Why Apply for Mortgage via Singpass is Faster and Easier: The Homejourney Complete Guide

Applying for a home loan in Singapore has fundamentally changed. What once required weeks of paperwork, multiple bank visits, and manual form-filling now takes minutes through Singpass and MyInfo integration. At Homejourney, we've made this process even simpler with our multi-bank application platform, allowing you to submit one Singpass-verified application to DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, and more—receiving offers within 1-3 days instead of weeks.

This comprehensive guide explains exactly why Singpass mortgages are transforming how Singapore property buyers and refinancers access home loans, and how Homejourney's platform amplifies these benefits to save you time, reduce errors, and increase your approval chances.

Executive Summary: The Singpass Mortgage Revolution
What is Singpass and MyInfo? Understanding Singapore's Digital Identity
Why Singpass Mortgages Are Faster: The Speed Advantage
Why Singpass Mortgages Are Easier: The Simplicity Factor
The Homejourney Advantage: Multi-Bank Application in One Click
Step-by-Step Singpass Mortgage Application on Homejourney
Documentation Checklist: What You Actually Need
Eligibility Requirements and TDSR Explained
What Happens After Submission: Timeline and Next Steps
Security and Trust: How Homejourney Protects Your Data
Frequently Asked Questions
Next Steps: Your Path to Mortgage Approval

Executive Summary: The Singpass Mortgage Revolution

Singapore's mortgage application process has undergone a dramatic transformation in recent years. The introduction of Singpass (Singapore's national digital identity system) and MyInfo (which automatically retrieves verified government data) has eliminated the need for manual document submission and repetitive form-filling. Instead of gathering payslips, CPF statements, and tax documents to present to each bank individually, your information is now securely pulled directly from government databases in seconds.

For Homejourney users, this advantage is magnified. Our platform integrates Singpass authentication with a multi-bank submission system, meaning you don't need to apply to DBS, then OCBC, then UOB separately. One application, verified through Singpass, reaches all partner banks simultaneously. Banks then compete for your business by offering their best rates within days.

The result? What previously took 3-6 weeks now takes 1-3 days for initial approval offers. What required multiple visits to bank branches now happens entirely online. What involved extensive documentation now requires just your Singpass login. This is why applying for a mortgage via Singpass through Homejourney isn't just faster and easier—it's fundamentally different from the traditional mortgage process.

What is Singpass and MyInfo? Understanding Singapore's Digital Identity

Singpass (Singapore Pass) is Singapore's national digital identity system managed by the Government Technology Agency (GovTech). If you're a Singapore Citizen, Permanent Resident, or FIN (Foreign Identification Number) holder aged 15 or older, you're eligible for Singpass. It replaces the need for multiple usernames and passwords across government services by providing a single, secure digital identity verified through face recognition technology.

MyInfo is the ecosystem that makes Singpass mortgages possible. It's a government data platform that securely connects your verified personal information—stored across HDB, CPF, IRAS, and other government agencies—to authorized private sector services like banks. When you authorize a bank to access your MyInfo data, it automatically retrieves:

Your NRIC/FIN and residential address (verified and current)
Your CPF contribution history and current balances
Your employment information and income (from IRAS records)
Your tax assessment and income declarations
Your HDB property details (if applicable)

This is revolutionary because banks no longer need to request these documents from you manually. Instead of asking for your last three payslips, they access your verified income history directly from IRAS. Instead of requesting a CPF statement, they see your real-time CPF balance. The data is always current, always verified, and always accurate.

Why Singpass Mortgages Are Faster: The Speed Advantage

Elimination of Document Submission Delays

Traditionally, mortgage applications required you to gather documents, scan them, email them to banks, and wait for banks to verify them. If a document was unclear, missing, or outdated, the bank would request it again, creating another delay. This back-and-forth typically added 1-2 weeks to the process.

With Singpass and MyInfo, this entire step is eliminated. When you authorize data sharing, banks receive verified government data instantly. There's no scanning, no emailing, no waiting for verification. The data is already verified by the government—banks simply access it.

Simultaneous Multi-Bank Assessment

Traditional mortgage applications are sequential. You apply to DBS, wait for their response (3-5 days), then if you're not satisfied, apply to OCBC, wait again (3-5 days), then try UOB. This process can take 2-3 weeks just to compare offers from three banks.

