Home loan refinancing in Singapore
Refinance your home loan with the full cost in view.
Review your current mortgage against repricing and refinancing options across multiple banks. Compare the rate structure, lock-in, costs and flexibility before you decide whether to switch.
- HDB and private homes
- Refinancing and repricing
- Fixed and floating structures
Begin with the decision
A lower rate is useful only when the switch makes sense.
Before moving, compare the available routes and calculate the cost over the period you expect to keep the package.
Keep your current package
Remaining where you are may be reasonable when your present terms remain competitive or switching costs outweigh the difference.
Change package with your bank
Repricing keeps the loan with your existing bank. Review the new rate, fees, lock-in and longer-term pricing before accepting.
Move to another bank
Refinancing creates a new mortgage with another lender. Compare the complete package and account for legal, valuation and exit conditions.
Beyond the headline rate
Compare what you will actually live with.
The advertised rate is one part of the decision. The package structure can affect your repayment, exit options and future flexibility.
Current all-in rate
Identify what you are paying now and how that rate is calculated. Do not compare a benchmark alone without the bank’s spread or margin.
Rate structure and reset
Understand whether the proposed package is fixed or floating, when the rate may change and what pricing applies after the initial period.
Lock-in and redemption terms
Check the consequences of refinancing, selling, redeeming or making a partial repayment during the lock-in period.
Fees, subsidies and clawbacks
Legal work, valuation, administrative charges, rebates and subsidy clawbacks can change the net benefit of switching.
Monthly repayment and tenure
A lower monthly repayment may result from a lower rate, a longer tenure or both. Compare the reason, not only the new instalment.
Your next property decision
Plans to sell, move, make a lump-sum repayment or change the property’s ownership can affect which structure is practical.
Repayment comparison
Test the monthly effect before discussing packages.
Enter your outstanding balance, remaining tenure and two rates. The estimate uses a standard monthly amortisation formula.
Calculate the net benefit
Switching has costs. Put them beside the rate difference.
The relevant amounts depend on your present contract, property and proposed package. Confirm them before committing.
Early redemption
Your existing package may impose charges if the loan is redeemed during its lock-in period.
Subsidy clawback
A previous legal subsidy, valuation benefit or rebate may need to be repaid if its conditions have not ended.
Legal and valuation
Moving lenders can involve legal work and a property valuation. Any subsidy should be compared with its conditions.
New package terms
A new lock-in, minimum loan amount, bundled account or partial-payment limit may affect your flexibility.
Do not rely on generic fee figures. Your Letter of Offer and the proposed lender’s written terms are the relevant sources for your case.
Property-specific considerations
HDB and private-home refinancing are not identical.
Start with the property and current lender. The available route and assessment can differ.
Review the direction carefully.
An eligible HDB housing loan may be refinanced with a financial institution. Once an HDB flat is financed by a financial institution, it cannot subsequently be refinanced back to an HDB housing loan.
- Confirm your existing financing type
- Review current HDB guidance before switching
- Compare CPF, cash-flow and package implications
Compare cost and future flexibility.
Private-home refinancing may involve a new valuation, legal work and a fresh lender assessment. Your plans for the property should shape the comparison.
- Check your lock-in and subsidy periods
- Consider sale and partial-repayment plans
- Assess any additional borrowing separately
Official reference: HDB guidance on refinancing an HDB housing loan.
A practical process
From current package to an informed next step.
Start with the documents and dates you already have. Detailed application requirements come later from the selected lender.
Check your current loan
Identify the rate, outstanding balance, remaining tenure, lock-in expiry and relevant notice period.
Clarify your plans
Consider whether you expect to sell, repay part of the loan or keep the property through the proposed package period.
Compare relevant options
Review repricing and suitable bank packages by rate structure, costs, lock-in and flexibility.
Apply with your choice
Continue with the selected lender, provide its requested documents and review its formal offer carefully.
Prepare the right information
Enough detail for a useful comparison.
Exact documents depend on the lender and application. Begin with the facts that define your current mortgage.
Your existing loan
- Current bank or HDB financing
- Outstanding loan balance
- Current rate and rate structure
- Remaining loan tenure
- Lock-in and subsidy expiry dates
Your property
- Property type and address
- Owner-occupied or investment use
- Estimated current value, if known
- Expected sale or ownership plans
- CPF usage where relevant
Formal application
- Identification requested by the lender
- Income or business records
- Existing debt information
- Property and mortgage documents
- Any other lender-required evidence
Protect your information: do not send NRIC images, Singpass credentials, bank statements or sensitive financial documents through the initial website enquiry. Begin with basic information only.
Why compare through SHS?
A broader view before you commit.
You can approach your current bank directly. SHS helps you place that option beside relevant alternatives from multiple banks.
Compare more than the rate
Review the package structure, costs and conditions that affect the real refinancing decision.
Start from your circumstances
Your property, outstanding balance, timing and future plans shape which options are relevant.
Use straightforward explanations
Understand important terms without treating a promotional headline as the complete offer.
Keep the lender’s role clear
The selected bank determines eligibility, valuation, documentation, pricing and final approval.
Refinancing FAQs
Straight answers before you compare.
Your final options depend on the property, current loan, lender criteria and packages available when you apply.
Refinancing means replacing your existing mortgage with a new loan from another bank or financial institution. The new lender assesses the application and, if approved, the new loan redeems the existing mortgage.
Refinancing moves the mortgage to another lender. Repricing changes the package while keeping the loan with the current bank. Compare the new rate, fees, lock-in, legal work and longer-term terms of both routes.
Review your options before the relevant lock-in or pricing period ends, allowing time to check redemption notice requirements and compare alternatives. Use the dates in your Letter of Offer rather than relying on a generic timeline.
No. Consider legal and valuation costs, early-redemption charges, subsidy clawbacks, the new lock-in, the period you expect to keep the loan and the rate that applies later.
An eligible HDB housing loan may be refinanced with a financial institution. Once the flat is financed by a financial institution, it cannot subsequently be refinanced back to an HDB housing loan. Check HDB’s current guidance before deciding.
CPF Ordinary Account savings may continue to be used for eligible housing payments, subject to CPF rules and the required refinancing arrangements. Check your case with CPF and the appointed lawyer or lender.
Neither is automatically better. Fixed packages provide rate certainty for a stated period. Floating packages can move according to their reference rate or pricing formula. Compare how each structure fits your budget and plans.
Requirements vary. A lender may request identification, income evidence, existing loan details and property documents. The selected lender will provide the definitive document list for your application.
A proposed lender may assess a different tenure, subject to its criteria and applicable rules. A shorter tenure usually increases the monthly repayment but can reduce total interest if other assumptions remain equal.
No. The enquiry starts a comparison discussion. Package availability, valuation, eligibility, pricing and approval remain subject to the selected lender’s assessment and your circumstances.
Review before you switch
Compare your current mortgage with relevant alternatives.
Tell us your property type, current lender, outstanding balance and lock-in date. We will use that context to begin reviewing suitable options.