Mortgage Documents Required & Bank Rates Comparison Guide
To apply for a home loan in Singapore, you need key documents required for mortgage application like NRIC/passport, latest payslips, IRAS Notice of Assessment (NOA), CPF statements, and property documents such as the Option to Purchase. Homejourney simplifies this with Singpass integration for auto-filling applications across DBS, OCBC, UOB, and more, ensuring faster approvals in a trusted environment.[1][2][3]
This cluster guide on Documents Required for Mortgage Application: Bank Rate Comparison Guide provides a tactical checklist and bank comparisons. It supports our pillar content, Mortgage Documents Required Singapore: Homejourney Complete Guide ">Mortgage Documents Required Singapore: Homejourney Complete Guide, by focusing on actionable steps for first-time buyers and refinancers.
Essential Home Loan Application Documents Checklist
Prepare these mortgage documents required before applying to avoid delays. Banks like DBS, UOB, and OCBC require similar sets, but specifics vary by employment type.[2][3][4]
- Identification: NRIC (front/back) for Singaporeans/PRs; passport and utility bill for foreigners.[1][3]
- Income Documents: Latest 3 months' computerised payslips, IR8A form; for self-employed, 2 years' tax returns and commission statements.[2][3]
- CPF & Tax: Latest 12 months' CPF contribution history; latest IRAS NOA.[3][4][6]
- Property Papers: Option to Purchase (OTP), HDB Flat Information (if applicable), sale option for existing property.[2][4]
- Other: Bank statements (3 months for overseas salary), employment contract if <3 months on job, credit card/existing loan statements.[3][5]
Pro Tip: Use Homejourney's bank-rates page to upload via Singpass—auto-fills 80% of home loan application documents for multi-bank submissions.[3]
Singapore-Specific Requirements: HDB vs Private Property
For HDB flats, download HDB Flat & Financial Information from MyHDBPage using Singpass. Private property applicants need property valuation reports alongside OTP.[4] Foreigners face stricter rules under TDSR (Total Debt Servicing Ratio) at 55% of income.[1]
Homejourney verifies these docs digitally, prioritizing your safety with secure uploads. Link to our Projects Directory ">projects directory for HDB/resale insights matching your loan eligibility.
Bank Rate Comparison: Top Lenders in 2026
Compare bank loan documents and rates across Homejourney partners. Rates tied to 3M SORA (currently ~3.0% as of Feb 2026) plus spreads; fixed options lock 2-3% for 2-5 years.Business Times Property
| Bank | Key Products | Current SORA Rate (Est.) | Lock-in | Best For |
|---|---|---|---|---|
| DBS | SORA PEA, Fixed 2Y | SORA + 0.7% | 2-3Y | First-time buyers |
| OCBC | Fixed Income, SORA | SORA + 0.65% | 3Y | Refinancers |
| UOB | Private Home Loan | SORA + 0.75% | 2-5Y | Investors |
| HSBC | Fixed, Flexi | SORA + 0.8% | 1-3Y | Expats |
| Standard Chartered | SORA Plus | SORA + 0.6% | 2Y | Competitive rates |
See real-time updates on Homejourney bank-rates. DBS suits stability; Standard Chartered offers lowest spreads. Always check penalties (1-1.5% for early break).[2]
The chart below shows recent interest rate trends in Singapore:
As seen, SORA rose 0.25% in Q1 2026—time refinancing now via Homejourney's multi-bank tool.
Step-by-Step Loan Application Process
- Check Eligibility: Use Homejourney calculator factoring TDSR/MSR.
- Gather Docs: Follow checklist; scan via app.
- Compare & Apply: Submit once on Homejourney—banks compete with offers.
- Valuation & LO: 3-7 days approval; sign Letter of Offer.
- Completion: Funds disburse at key collection.[5]
Insider Tip: For HDB upgraders, include CPF withdrawal statements early—speeds DBS/UOB processing by 2 days.[2][3]
Income Documents for Mortgage: Salaried vs Self-Employed
Income documents mortgage focus: Salaried need 3 payslips + NOA; self-employed submit 2Y tax returns + business financials. Overseas workers: 3M salary-credited statements with 'SAL/PAY' codes.[3][6]
Homejourney's brokers review your loan application checklist pre-submission, boosting approval by 30% per user feedback.
FAQ: Mortgage Documents & Rates
Q1: What are the main mortgage documents required in Singapore?
A: NRIC/passport, 3M payslips, IRAS NOA, 12M CPF history, OTP. See full list above.[1][2]
Q2: How do bank rates compare for home loans?
A: SORA +0.6-0.8%; compare live on Homejourney. Standard Chartered leads in 2026.Straits Times Housing News
Q3: Can I apply to multiple banks at once?
A: Yes, via Homejourney— one form, multiple offers. Read Who Should Apply to Multiple Banks at Once? Homejourney's Expert Guide ">Who Should Apply to Multiple Banks at Once?
Q4: What's needed for refinancing docs?
A: Similar to new loans + IRAS Property Summary, Varying Terms Form.[3]
Q5: How to boost approval odds?
A: Organize docs per checklist; use Singpass on Homejourney. Details in Mortgage Documents Required Singapore: Boost Approval Odds ">Mortgage Documents Required Singapore: Boost Approval Odds.
Disclaimer: Rates fluctuate; consult Homejourney Mortgage Brokers or MAS for advice. Homejourney verifies info for trust.99.co Property Insights
Ready? Compare rates & apply now on Homejourney—safe, transparent, user-first. Explore properties at property search within your budget. For full coverage, visit our pillar guide.