Homejourney's Singpass integration enables simultaneous submission. One application, verified through Singpass, reaches all partner banks at the same time. All banks assess your application in parallel, not sequentially. You receive multiple offers within 1-3 days instead of waiting weeks for sequential responses.

Automated Eligibility Pre-Screening

Before banks even review your full application, Homejourney's system performs instant eligibility checks using your MyInfo data. We verify your TDSR (Total Debt Servicing Ratio) compliance, check your CPF balance against HDB requirements, and confirm your income stability—all automatically. This pre-screening catches eligibility issues before submission, preventing rejections and resubmissions that waste time.

Faster In-Principle Approval (IPA)

Because banks receive verified government data instantly and can assess multiple applications simultaneously, In-Principle Approvals (IPAs) are issued much faster. Traditional applications might take 5-7 days for IPA; Singpass applications typically receive IPA within 24-72 hours. This 50-70% time reduction is significant when you're eager to proceed with property purchase.

Why Singpass Mortgages Are Easier: The Simplicity Factor

One Login Instead of Multiple Passwords

Singpass uses biometric authentication (face recognition) or app-based approval. You don't need to remember passwords, create new accounts with each bank, or manage multiple login credentials. Your Singpass face verification is your authentication across all applications. This simplicity reduces friction and eliminates a common source of application errors.

Auto-Filled Forms Reduce Errors

Manual form-filling is error-prone. You might accidentally transpose a digit in your NRIC, mistype your salary, or list an outdated employment history. These errors cause application rejections or delays. With MyInfo auto-fill, your information is populated directly from government records. Your NRIC is auto-filled from your verified identity. Your income is auto-filled from IRAS. Your CPF balance is auto-filled from CPF records. You simply review and confirm—errors are virtually eliminated.

No Need to Gather Multiple Documents

Traditional applications require you to locate and prepare:

Last 3 months of payslips (finding these takes time, especially if you're disorganized)
Latest CPF statement (requires logging into CPF portal)
Latest tax assessment from IRAS (another login, another download)
Bank statements (3-6 months of statements to print or screenshot)
Proof of employment letter (requires requesting from HR)

With Singpass MyInfo, you need none of these. Banks access this data directly. You only need to upload documents if they're not available through MyInfo (like an employment pass for foreigners or property-specific documents like HDB Letter of Offer).

Homejourney's One-Click Multi-Bank Application

Even with Singpass, applying to multiple banks traditionally requires visiting each bank's website, logging in with Singpass, filling in loan details separately, and submitting. Homejourney simplifies this further with our bank-rates platform. You enter your loan details once, authorize Singpass once, and one click submits your application to 10+ banks simultaneously. This is the easiest possible mortgage application experience available in Singapore.

The Homejourney Advantage: Multi-Bank Application in One Click

How Homejourney Amplifies Singpass Benefits

While Singpass and MyInfo are government innovations available to all borrowers, Homejourney's platform specifically optimizes these tools for maximum convenience and better outcomes. Here's how:

Single Application Interface: Instead of navigating each bank's website separately, you complete one application form on Homejourney that serves all banks
Instant Eligibility Calculator: Before applying, use our mortgage eligibility calculator to understand your borrowing power based on TDSR, MSR, and CPF requirements
Real-Time Rate Comparison: See current rates from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, and Citibank in one place
Automatic Offer Comparison: When banks respond with offers, Homejourney displays them side-by-side so you can compare rates, tenure options, and fees instantly
Application Status Tracking: Monitor your application status in real-time on the Homejourney dashboard. See when banks have received your application, when they've issued IPA, and when documents are needed
Expert Guidance: Apply via Homejourney's bank-rates page to connect with our Mortgage Brokers, who provide personalized advice at no cost

Banks Available Through Homejourney

Homejourney partners with Singapore's major mortgage lenders, ensuring you have access to the widest range of options:

DBS Bank (often offers competitive promotional rates)
OCBC Bank (strong for refinancing packages)
UOB (United Overseas Bank)
HSBC (international borrower-friendly)
Standard Chartered (expat-focused)
Maybank (competitive for HDB loans)
CIMB (good for first-time buyers)
RHB Bank
Public Bank
Hong Leong Bank
Citibank

By submitting one application through Homejourney, you're simultaneously applying to all these institutions. This competitive environment means banks offer their best rates to win your business.

