Frequently Asked Questions

Table of Contents

Account Creation


2.04 What is Approval in Principle (AIP) / In Principle Approval (IPA)?

Both means the same thing. It is a home loan approval obtained from the banks before buying a property. With an AIP/IPA on hand, you can be sure that the respective banks can grant the loan and can set the heart at ease to buy the desired property. No cash rewards will be awarded for AIP application.

2.09 How to upload documents?

The loan applicant will be given a link to upload the documents in the email or you may upload the documents on behalf of them, under “Documents” or during “Bank Submission”, in the IQrate App.

2.13 How do I know the status of the loan?

If you are applying loan for yourself, you may check with the banker directly. If you are applying loan for others, you may check with the loan applicant. After IQrate has submitted the application, the banker will get in touch with the loan applicant for any additional information/documents needed for the loan approval. If you are just referring a loan to IQrate, the status of the loan will be reflected in the App under ‘Applications’.

2.15 How long will a loan be approved?

It will typically take between 3-7 working days. However, do expect longer waiting time during festive period/holidays or when the banks are experiencing high volumes.

2.17 Can I appoint my own law firm?

Yes. However, please check with the banker if the law firm is a working partner of the bank which the letter of offer is signed. Additional charges may apply if the law firm is not a working partner of the respective bank.


3.01 What is “iRefer”?

To engage our mortgage specialist for personalised support and mortgage advisory, you may refer the loan to IQrate through “iRefer”. You just need to create an application and fill up the details, after which IQrate will follow up from there.


4.02 What is “Rework”?

When you see “Rework” in your application status, either the fills are keyed wrongly under “Claim Cash Rewards” or a wrong bank’s letter of offer has been uploaded. You are required to amend and resubmit.

Payment of Cash Rewards

5.01 How much is my cash rewards?

Assuming loan amount is $1,000,000, your cash rewards will be as follows: iApply: 0.10% = $1000 *If you have chosen to co-broke during the process, cash rewards will be $500 (co-shared at 50%). iRefer: 0.05% = $500

5.08 Why did I not receive my cash rewards?

Cash rewards may not be paid to you if the loan applicants are bank’s staff, financial advisors and real estate agents. Please check if your case has been “Rework” by IQrate. If IQrate (Emily Wee) is not mentioned and acknowledged as the mortgage broker by the bank Please check that the bank account details under “Profile” are correct and completed. Do contact IQrate via email [email protected] if you have any queries.

5.11 What happens when I delete my account?

All pending cash rewards will not be paid out once the account has been deleted. You will have to create a new account with a different mobile number and email address to be able to use the APP again.


6.01 What is “iTrack”?

“iTrack” keep tracks of the refinancing date for your properties. It compares to our live rates and shows any potential interest savings.