: Secure an In-Principle Approval (IPA) from a bank. This confirms the maximum loan amount you can borrow, typically based on a 75% Loan-to-Value (LTV) limit and a Total Debt Servicing Ratio (TDSR) capped at 55%. Costs to Budget :
Before searching for a home, you must determine your budget and eligibility. what steps are needed to buy a house
: Applicable if you are a PR (5% for 1st property) or a Citizen buying a 2nd property (20%). 2. Property Search & Selection Once your budget is clear, begin shortlisting properties. The Ultimate Checklist For Home Ownership - POSB : Secure an In-Principle Approval (IPA) from a bank
: You must apply for an HFE letter via the HDB Flat Portal. This letter is mandatory before you can book a BTO flat or sign an Option to Purchase (OTP) for a resale flat. : Applicable if you are a PR (5%
: 20-25% of the property value. For HDB loans, this can be paid entirely via CPF; bank loans require at least 5% in cash.