Why This Matters for Your Mortgage

Consider this real-world scenario: A borrower seeking a $600,000 loan with 25-year tenure might receive offers like:

DBS: 3.5% (promotional rate)
OCBC: 3.6%
UOB: 3.55%
HSBC: 3.65%

The difference between 3.5% and 3.65% on a $600,000 loan over 25 years is approximately $18,000 in total interest paid. By comparing offers simultaneously through Homejourney, you save $18,000 by choosing DBS over HSBC. Traditional sequential applications might have stopped after DBS approval, missing this optimization opportunity. Homejourney's simultaneous submission ensures you always see all options.

Step-by-Step Singpass Mortgage Application on Homejourney

Now that you understand why Singpass mortgages are faster and easier, here's exactly how to apply through Homejourney. The entire process takes 10-15 minutes to submit.

Step 1: Prepare Your Singpass Account

Before applying, ensure your Singpass is active and up-to-date. If you don't have Singpass:

Visit singpass.gov.sg
Click "Register" and select your user type (Singapore Citizen, PR, or FIN holder)
Complete face verification (takes 2-3 minutes)
Wait for activation (typically 5-7 days, but can be instant for citizens)

If you already have Singpass, verify that your residential address is current. MyInfo pulls data from your registered address, so outdated addresses can cause issues. Update your address through HDB (for HDB residents) or ICA (for private property owners) if needed.

Step 2: Visit Homejourney's Bank Rates Platform

Go to https://www.homejourney.sg/bank-rates. This is your central hub for mortgage applications, rate comparisons, and eligibility calculations. You'll see current rates from all partner banks and a prominent "Apply with Singpass" button.

Step 3: Check Your Eligibility (Optional but Recommended)

Before formally applying, use Homejourney's mortgage eligibility calculator to understand your borrowing power. Enter:

Your monthly household income (from all sources)
Your current debt obligations (car loans, credit cards, other loans)
Your CPF Ordinary Account balance (if buying HDB)
Your desired loan amount and tenure

The calculator instantly shows your TDSR compliance (must be ≤55% of income) and maximum borrowing power. This prevents submitting applications you're ineligible for, saving time.

Step 4: Click "Apply with Singpass"

On the Homejourney bank-rates page, click the prominent "Apply with Singpass" button. This redirects you to the official Singpass portal for secure authentication. No passwords are required—you authenticate using either:

Singpass Mobile App: Scan the QR code displayed on screen using your Singpass app, then approve the authentication request
Face Verification: Use your device's camera to verify your face (alternative method)

This authentication confirms your identity to Homejourney and authorizes data sharing with partner banks.

Step 5: Review and Authorize MyInfo Data Sharing

After Singpass authentication, you're presented with a data authorization screen showing exactly what information will be shared with banks. This typically includes:

Your name, NRIC/FIN, and residential address
Your CPF contribution history and current balances
Your employment information and verified income
Your tax assessment details

Review this information carefully. You have full control—you can choose to exclude certain data if desired, though this may reduce your chances of approval. Most borrowers authorize all available data sharing. Click "Authorize" to proceed.

Step 6: Enter Loan Details

Now you specify your mortgage requirements:

Loan Amount: How much you're borrowing (e.g., $600,000)
Loan Tenure: How many years to repay (typically 20-30 years for HDB, up to 35 years for private property)
Loan Type: Choose between Fixed Rate, SORA-based (3M or 6M), or Refinancing
Property Type: HDB flat, private apartment, landed property, or commercial
Property Details: Address or HDB block number (helps banks assess location-based risk)
Purchase Price: The property's purchase price (banks use this to calculate LTV—Loan-to-Value ratio)

Homejourney's form guides you through each field with helpful explanations. For example, if you select "HDB flat," the system automatically applies HDB-specific rules like the 30% MSR (Mortgage Servicing Ratio) cap.

