การจำนองสำหรับผู้ซื้อชาวต่างชาติ: LTV, TDSR และความเป็นจริงจากธนาคาร

On paper, the Loan-to-Value (LTV) and Total Debt Servicing Ratio (TDSR) rules treat foreigners and Singapore Citizens identically. In practice, banks apply tighter underwriting to non-resident borrowers, especially around income documentation.

LTV: how much you can borrow

For residential property bought with a bank loan (not HDB loan — those are SC/PR only):

You also have to put down a minimum cash component of 5% (for 75% LTV) or 10% (for 55% LTV). The rest of the downpayment can come from CPF — but foreigners have no CPF.

TDSR: how much you can afford

Your total monthly debt obligations (this loan + car loan + credit cards + any other servicing) cannot exceed 55% of your gross monthly income. This is the same for everyone.

The complication for foreign borrowers: banks haircut non-SG income at 30%-50% when computing TDSR. So a foreign professional earning S$20k/month equivalent might only get TDSR credit for S$10k-14k of it.

Documentation banks ask foreign applicants for

• Passport + Employment Pass / Long-Term Visit Pass / Student Pass (if any)
• Last 3-6 months of payslips OR last 2 years of income tax returns (foreign equivalent)
• Last 3 months of bank statements
• Employment letter or letter of appointment
• For self-employed: 2 years of audited financials + tax filings

Banks vary widely on how lenient they are with overseas income. DBS, UOB, OCBC tend to be more accommodating for high-net-worth foreign applicants. HSBC and Standard Chartered also have private-banking-grade mortgage products for non-resident HNWIs.

Cash vs loan: the foreigner default

Because foreigners cannot use CPF for downpayment, and TDSR is harder to clear on foreign income, many foreign buyers run cash-heavier than locals — often 40-50% cash, 50-60% loan, vs the local norm of 25% cash + CPF + 75% loan.