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Get Approval-in-Principle (AIP) for your Home Loan from Singapore’s Leading Banks

What is Approval-in Principle (AIP)?

Approval in Principle (AIP) is a formal confirmation and agreement with a bank that the bank is ready to approve your home loan up to a certain amount.

Based on your credit history, financial health, and current income, the bank decides if it can approve a home loan for you and for how much amount.

AIP is almost a guarantee that you will get your home loan when you need it. However there’s a time limit. Usually, the duration of AIP in Singapore can last between 30 and 90 days during which you can apply for a home loan formally.

Why Get An Approval In Principle?

If you are planning to buy a property, the first thing you should do is to figure out your budget and how much you can loan from the bank. This can be done by an Approval In Principle application from the banks. An Approval in Principle is a pre-approved loan by the banks that will let you know how much they will loan you. That’s why it is highly recommended that you apply for this In Principle Approval even before you start looking for a place.

Secondly, getting in-principle approval takes time. And also requires upfront cost from the bank to determine the credit profile.

By working with us, you will save time by viewing only properties within your budget, and will also get the confidence to commit immediately when you have found your dream property. We have heard so manys stories of clients losing their initial deposit because they are unable to obtain loan approval.

After Signing Option to Purchase

You may not be able to find a property agent who will service you

You cannot act decisively without an AIP

You may lose your deposit

How does Home Loan Whiz help you get Home Loans Approved in Principle?

Not all banks encourage In Principle Approval as there are upfront costs in determining the credit profile of a customer, and also involves additional work for the bankers. But Home Loan Whiz helps you overcome this.

Home Loan Whiz works with 16 banks in Singapore. Over time, we have built up great relationships with bankers who are friendly, reliable and efficient. We are also very well informed on the latest mortgage rates and credit procedures for each bank, enabling us to make better recommendations to you.

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