Mortgage loan comparison in Singapore
Compare Mortgage Loans with greater clarity.
Buying an HDB flat, condo or private home? Refinancing an existing property? Singapore Home Services helps you compare relevant mortgage options from multiple banks and understand the important terms before you decide.
- New home loans
- HDB & private property
- Home loan refinancing
- Commercial property financing
Mortgage advice for different stages
Your financing needs change with your property journey.
Start with the decision you are actually making. The detail is different for a new purchase, an existing mortgage and a commercial property.
Buying a New Home
Planning to purchase an HDB flat, condominium or another residential property? Review loan amount, cash and CPF needs, tenure, rate type and monthly repayment.
Explore new home loansRefinancing an Existing Mortgage
When your lock-in period is approaching its end, compare your current package against repricing and refinancing alternatives before switching.
Review refinancing optionsCommercial Property Financing
Financing a commercial property works differently from financing an HDB flat or private home. Compare relevant structures and lender terms.
Explore commercial property loansWhat should you compare?
The lowest advertised rate is not the whole mortgage.
A slightly lower headline rate may not suit you if it comes with a longer lock-in, less flexibility or conditions that do not fit your plans.
Interest structure
Understand whether your rate is fixed, floating or linked to a benchmark, and what happens after the initial period.
Lock-in period
Leaving, selling or refinancing during the lock-in may involve charges depending on the package.
Monthly repayment
Your mortgage needs to remain manageable alongside your other household and financial commitments.
Loan tenure
A longer tenure can reduce monthly repayments but may increase the total interest paid over time.
Partial repayment terms
Important if you expect to reduce your outstanding loan earlier using cash or CPF where permitted.
Refinancing flexibility
Your options later can be just as important as the rate you receive today.
Fees, subsidies and clawbacks
Legal costs, valuation costs, rebates and subsidy clawbacks can affect the actual benefit of switching.
For eligible HDB buyers
HDB housing loan or bank loan?
There is no universal winner. Your eligibility, cash and CPF position, preference for rate stability and future plans all matter.
Stable concessionary structure
The HDB concessionary housing loan currently carries an interest rate of 2.6% per annum. Eligibility and the final loan amount remain subject to HDB's requirements and assessment.
- Current concessionary rate: 2.6% p.a.
- Loan amount depends on HDB's assessment
- CPF and cash use remain subject to HDB and CPF rules
More package structures to compare
Bank mortgage rates vary by lender, package and market conditions. Fixed and floating structures can carry different lock-in and repricing terms.
- Rates vary by bank and package
- Fixed and floating structures may be available
- Approval and pricing depend on the bank's assessment
Important: an eligible HDB housing loan can be refinanced to a financial institution. Once an HDB flat is financed by a financial institution, the mortgage cannot subsequently be refinanced back to an HDB housing loan. Check current guidance directly with HDB.
Mortgage affordability
How much can you borrow for a home in Singapore?
The maximum advertised Loan-to-Value ratio does not automatically mean every borrower will receive that amount. Lenders assess your income, existing debts, age, tenure, property and credit profile.
Total Debt Servicing Ratio (TDSR)
TDSR measures how much of your gross monthly income goes towards servicing your total monthly debt obligations, including the new housing loan, under the applicable framework.
Mortgage Servicing Ratio (MSR)
MSR applies to relevant HDB flat and Executive Condominium housing loans under the applicable framework and caps the mortgage portion of gross monthly income.
These are regulatory affordability limits, not guarantees that a lender will approve a loan up to those amounts.
Fixed or floating?
Neither structure is automatically better.
The right comparison is which structure fits your cash flow, plans and tolerance for changing repayments.
More repayment certainty for a stated period
A fixed package keeps the applicable rate unchanged during the fixed-rate period. This can appeal to homeowners who prefer greater repayment predictability.
Check what pricing applies once the fixed period ends.
Repayments can move over time
A floating package can change when its reference rate or the bank's applicable pricing changes. Your repayments may therefore rise or fall.
Compare how the package resets and whether that movement fits your budget.
How Singapore Home Services helps
A clearer route from comparison to decision.
Our role is to help you understand relevant mortgage options before you commit. The bank or lender makes the final credit and pricing decision.
