Housing Loan Singapore


Providing online home loan services since 2009


SIBOR is generally more stable while SWAP tend to fluctuate more. However 3-month SWAP has recently stayed consistently lower than 3-month SIBOR for an extended period of time. SOR is also very reactive to currency exchange rates.
See interest rate trends for the last 36 months
Enter your email below
Get Rates Trend

For a lot of people, a housing loan in Singapore is the biggest financial commitment they will make in their lifetime.

When looking for a housing loan in Singapore, it would help you to focus on what types of home bank loan is more suitable for you instead of only looking out for the best housing loan in Singapore or one that offers the best interest rates. Deciding on which offer to accept depends on your current and foreseeable future personal finances. However, if you are left with no other options, you are pretty at the mercy of the financial institutions.

Unless you have a lot of experience in working with mortgage bankers, the application process can be tedious and complicated to you. There is a stack of documents to sign and a whole booklet of terms and conditions of the housing loan. It is your responsibility to read up the terms and conditions to understand them.

Among those terms, 3 main terms should stand out for you. You have to be clear especially on them. Do not hesitate to ask questions when you do not understand them.

1)      Housing loan tenure

The housing loan can run up to 30 years and more. A lot of people prefer to take as long a tenure as allowable so as to pay a lower monthly installment. However, do note that the longer the housing loan stretch, the more total interest you will pay. This can be illustrated with a proper housing loan calculator.

2)      How are your home loan rates calculated.

Your housing loan in Singapore can be either a fixed rate mortgage or an adjustable rate mortgage. In layman terms, fixed rates mean that interest rates will stay the same throughout the tenure, and adjustable rates mean that the interest rates change at specified periods during the repayment schedule over time. Housing loans with adjustable interest rates can appear to be very attractive initially, but note that the interest rates can fluctuate with the movement of the market.

3)      Housing loan closing costs.

Ask questions about the specifics of it because closing costs can often greatly affect your final decision. You can try to negotiate with the mortgage lender to subsidize some of these costs.

Closing costs consists of chargeable services for stuff like property appraisals, legal fees, stamp duties, etc. Any costs that you will incur when you finally take op the housing loan being offered can be part of the final closing costs. Ask about these costs if you do not fully understand them. You don’t want to be paying a premium price for a service when there are alternatives.

These are the 3 more basic and important terms that you have to know before taking up a housing loan in Singapore. Use a home loan calculator if necessary. Get quotes from at least 3 mortgage lenders to make proper housing loan comparison. Minor differences between different packages can result in major impact on you financially.

Want to see housing loan interest rate trends
for the last 36 months?

Enter your email below so we can send it to you.

Get Rates Trend

It makes absolutely no sense to pay more
than you have to on a home loan.

Find the best mortgage rates here

What We Do For You

We Gather And Provide You Information On The Best Housing Loans In Singapore So That You Can Make A Better Decision Based On What Is Available In The Market

Which bank do you recommend for home loans in Singapore?

We don't recommend banks. We recommend you the best home loan that suits your profile and financial position.

How Does SOR Rates Hit Negative Value?

SOR rates are calculated with a complex financial formula, solved with simple algebra. The results of solving the equation therefore depends on the inputs used. Varying inputs that result from economic impacts and indicators can lead to negative value when the formula is solved. Key input indicators include USD/SGD spot rates and USD/SGD forward rates.

HDB loan or bank housing loan?

Our opinion is to always take a HDB concessionary loan if you are eligible for one. One of HDB's objectives is to to provide affordable housing for the people. While a bank is profit driven.

Which bank offers the best home loan deals?

Interest rates and spreads are not all that matter. Don't ignore the closing costs involved. Different banks can have different customized home loans for you. Don't be surprised if you will save more on a home loan that charges more interest because of the lesser closing costs involved. This is especially so if you know that you will refinance your home loan as soon as the lock in period has expired.

Want to see housing loan interest rate trends for the last 36 months?

Enter your email below so we can send it to you.

Get Rates Trend

It makes absolutely no sense to pay more
than you have to on a home loan.

Find the best mortgage rates here
Rate Trends

Want to see housing loan interest rate
trendsfor the last 36 months?
Enter your email below so we can send it to you.
Get Rates Trend

Get mortgage insights that no one else talks about.
Knowledge is most powerful when kept in a private group.
Enter your email and click submit

See The Best SG Home Loans

Enter your request below and we will contact you within 24 hours (usually sooner)