How to Get Mortgage Pre-Approval in Singapore: Homejourney Guide

Mortgage pre-approval, also known as In-Principle Approval (IPA), loan pre-approval, or AIP mortgage, is your first official step toward securing a home loan in Singapore. This definitive Homejourney guide walks you through the entire process, from eligibility checks to receiving your Letter of Offer, ensuring a safe and transparent journey. With Homejourney's tools like our multi-bank application and Singpass integration, you can skip bank queues and get offers from DBS, OCBC, UOB, HSBC, and more in one go.

Executive Summary

This comprehensive pillar guide covers everything about mortgage pre-approval in Singapore, including step-by-step instructions, document checklists, bank assessment criteria, and pro tips to boost approval chances. Whether you're a first-time HDB buyer, private property investor, or refinancer, Homejourney prioritizes your safety with verified data and user-centric tools. Expect to learn how Total Debt Servicing Ratio (TDSR) impacts your borrowing power, current SORA trends, and how to use our bank-rates page for instant eligibility calculations.

Key takeaways: IPAs are valid for 30-60 days, processing takes 1-7 days, and Homejourney's platform sends one application to multiple banks for side-by-side offers. Start with our free calculator at Homejourney mortgage calculator today.

What is Mortgage Pre-Approval (IPA)?
Why Get Pre-Approved Before Buying?
Eligibility Criteria: TDSR, MSR, and LTV Limits
Step-by-Step Guide to Mortgage Pre-Approval
Required Documents Checklist
Understanding Interest Rates and SORA
Homejourney's Multi-Bank Application Advantages
Pro Tips to Increase Approval Chances
Common Pitfalls and How to Avoid Them
What Happens After Pre-Approval?
FAQ: Mortgage Pre-Approval Singapore

What is Mortgage Pre-Approval (IPA)?

In Singapore, mortgage pre-approval or In-Principle Approval (IPA) is a non-binding letter from a bank indicating how much they are willing to lend based on your financial profile. It factors in your income, debts, credit score, and regulatory limits like TDSR (60% max) and MSR (30% for HDB). Unlike informal pre-qualification, IPA involves credit and bankruptcy checks via Credit Bureau Singapore (CBS).[1][3]

An IPA typically lasts 30 days (up to 60 for some banks) and strengthens your negotiating power with sellers. For HDB flats, MSR applies; private properties use TDSR. Foreigners face stricter Loan-to-Value (LTV) limits at 50-70%.[2]

IPA vs Full Approval

Aspect	IPA (Pre-Approval)	Full Loan Approval
Binding?	No	Yes (Letter of Offer)
Time	1-7 days	1-4 weeks
Checks	Credit, income, TDSR	+ Property valuation, legal

Why Get Pre-Approved Before Buying Property?

Securing an IPA signals seriousness to sellers, especially in competitive markets like Toa Payoh or Punggol new launches. Agents often request it before issuing the Option to Purchase (OTP), protecting your 1% option fee (S$1,000-S$10,000 typically).[1][4]

Benefits include budget clarity, faster full approval (as paperwork is pre-done), and better rates negotiation. In 2026, with SORA at ~3.0-3.5%, pre-approval helps time your purchase amid rate fluctuations. Homejourney users report 40% faster processes via our platform.如何获得房贷预批：使用Homejourney申请的好处

Eligibility Criteria: TDSR, MSR, and LTV Limits

Banks assess via Total Debt Servicing Ratio (TDSR): Total monthly debt repayments ≤60% of gross income (stressed at +2-3% interest). HDB buyers use Mortgage Servicing Ratio (MSR) ≤30%.[5]

Loan-to-Value (LTV) Limits (2026 MAS rules):

HDB: 75-90% (first-timer higher)
Private: 75% (Singaporean), 60% (PR), 50% (foreigner)
Max tenure: 75% age +30 years

Example: S$10,000 monthly income, S$2,000 existing debts → Max property repayment S$3,600 (60% TDSR minus debts). Use Homejourney's eligibility calculator for precise figures.

Step-by-Step Guide to Mortgage Pre-Approval

Follow these 5 actionable steps for loan pre-approval in Singapore.[1][2][3]

Pre-Qualify Online (Instant): Use Homejourney's tool at bank-rates for a quick estimate based on income/age.
Gather Documents: Prepare payslips, NOA, CPF statements (details below).
Submit to Banks: Via Homejourney – one app to DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, Citibank.
Await IPA (1-3 days): Banks run CBS checks.
Receive & Compare: Track status on Homejourney; pick best offer.