Tell us about your property
Share what you are buying or refinancing, the approximate loan amount and your timeline.
Review relevant options
We compare relevant package structures available through the banks we work with.
Understand the differences
Look beyond the headline rate at lock-ins, rate structure, repayment conditions and other terms.
Choose your next step
You decide how to proceed. Final eligibility, pricing and approval remain with the selected lender.
Mortgage decisions in practice
The right answer depends on the situation.
Important: These are illustrative scenarios showing common mortgage decisions. They are not presented as actual SHS client outcomes.
HDB financing or a bank loan?
A couple may need to compare available cash, CPF savings, HDB loan eligibility, monthly comfort and their tolerance for future rate movements—not simply today's lowest advertised rate.
Fixed or floating?
A condo buyer may receive both structures. The useful comparison includes the lock-in period, rate behaviour and what happens after the initial pricing period ends.
Refinance, reprice or stay?
A lower rate elsewhere does not automatically make switching worthwhile. Outstanding loan, legal costs, subsidies, clawbacks and repricing alternatives need to be compared together.
Why work with Singapore Home Services?
Compare first. Decide with more context.
You can approach a bank directly. Our value is helping you compare relevant options before deciding which package to accept.
Compare more than one option
A bank explains its own products. SHS helps you review relevant options from multiple banks we work with, giving you a broader basis for comparison.
Understand what you are signing
We explain important terms in straightforward language so you understand the trade-offs rather than choosing purely from an advertisement.
Advice based on your situation
An HDB buyer, private-home buyer and refinancing homeowner have different priorities. We start with your property, finances and plans.
No “lowest rate” promises
Mortgage rates change and eligibility differs between borrowers. We compare options relevant to you without promising a rate before assessment.
What information should you prepare?
Start with enough context to make the comparison useful.
You do not need to understand every mortgage rule before speaking with us. Exact documentation requirements differ between lenders and applications.
For a property purchase
- Property type and estimated price
- Approximate loan amount
- Income and existing commitments
- Available CPF and cash
- Expected purchase timeline
For refinancing
- Outstanding loan amount
- Existing bank and package
- Current interest structure
- Lock-in expiry date
- Remaining loan tenure
When you apply
- The selected lender confirms its document list
- Income evidence may be required
- Property documents may be required
- Existing debt details may be reviewed
- The bank issues its formal Letter of Offer
Do not send NRIC images, Singpass credentials or sensitive financial documents through the initial website enquiry. Begin with basic information only.
Mortgage loan FAQs
Straight answers before you compare.
The exact answer can depend on your property, finances and the lender's current criteria.
A mortgage is financing secured against a property. The borrower repays the loan over an agreed period according to the lender's terms.
Residential financing may reach up to the applicable Loan-to-Value limit, but the actual loan can be lower depending on existing housing loans, age, tenure, TDSR or MSR requirements, property characteristics and lender assessment.
The TDSR threshold is currently 55% of gross monthly income under the applicable framework and considers total monthly debt obligations, not only the mortgage being applied for.
The Mortgage Servicing Ratio limits the amount of gross monthly income that can be used for applicable HDB and Executive Condominium mortgage repayments. The current cap is 30%.
CPF Ordinary Account savings can be used for eligible property purchases and housing loan repayments, subject to CPF housing rules and applicable usage limits.
Not automatically. HDB and bank financing have different eligibility rules, rate structures, cash requirements and repayment considerations. The appropriate choice depends on your circumstances and preferences.
An eligible HDB housing loan can be refinanced to a financial institution. Once the flat is financed by a financial institution, however, the mortgage cannot subsequently be refinanced back to an HDB housing loan.
Not necessarily. Compare the rate together with lock-in periods, fees, subsidies, clawback conditions, repayment flexibility and what happens after the initial pricing period.
For a purchase, compare financing early enough to understand affordability before committing. For refinancing, review options ahead of your lock-in expiry so you have time to compare alternatives and exit conditions.
No. Mortgage approval, loan amount, pricing and terms are determined by the lender based on its assessment, applicable requirements and the applicant's circumstances.
Ready when you are
Compare your mortgage options before you commit.
Tell us what you are buying or refinancing and we will help you review relevant mortgage options and understand the terms that matter.