How to Get Pre-Approved for a Mortgage: How to Improve Approval Chances

Mortgage pre-approval, known as In-Principle Approval (IPA) in Singapore, confirms how much you can borrow before house hunting. This step boosts your bidding power and helps avoid disappointments. Homejourney simplifies this with our multi-bank application system, sending one form to DBS, OCBC, UOB, and more via Singpass for instant data fill.

Securing mortgage pre-approval or loan pre-approval (AIP mortgage) is crucial for Singapore buyers facing TDSR and LTV limits. This cluster dives into actionable steps to maximize approval odds, linking to our pillar guide on Singapore home loans. At Homejourney, we prioritize your safety with verified bank partners and transparent processes.

Why Get Mortgage Pre-Approval First?

In Singapore's competitive market, sellers favor buyers with IPA letters from banks like DBS or UOB. An IPA, valid for 30 days, shows your borrowing limit based on income, debts, and credit[1][3]. Without it, offers may be rejected. Use Homejourney's eligibility calculator at https://www.homejourney.sg/bank-rates#calculator to estimate before applying.

First-time HDB buyers or condo investors benefit most. For a S$1.5M condo, banks stress-test at 4% rates; you'd need ~S$14,400 monthly income for comfort[1]. Homejourney's platform compares rates from 10+ banks, helping you shop confidently.

Step-by-Step: How to Get Pre-Approved for a Mortgage

Follow these numbered steps for pre-approved home loan success in Singapore.

Check Eligibility: Use TDSR (60% debt cap) and LTV rules. First properties allow 75-90% LTV; calculate via Homejourney at https://www.homejourney.sg/bank-rates.
Gather Documents: Prepare payslips, NOA, CPF statements (see checklist below).
Apply via Homejourney: One Singpass login sends to DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, Citibank. Skip individual bank queues.
Receive IPAs: Expect 3-5 days; track status on our dashboard.
Compare Offers: Side-by-side rates; pick the best before OTP.

Avoid pitfalls: Don't apply post-OTP; banks need time for valuation[1][2]. Read more in our How to Get Pre-Approved for a Mortgage in Singapore: Homejourney Guide ">How to Get Pre-Approved for a Mortgage in Singapore: Homejourney Guide .

Documentation Checklist for IPA Approval

Banks like UOB and DBS require these for salaried applicants[5][6]. Self-employed add 2 years' tax returns.

NRIC/Passport (all applicants)
Latest 3-6 months' payslips/bank statements
IRAS Notice of Assessment (last 2 years)
Employment contract/letter
Latest CPF statement
OTP (post-offer)
Foreigners: Passport, work pass, overseas credit report[1][2]

Tip: Scan certified true copies; apostille foreign docs. Homejourney's Singpass auto-fills 80% of this, speeding approval.

7 Pro Tips to Improve Mortgage Pre-Approval Chances

Boost odds with these Singapore-specific tactics:

Pay Down Debts: Keep TDSR under 55%; clear credit cards first.
Build Credit Score: Aim BB+; check via Credit Bureau Singapore.
Stable Income Proof: 6+ months employment; avoid job switches pre-application.
Time Applications: Apply mid-week; avoid month-end when volumes peak.
Multi-Bank via Homejourney: One app to 10 banks increases offers; see Apply to Multiple Banks at Once: Homejourney's Complete Singapore Guide ">Apply to Multiple Banks at Once: Homejourney's Complete Singapore Guide .
CPF Top-Up: Maximize OA for downpayment; boosts LTV.
Lock Low Rates: With SORA at ~3% (2026), secure fixed packages early.

Insider tip: HDB upgraders, withdraw CPF from current flat first. Foreigners on EP get better LTV than S Pass[1].

What Happens After Pre-Approval?

IPA leads to formal LO post-OTP and valuation (S$50-700 fee)[4]. Banks lend lower of price/valuation. Timeline: 1-2 weeks for LO; disburse at completion. Track via Homejourney dashboard.

SORA influences rates; most loans pegged to 3M SORA + margin. The chart below shows recent interest rate trends in Singapore:

Rates stabilized post-2025 hikes, aiding approvals. Compare live at https://www.homejourney.sg/bank-rates.

Homejourney: Your Safe Path to Pre-Approval

Skip hassles—use Homejourney for verified, multi-bank IPAs. Our brokers guide HDB buyers or investors safely. Search budget-fit properties at https://www.homejourney.sg/search post-approval. Disclaimer: Not financial advice; consult professionals. Rates per MAS/HDB rules (2026).

FAQ: Mortgage Pre-Approval in Singapore

How long is IPA valid? Typically 30 days; extendable with banks[1].

Can foreigners get pre-approved? Yes, with EP/DP; provide work pass, NOA[1][2].

Does IPA guarantee a loan? No; subject to valuation and final checks[3].

How to apply to multiple banks? Via Homejourney—one form, multiple IPAs. Details: Who Should Apply to Multiple Banks at Once? Homejourney Guide ">Who Should Apply to Multiple Banks at Once? Homejourney Guide .

What if rejected? Improve credit/debts; reapply via Homejourney calculator.

Ready for how to get pre-approved for a mortgage? Start at https://www.homejourney.sg/bank-rates. Explore our pillar: Singapore Home Loans Guide for full coverage.