Step 7: Review Pre-Filled Information

Before submission, review all auto-filled information pulled from MyInfo:

Your name, NRIC, and address (verify these match your current details)
Your employment status and income (confirm your current employer is listed)
Your CPF balance (check this matches your latest CPF statement)
Your existing debts (if any are listed, verify accuracy)

If any information is incorrect (e.g., you recently changed employers), edit it now. Accurate information increases approval chances and prevents delays.

Step 8: Upload Supporting Documents (If Required)

In most cases, Singpass and MyInfo provide sufficient documentation. However, some borrowers may need to upload additional documents:

Self-employed borrowers: Upload recent business financial statements or tax assessments
Foreigners: Upload employment pass or visa documentation
HDB buyers: Upload HDB Letter of Offer or eligibility letter
Property-specific: Upload property-specific documents like title deed or HDB resale form

Homejourney's system flags which documents are needed for your specific situation. Upload them directly through the platform.

Step 9: Review Rates and Fees

Before final submission, Homejourney displays current rates and estimated fees from partner banks:

Interest Rate: The rate you'll pay (varies by bank and loan type)
Processing Fee: Typically 0.3-0.5% of loan amount
Valuation Fee: Usually $300-800 depending on property type
Legal Fees: Approximately $800-1,500 for conveyancing
Stamp Duty: Government fee based on loan amount

These estimates help you understand total borrowing costs before committing.

Step 10: E-Sign and Submit

Review all information one final time, then click "Submit Application." Homejourney uses Singpass Sign (digital signature technology) to e-sign your application. This eliminates the need for physical signatures and speeds up processing. Your application is instantly submitted to all partner banks simultaneously.

Step 11: Monitor Your Application on Homejourney Dashboard

After submission, you can track your application status in real-time on your Homejourney dashboard. You'll see:

Which banks have received your application
Current processing status for each bank
When banks issue In-Principle Approval (IPA)
When banks request additional documents
When final approval is granted

Banks typically respond within 24-72 hours with IPA. You'll receive notifications as your application progresses.

Step 12: Compare Offers and Select Your Bank

As banks respond with offers, Homejourney displays them side-by-side for easy comparison. You can see:

Interest rates from each bank
Available tenure options
Promotional rates or packages
Processing fees and other charges
Lock-in periods or early repayment penalties

Select the offer that best suits your situation. Homejourney's Mortgage Brokers can advise you on which option is optimal for your circumstances.

Documentation Checklist: What You Actually Need

One of the biggest advantages of Singpass mortgages is the dramatic reduction in required documentation. Here's what you actually need to prepare:

Automatically Provided via MyInfo (No Action Needed)

NRIC or FIN (auto-verified)
Residential address (auto-verified)
CPF contribution history and balances (auto-pulled from CPF records)
Employment information and income (auto-pulled from IRAS)
Tax assessment and income declarations (auto-pulled from IRAS)

Documents to Prepare (Usually Not Needed, But Have Ready)

Last 3 months of payslips (in case bank requests verification)
Latest bank statements (3-6 months) showing regular deposits
CPF statement printout (for reference, though banks access this via MyInfo)
Employment letter confirming current employment (if requested)

Property-Specific Documents (Required)

For HDB Purchase: HDB Letter of Offer, HDB eligibility letter, or HDB resale form
For Private Property: Sales and Purchase Agreement, property title deed, or strata title
For Refinancing: Current mortgage statement, property valuation report

Additional Documents (If Applicable)

For Foreigners: Employment pass, visa, or work permit (employment pass holders must earn minimum $30,000 monthly for most banks)
For Self-Employed: Last 2 years of business financial statements, business registration, partnership deed
For Recent Immigrants: Proof of PR status, employment verification from employer
For Divorced/Widowed: Divorce decree or death certificate (if applicable to property ownership)

Pro Tips for Document Preparation

Digitize Everything: Scan all documents to PDF format before applying. This speeds up submission if banks request them
Organize by Category: Create folders for Income Documents, Property Documents, and Personal Documents
Update Addresses: Ensure your NRIC address matches your current residential address. If not, update through HDB or ICA before applying
Verify Employment: Confirm your current employer's name matches IRAS records. If you recently changed jobs, ensure your new employer is registered with IRAS
Check CPF Balance: Log into your CPF account and verify your balance matches what you expect. Discrepancies should be resolved before applying

Eligibility Requirements and TDSR Explained

Who Can Apply for a Singpass Mortgage?