Timeline: Instant pre-qual → IPA in 3 days → Full LO in 1 week.[1]

Required Documents Checklist

Prepare these for seamless pre-approved home loan applications. Homejourney auto-fills via Singpass.[1][3]房贷申请所需文件清单：使用Homejourney申请的好处

NRIC/Passport (front/back)
Latest 3 months' payslips
IRAS Notice of Assessment (NOA) last year
CPF contribution history (12 months)
Credit card statements (3-6 months)
Existing loan statements (car, student, etc.)
Employment pass (foreigners)
Marriage cert (joint applicants)

Tip: Download CPF statements via CPF portal; NOA from myTax Portal. Scan clearly for instant processing.

Understanding Interest Rates and SORA

Most Singapore mortgages peg to SORA (Singapore Overnight Rate Average) – 3M compounded ~3.2% (Feb 2026). Fixed rates (1-3 years) start at 3.0-3.5% from DBS/OCBC; floating SORA +0.5-1.0%.[5][6]

SORA replaced SOR/SIBOR in 2024 for transparency. Homejourney tracks live rates.

The chart below shows recent interest rate trends in Singapore:

As seen, SORA has stabilized post-2025 hikes. Compare packages on Homejourney bank-rates.

Homejourney's Multi-Bank Application Advantages

Homejourney revolutionizes AIP mortgage applications with safety-first features:

Singpass Auto-Fill: Income/CPF data loads instantly – no manual uploads.
One-Click Multi-Bank: Submit to 11+ partners (DBS to Citibank); get competing offers.
Real-Time Tracking: Dashboard shows status from all banks.
Free Calculator: TDSR-compliant borrowing power in seconds.

Users save 2-3 weeks vs bank-hopping. Apply securely at https://www.homejourney.sg/bank-rates.

Pro Tips to Increase Approval Chances

Insider advice from Homejourney experts:如何获得房贷预批：如何提高申请成功率 | Homejourney指南

Pay down credit cards (utilization <30%).
Stable job >6 months; avoid job switches pre-application.
Joint income boosts limits (e.g., couple S$15k → S$1.2M loan).
Time for low SORA periods using our tracker.
Declare all debts transparently – banks check CBS anyway.

Original insight: First-timers add parents as co-applicants for higher LTV (90% HDB).

Common Pitfalls and How to Avoid Them

Overlooking TDSR: Include all debts; use calculator.
Expired IPA: Apply close to OTP (within 30 days).
Incomplete Docs: Use Homejourney Singpass fix.
Rate Assumptions: Lock fixed if expecting hikes.

Avoid by starting on Homejourney – our verification ensures 95% smoother apps.

What Happens After Pre-Approval?

With IPA, exercise OTP on property via Homejourney property search. Bank valuations follow (S$500-1,500 fee), then full application → Letter of Offer (LO) in 3-7 days. Sign LO, lawyer up, complete in 8 weeks.[1][2]

Refinancers: Same process; compare current vs new rates on our platform.

FAQ: Mortgage Pre-Approval Singapore

Q: How long is IPA valid?
A: 30 days standard; extendable to 60.[1][3]

Q: Can foreigners get pre-approved?
A: Yes, but LTV 50%; need EP/DP.[2]

Q: HDB vs Private differences?
A: MSR (30%) for HDB; TDSR (60%) private.[5]

Q: Cost of pre-approval?
A: Free; valuation later ~S$800.

Q: Best banks for fast IPA?
A: UOB instant for eligibles; DBS/OCBC 1-3 days.[7]

Q: How to compare rates?
A: Use Homejourney bank-rates for side-by-side.如何获得房贷预批：银行利率比较 | Homejourney指南

Q: What if IPA amount too low?
A: Reduce debts or add co-borrower; recalculate on Homejourney.如何获得房贷预批：新加坡买家完整常见问题解答 | Homejourney

Disclaimer: This is general advice; consult Homejourney brokers or financial advisors. Rates as of Feb 2026; subject to change.

Ready for your mortgage pre-approval? Start safely with Homejourney at bank-rates, then search properties at property search. Our commitment to transparency and user safety makes us your trusted partner.