CHOOSE A BANK

#3

HOW TO OWN PROPERTY IN SINGAPORE

When you have chosen the mortgage product that works best for

you, you’ll need to make your application. Typically, this will

mean that you must arrange a stack of paperwork and visit the

bank in person to get approval. Each bank will operate slightly

differently, so call your local branch to check if you need to make

an appointment in advance.

Apply for an Approval-in-Principle (AIP) because you cannot

secure a sale without it.

Bank Limit for Foreigners

  • For individuals without outstanding housing loans, you can

       borrow up to 80% of the purchase price.

  • For individuals with one or more outstanding housing loans, the limit is up to 60% of the price.

Ohmyhome has Free Mortgage Advisory Service. We have in-house mortgage specialists with over 10 years of experience to recommend the most suitable package across all banks suited to your needs. It's free, so feel free to ask.

Check: Residential Property Market Measures: TDSR, SSD and LTV

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