Compare home loan rate in Singapore by talking to our financial experts
Unbiased, personalized, and lowest rates guaranteed. Our experts will help you compare home loan rates in Singapore and choose the best one.
Compare The Best Home Loan Rates in Singapore
How does getting a home loan in Singapore work?
Step 1:
Know your home loan eligibility
The first step we help you with is identifying how much you can borrow. It’s mostly decided by using a parameter implemented by banks: Total Debt Servicing Ratio (TDSR) or Mortgage Servicing Ratio (MSR). Our home loan experts help you with this step.
Step 2:
Get your In-Principle Approval (IPA)
Earlier you needed to visit banks to get In-Principle Approval. Now our home loan experts make this step easier and faster for you. Simply gather the required documents, submit everything to us and wait for approval.
Step 3:
Apply for home loan
Once you get your IPA, you’re all set for the next step – getting the best home loan in Singapore. If you’re buying an HDB flat, you can apply for an HDB housing loan or a bank loan. If you’re eyeing a private property, you can only get a home loan from banks or financial institutions.
What’s best home loan option for you
Just like home prices, home loan rates in Singapore fluctuate as well. So what are the options you have?
Short-term Fixed Interest Rates
Fixed monthly payments that protect you from rate fluctuations for the first 1 to 2 years, allowing you to plan your budget easily and reliably.
Variable Interest Rates
Loans are pegged to the bank’s board rate and exchange the safety of assured fixed rates for generally lower interest rates.
Sibor-dependent Rates
These rates are the most transparent rates in the market. They are pegged to the Singapore Interbank Offer Rates. This is the rate that the banks use, when they lend and borrow funds from one another. However, transparency comes at a cost. These rates are the most volatile in the market.
Since we work with all major home loan providers across Singapore, we’re equipped to compare home loan rates and give you the best option
We have helped over 3,524 Singaporeans choose the best personalized home loan option
First home purchase was made easier with Home Loan Whiz. Great rates, but more importantly the education by the team on loan details was a strong plus factor. Not everyone is a finance expert, and it was easy and detailed from him.
After the bank loan was confirmed, good followup to check that everything is well with the banker and lawyer.
Overall, I strongly recommend!
– Weiguo Cai
I was served by Lorraine Lee and she was very patient with my queries and clarified them all. Not only that, she helped me to secure a good rate whilst the rate is changing almost everyday during that period.
Appreciated her initiative and I even recommended my friends to her.
Home Loan FAQs
Q. Which bank's home loan is the best currently?
Banks in Singapore keep changing the home loan packages with time. It’s volatile and may change based on the several economic factors. It also means that no bank is offering the best. You need to do the home loan comparison before committing to a home loan package.
Q. Why should I prefer talking to Home Loan Whiz instead of a bank?
With Home Loan Whiz, you get to talk to home loan experts who are always updated about home loan prices. You don’t need to go to all the banks individually saving you tons of time. And most importantly, it’s free of charge. So our analysis is always unbiased and aims at giving you the best home loan rate.
Q. Can I get a home loan with bad credit?
It’s indeed challenging to get a home loan with a bad credit score. Your credit score is assessed by every bank before giving any kind of loan. However, our financial experts aim to maximize your chances of getting a home loan.
Q. What is SIBOR Rate?
These rates are the most transparent rates in the market. They are pegged to the Singapore Interbank Offer Rates. This is the rate that the banks use, when they lend and borrow funds from one another. However, transparency comes at a cost. These rates are the most volatile in the market
Q. How much does Home Loan Whiz charge?
Home Loan Whiz is absolutely free of charge. The banks will remunerate us directly for every successful referral. Infact, if you refer someone to us and that person signs a loan package, we will pay you a referral fee as well.