The Ins and Outs Of Home Loans
Whether you’re thinking of purchasing or refinancing your property, MoneySmart is here to help by bringing you the best home loan interest rates that are suited to your needs.
What You Should Know About Applying For A Home Loan
One of the first few important things to consider is to get a HDB loan or bank loan, and that depends on your financial capability and risk profile, as it will determine what interest rates and downpayment amount you’ll be comfortable with.
Your required loan amount
The actual loan amount offered to you will depend on HDB’s or the bank’s assessment of your ability to repay the loan, taking into account the Total Debt Servicing Ratio (TDSR) and Mortgage Servicing Ratio (MSR).
The suitable tenure for your repayment
Loan tenures usually will range from 10 to 35 years in Singapore, so the longer your loan term, the smaller the monthly repayment, and the higher the total amount of interest payable.
Fixed or floating rates
Fixed rates offer you more security and stability as the rate does not change over a certain period, while floating rates like SORA and SIBOR are usually affected by US interest rates and Singapore’s banking system.
Compare latest bank interest rates here!
Use our comparison tool to find the different rates each banks are offering!
Ultimate guide to owning a house in Singapore
What is the cost of applying for HDB Loan?
HDB loan vs Bank Loan: Which is better?
Should I use CPF to pay for Home loan?
HDB Downpayment Guide: How much do I have to pay?
How does FEDs interest rate hike affect homeowners?
Mortgage broker vs getting loan directly from bank
Guide to buying HDB flats for Singles in Singapore
Reviews Of Bank Home Loans At Your Fingertips
DBS Home Loan
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UOB Home Loan
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OCBC Home Loan
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DBS vs UOB vs OCBC home loan
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Enjoy more savings by refinancing your mortgage today!
Stop paying more than you need to and switch out your loan for a lower mortgage interest rate for your home. Compare refinancing rates here at Moneysmart!
Refinancing Essentials
Refinancing in Singapore Guide
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Refinancing vs Repricing: What’s the difference?
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How much does refinancing cost?
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