Current SORA Rates and Loan Types
9. How to Improve Your Eligibility
10. Step-by-Step Application Process
11. Homejourney Tools for Foreign Buyers
12. Common Pitfalls and Insider Tips
13. FAQ

1. Foreigner Categories and Property Rights

Foreigners in Singapore fall into categories like Employment Pass (EP) holders, S Pass, Dependant Pass, Permanent Residents (PRs), and non-residents. Each affects expat mortgage access and property eligibility[1][6].

PRs enjoy higher LTV (up to 90% for first properties) and no ABSD on first buys, making PR home loan options superior. Non-PR foreigners can buy condos, Sentosa Cove landed homes, or short-lease properties but face 60% ABSD (e.g., S$1.2M on S$2M condo)[1]. HDB flats are off-limits without PR status.

Insider tip: EP holders with 6+ months tenure get better bank familiarity; S Pass holders need 2x income proof due to perceived risk[1].

Property Types Foreigners Can Buy

Condominiums and apartments
Strata-landed in approved developments
Sentosa Cove landed properties
Leasehold landed (<7 years)
Case-by-case: Other landed via SLA approval for economic contributions[6]

Always verify via URA guidelines. Use Homejourney's property search to filter foreigner-eligible listings.

2. Mortgage Eligibility Overview

Yes, foreigners qualify for foreign buyer loan from Singapore banks like DBS, OCBC, UOB, HSBC, but with caveats: minimum age 21, max tenure to age 65, stable income >S$10,000/month, good credit[2][4]. Non-residents face stricter checks or fixed deposit pledges (e.g., S$200K on S$1M loan)[3].

Common misconception: Only PRs get loans—false. Non-residents can borrow up to 75% LTV if documented well[1][5]. MAS caps apply universally[8].

Buyer Type	Max LTV	ABSD	HDB Eligible
Singapore Citizen (1st)	90%	0%	Yes
PR (1st)	90%	5%	Yes
Foreigner (Non-PR)	75%	60%	No

Homejourney verifies your status instantly—start at https://www.homejourney.sg/bank-rates.

3. Key Requirements Explained

Income and Employment

Banks require S$10,000+ monthly gross for foreigners; EP/S Pass needs 6-12 months tenure. Self-employed: 2 years audited accounts[1][4]. Variable income (commissions) gets 50-70% haircut.

Age and Tenure

21-65 at end of loan; max 30 years or to age 65[2][8]. E.g., 50-year-old max 15-year tenure.

Credit and Debt

Good Credit Bureau Singapore score essential; overseas reports for non-residents. Existing loans factor into TDSR[4].

4. TDSR and MSR: Calculations with Examples

TDSR limits total debt (incl. mortgage) to 55% of income at 4% stress rate. MSR (HDB only) caps at 30%[1]. Foreigners hit TDSR hard due to no CPF.

Example: S$15,000 monthly income, no debt. Stress payment: S$8,250 max (55%). Affords ~S$1.6M loan over 25 years[1].

Monthly Income	Max TDSR Debt (55%)	Est. Loan (25yrs, 4% stress)
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

Use Homejourney's TDSR calculator for your scenario: https://www.homejourney.sg/bank-rates#calculator. See related: .

5. LTV Limits for Foreign Buyers

Max 75% for non-PR foreigners on private properties (MAS rules)[1][8]. E.g., S$2M condo requires S$500K+ downpayment (25% cash/CPF) plus 60% ABSD (S$1.2M). PRs get 80-90%.

Exemptions rare (e.g., US citizens under FTA for ABSD)[5].

6. Required Documents for Foreigners

Comprehensive package needed[1][3][4]:

Passport + valid work pass (EP/S Pass/Dependant)
Employment contract/letter (6+ months)
3-6 months payslips + bank statements
IRAS Notice of Assessment (2 years) or overseas tax returns
Overseas credit report + bank statements
OTP/S&P Agreement
Self-employed: Audited accounts, business proof

Pro tip: Translate non-English docs certified. Homejourney's Singpass integration auto-fills 80%[internal].

7. Bank-Specific Eligibility (DBS, OCBC, UOB & More)

All major banks lend to foreigners:

DBS/OCBC/UOB: Prefer EP holders, min S$12K income, 75% LTV[7]
HSBC/Standard Chartered: Expat-friendly, accept overseas income with haircut[1]
Maybank/CIMB/RHB: Competitive for Malaysians, fixed deposit options[3]

Compare real-time at https://www.homejourney.sg/bank-rates—one click submits to all.

8. Current SORA Rates and Loan Types

SORA (Singapore Overnight Rate Average) is the key benchmark since 2020, replacing fixed rates. 3M SORA ~3.5% (Feb 2026), floating pegged +0.5-1% margin.

The chart below shows recent interest rate trends in Singapore:

Rates stable post-2024 hikes; fixed deposits pegged loans suit risk-averse expats[1].

9. How to Improve Your Eligibility

Boost income proof: Add spouse co-borrower, average 12 months payslips.
Reduce debt: Pay off cards/car loans pre-application.
Lengthen tenure: But cap at age 65.
Get PR: Unlocks 90% LTV, lower ABSD.
Fixed deposit pledge: For non-SG income[3].

Track progress with Homejourney calculator. Related: Self-Employed Mortgage Eligibility: Improve Approval Chances with Homejourney .

10. Step-by-Step Application Process

Get In-Principle Approval (IPA) via Homejourney—instant[4].
Secure OTP on property.
Submit full docs to 6+ banks via one Homejourney form.
Bank valuation (1 week).
Sign Letter of Offer, legal completion (8-12 weeks).

Singpass speeds IPA to minutes.

11. Homejourney Tools for Foreign Buyers

Homejourney prioritizes your safety with verified data and transparent tools:

Eligibility calculator: Instant TDSR/LTV[internal]
Bank rates comparison: DBS to Citibank
Multi-bank apps: One form, multiple offers
Singpass auto-fill: Faster, secure

Start safely at https://www.homejourney.sg/bank-rates. Post-purchase, check Aircon Services ">aircon services for maintenance.

12. Common Pitfalls and Insider Tips

Pitfalls: Underestimating ABSD cash needs, short employment proof, ignoring TDSR with home loans[1].

Local tips: Apply pre-OTP for IPA (valid 30 days). Time for Q1 bank quotas. For Sentosa Cove, expect 70% LTV scrutiny[6]. Homejourney brokers negotiate better margins.

Disclaimer: This is general info; consult professionals. Rates as of Feb 2026[1][2].

13. FAQ: Foreigner Mortgage Singapore

Can non-residents get a non-resident mortgage in Singapore?
Yes, up to 75% LTV with strong income/docs[5].

What's the min income for expat mortgage?
S$10K-12K/month typically[1].

Do PRs get better PR home loan rates?
Higher LTV (90%), lower ABSD—yes[2].

How much ABSD for foreigners 2026?
60% on purchase price[1].

Self-employed foreigner eligible?
Yes, with 2yr accounts[4]. See Self-Employed Mortgage Eligibility: Homejourney Benefits .

US citizens ABSD exempt?
Yes, under FTA[5].

Fixed vs SORA for foreigners?
SORA standard; fixed for stability[1].

Next Steps with Homejourney: Calculate eligibility now at https://www.homejourney.sg/bank-rates#calculator, compare rates, and apply securely. Trust Homejourney for your safe property journey—feedback drives our improvements.