Integrated Loan Application Service
Q1: What is an In-Principle Approval and Letter of Offer?
A1: An In-Principle Approval (IPA) is an assessment of your eligible housing loan amount to be provided by a financial institution (FI). A Letter of Offer (LO) is an offer made by an FI of a contract for mortgage loan stating the terms and the exact loan amount.
Q2: How do I apply for a housing loan from the participating FIs using this service?
A2: The HDB Flat Portal allows you to apply for a housing loan from the participating FIs, as follows:
i. Apply for an IPA
When applying for an HFE letter, you can view and compare housing loans offered by the participating FIs and HDB, and apply to your preferred FI(s) for an IPA.
ii. Request for an LO
If you have received an IPA via the HDB Flat Portal, you can compare housing loan packages and request your preferred FI for a LO to confirm the housing loan offer through:
• The digital platform to guide new flat buyers after booking a flat; or
• The "Convert IPA to LO" e-Service for resale flat buyers after they have received an outcome for their Request for Value. Do note that you must have a valid LO before you exercise the Option to Purchase to buy a resale flat.
The FIs will liaise with you directly on accepting their housing loan offer. Please accept only 1 LO from an FI.
Your IPA and LO applications will be sent to the FI(s) of your choice. They will inform you of the outcome of your application.
Q3: Do I need to pay for using the HDB Flat Portal to apply for a housing loan from the participating FIs?
A3: No. It is free of charge.
Q4: Can I apply IPA and LO from multiple FIs?
A4: You may apply for an IPA or LO from any or all the participating FIs through the HDB Flat Portal.
However, please note that multiple IPA/ LO applications may affect your credit scores in the FIs’ assessment of your application.
Q5: Can I change the information provided or cancel my IPA application/ LO request after submission?
A5: Please inform the FIs directly.
Q6: How do I receive the outcome from the participating FI(s) for my IPA application(s)?
A6: The FI(s) will inform you of the outcome.
Q7: How can I apply for an IPA or LO if my preferred FI(s) is not among the participating FIs?
A7: Please approach your preferred FI(s) directly.
Find out more about the process and key considerations of taking a housing loan from an FI.
Q8: Must I use this e-Service to request a LO?
A8: When you apply for an HFE letter on the HDB Flat Portal, you can also apply for an IPA from the participating FIs. Subsequently, you can apply for a LO from the participating FIs to confirm the loan offer. This will provide more convenience to you as you do not need to approach the FI(s) separately.
Q9: Which FIs can I request a LO from via the HDB Flat Portal?
A9: Currently, there are 6 participating FIs, in alphabetical order as follows:
a. DBS Bank Limited
b. Hong Leong Finance Limited
c. Maybank Singapore Limited
d. Overseas-Chinese Banking Corporation Limited
e. Sing Investments & Finance Limited
f. United Overseas Bank Limited
Q10: Who can request a LO on the HDB Flat Portal?
A10: Flat buyers who have obtained an IPA from the participating FIs via the HDB Flat Portal can use this e-Service to request a LO from their preferred FIs.
Q11: Why must the request for a LO be endorsed by all buyers within the same calendar month?
A11: This is to ensure that all the buyers’ latest income and CPF contribution details are collected and transmitted to their chosen FI(s) to process the request.
Q12: How do I know whether my request for LO has been sent to the FI(s)?
A12: The FI(s) will acknowledge receipt of your request and contact you on the outcome or if they require more information. Log in to the HDB Flat Portal to check the status of your LO application and view the outcome by selecting My Flat Dashboard > Applying an HDB Flat Eligibility (HFE) letter.
Q13: What will happen after I have received a LO?
A13: Your FI will contact you to accept its LO.
Q14: Can HDB help me with any changes to my application for an IPA or LO, or help me increase FI’s loan offer?
A14: No. HDB is unable to intervene with business decisions made by the FIs. Please approach them directly.
Q15: Is there a limit to the number of LO that I can apply for via the HDB Flat Portal?
A15: No. You may apply for a LO from any or all of the participating FIs that have given you an IPA.
Q16: The FI from which I want to request a LO is not found on the HDB Flat Portal. Why is that so and how should I go about applying for the LO?
A16: The list of FIs given are those which have given you an IPA via the HDB Flat Portal in the last 12 months. You may approach your preferred FI(s) directly for a LO.
Q17: Can I still request a LO via the HDB Flat Portal if I prefer to submit my personal information directly to the FIs instead of through HDB?
A17: If you have obtained an IPA via the HDB Flat Portal, you may request for a LO via the HDB Flat Portal. Otherwise, please approach your preferred FI(s) to provide your information directly to them.