To apply for a mortgage using Singpass through Homejourney, you must meet these basic requirements:

Age: At least 21 years old (maximum age at loan maturity is typically 65-70, depending on bank)
Singpass Eligibility: Singapore Citizen, Permanent Resident, or FIN holder aged 15+
Income: Stable, verifiable income from employment or self-employment
Credit Worthiness: Good credit score (CBS score above 1,600 is ideal; below 1,200 may be rejected)
Citizenship: For HDB purchase, at least one owner must be Singapore Citizen

Understanding TDSR: The Critical Eligibility Factor

TDSR (Total Debt Servicing Ratio) is the most important eligibility criterion for mortgage approval. It's the percentage of your monthly income that goes toward debt repayment.

The Rule: Your TDSR cannot exceed 55% of your gross monthly income.

What's Included in TDSR:

Your new mortgage payment (principal + interest)
Existing car loans
Credit card debt
Personal loans
Student loans
Any other debt obligations

What's NOT Included: Utilities, rent, insurance, groceries, and other living expenses

TDSR Calculation Example

Let's say you have:

Monthly gross income: $10,000
Existing car loan: $500/month
Credit card debt: $200/month
Desired mortgage payment: $3,500/month

Your total debt servicing = $500 + $200 + $3,500 = $4,200

Your TDSR = $4,200 ÷ $10,000 = 42%

Since 42% is below the 55% cap, you're eligible. However, if your desired mortgage payment were $5,500 instead:

Total debt servicing = $500 + $200 + $5,500 = $6,200

TDSR = $6,200 ÷ $10,000 = 62%

Since 62% exceeds the 55% cap, you'd be ineligible for that loan amount. You'd need to either reduce the loan amount, extend the tenure (which reduces monthly payments), or increase your income.

Using Homejourney's TDSR Calculator

Rather than calculating TDSR manually, use Homejourney's mortgage eligibility calculator. Enter your income and existing debts, and it instantly shows:

Your maximum borrowing power
Your maximum monthly mortgage payment
Your TDSR percentage
Whether you're eligible for your desired loan amount

This prevents submitting applications you're ineligible for, saving time and protecting your credit score (multiple rejections can temporarily lower your credit score).

MSR for HDB Buyers: An Additional Requirement

If you're buying an HDB flat, there's an additional requirement: MSR (Mortgage Servicing Ratio). Your monthly mortgage payment cannot exceed 30% of your gross monthly income.

Example: If your monthly income is $5,000, your maximum mortgage payment is $1,500 (30% of $5,000). This is separate from and more restrictive than TDSR for HDB purchases.

For private property, only TDSR applies (no MSR limit).

What Happens After Submission: Timeline and Next Steps

Hours 0-24: Initial Processing

Immediately after you submit your Singpass application through Homejourney:

Your application is transmitted to all partner banks simultaneously
Banks' automated systems perform initial eligibility checks (TDSR, credit score, income verification)
Your Homejourney dashboard shows "Application Received" status for each bank
Banks begin pulling your verified MyInfo data to populate their internal systems

At this stage, no human review has occurred yet. The system is performing automated checks.

Hours 24-72: Credit Assessment and IPA Issuance

Within 24-72 hours (typically 48 hours for straightforward applications):

Banks perform credit checks through Credit Bureau Singapore (CBS)
Loan officers review your application for completeness and eligibility
Banks issue In-Principle Approval (IPA) if you meet criteria
You receive notifications on your Homejourney dashboard showing IPA from each bank
Each IPA displays the approved loan amount, interest rate, and tenure options

The IPA is not a final commitment from the bank, but it's a strong indication that you'll be approved pending valuation and final documentation. IPAs are typically valid for 30 days.

Days 3-7: Offer Comparison and Selection

As IPAs arrive from different banks, you can now compare offers on your Homejourney dashboard:

DBS: 3.5% interest rate, $600,000 approved, 25-year tenure available
OCBC: 3.55% interest rate, $600,000 approved, 25-year tenure available
UOB:

Why Apply for Mortgage via Singpass is Faster and Easier | Homejourney