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Getting Your In-Principle-Approval (IPA) Housing Loan

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Getting Your In-Principle-Approval (IPA) Housing Loan

One of the fundamental requirements in purchasing a property that is frequently overlooked by most number of buyers is IPA housing loan.

First and foremost, you must secure your IPA beforehand so you can set proper expectations with your proposed budget. When the bank hands over the IPA, you will be fully aware on how much your preferred financial institution can lend you in purchasing a property.

Most of all, getting IPA on hand, won’t cost you anything at all and can expect that your request will be completed within three business days. In order for you to accomplish your IPA the soonest possible time, you must meet the following requirements first for a much faster and convenient processing ordeal:

  • Buyers’ passports or a copy of NRIC.
  • Buyers’ credit card statements that are recently utilized.
  • Of course, the buyer’s IPA Application Form.
  • All of the Credit Facilities’ Declaration Forms of the buyers.
  • HDB page showing the buyer’s HDB status.
  • For Employed Buyers: You must present your IRAS Tax Assessment Return together with the recently provided 3 month pay slips.
  • For Employed Buyers: You ought to provide the CPF contributions for the past 12 months.
  • Both for Self-Employed and Employed: Present the IRAS Tax Assessment Return for the past 2 years.

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You may also check out the mortgage calculator.

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