New Property Purchase / In-Principle Approval (IPA) for your Mortgage Loan
What is In-Principle Approval (IPA)?
​
Securing a mortgage loan in Singapore typically starts with obtaining an In-Principle Approval (IPA), which serves as a conditional approval from a lender for a specific loan amount before you make a formal application. This preliminary step is crucial as it provides clarity on how much you can afford when shopping for a property.
​
An IPA provides you with an estimate of the loan amount a bank is willing to lend based on your financial health and credit history. This is not a guarantee but a provisional agreement that lasts typically for ~30 days, providing a valuable gauge for your house hunting efforts.
​
It is advisable to get your IPA done early, so that you have time to understand any potential issues with getting a desired amount of loan. The IPA is unlikely to change drastically unless you have a change of employment or you took up new debts during the period.
​
​
How to Obtain an IPA?
​
-
Get an estimate of your loan eligibility instantly with our LOAN CALCULATOR.
-
Send the filled form to us and we will advise which bank is the best option for you.
-
Prepare the necessary documents.
-
Wait for IPA from Bank.
​
If unsure, you can contact us directly via Whatsapp, or fill the form below to obtain instructions to prepare for an IPA.
​
​​​
​
Preparing Documents
​
To prepare an IPA, you will need to prepare the following.
Filled and signed 1) bank's application form and 2) declaration forms (if any)
​​
Required Supporting Documents:
1) NRIC (Front and Back)
2) Latest Year Notice of Income Tax Assessment
3) Latest 3 months pay slip
4) Latest 12 months CPF Contribution history
5) Financial Info from HDB Website
​
The detailed guide to prepare each documents can be expanded below.
Request for an IPA
Fill up this form to receive an email from us immediately if you like to get an IPA from a bank, containing the application form(s) and instructions to prepare your documents.
Whatsapp: 8380 2610