10 Best Platforms for Mortgage Home Loans in Singapore | Best of Home 2023

Buying property for a home or for investment requires a great deal of time and monetary capital. This is why we use home loans to finance our homes or invest in new properties by putting a mortgage on one we already own. However, you have to make sure that your mortgage has an interest rate that can be easily paid when needed. With an extensive number of platforms for refinancing home loans in the market, which then is the best home loan mortgage platform in Singapore? In our Best of Home series, we introduce the 10 Best Platforms for Mortgage Home Loans in Singapore, providing quality recommendations based on your needs and budget.

This article was last updated on 11 January 2023.

10 Best Platforms for Mortgage Home Loans in Singapore

1. PropertyGuru Finance

Get the best rates for both private and HDB properties

Whether you are planning to mortgage a private property or an HDB flat, PropertyGuru Finance will help you find the best mortgage packages. Being one of the leading property technology companies in South East Asia, the company can help its clients find and finance homes through transparent plans with manageable rates. They can provide fixed and floating interest rates from all of the major banks in Singapore for clients to choose from. This way, you can easily compare up to 140 interest rate packages and lock-in periods simultaneously. Additionally, they also list rates for buildings under construction in addition to rates for completed properties.

Have tailored plans and regular updates

In addition to providing ideal interest rates, the company also has personalized mortgage packages for both private properties and HDB flats. The company has dedicated advisors that will guide you throughout the process of mortgaging a property.  Upon providing your details to an assigned mortgage advisor, they can suggest a number of plans that can fit your needs. Not only will you have the ideal plan, but you can also sit back and relax as they process your application for you. Furthermore, they will give you constant updates on the status of your application until it gets approved.

2. MoneySmart

Find the rates for under construction and completed properties

Get the mortgage plan that fits your needs with MoneySmart. This company makes financing your home easier as one of the largest financial portals in South East Asia. They present clients with mortgage rates for both private properties and HDB flats from major banks and other financial institutions. Furthermore, you can consult with their advisors to get a personalized mortgage plan that will be easily managed with your budget. The mortgage specialists from the company provide you with all the information you need to start applying for a mortgage. Additionally, you can receive up to $500 in vouchers upon applying for a mortgage loan with them.

If your property is still under construction, the company also has the latest mortgage rates for them alongside resale interest rates. They can provide you with a choice of zero lock-in mortgage plans that can be easily refinanced or repriced to a lower interest rate later on. Aside from private property mortgage rates, they also provide mortgage rates for build-to-order HDB flats and their resale interest rates. Additionally, they provide the necessary information that clients need before deciding which type of interest to select. 

3. DBS Bank

Have mortgage plan options for any property

If you are planning to buy property or refinancing, then DBS Bank will have the package that you need. They have several packages for mortgaging private properties, executive condominiums, and HDB flats. With SGD fixed deposit rates, they provide full transparency over the charges from the plans they offer. The bank also has a detailed step-by-step guide that helps their clients in filing for a mortgage for a completed or under construction property. Clients can choose from a selection of both fixed and floating rate mortgage plans that fit their needs.

For their floating rate packages, you can enjoy a lock-in period of up to 3 years with a special interest rate cap. The purpose of this cap is to protect you from abrupt rises in interest rates in the future. If you prefer more stable monthly payments, you can opt for their fixed rate packages. These packages offer a free conversion after a certain period from the first date of disbursement alongside a lock-in period of up to 5 years depending on your loan amount. In addition to the bank’s manageable mortgage rates, you will also receive several benefits upon getting a mortgage loan. These benefits include gifts in the form of equipment and discounts on other promotions such as their Renovation Loan Package. 

4. OCBC Bank

Take advantage of your eco-friendly property

Have access to low-interest mortgage plans with numerous benefits through OCBC Bank. You can maximize your savings for mortgage payments through their dedicated mortgage specialists. They will also provide you with details on packages and guide you through the process of filing them. The mortgage plans offered by the bank have a complete range of pricing packages with several interest rates to choose from. Their plans include a fixed interest rate of up to 3 years, OCBC mortgage board rate, and 1M Compounded SORA.  

The variety of packages that OCBC offers will surely help you find one that fits your needs and budget. Furthermore, there are also several packages for eco-friendly homes. Houses that have been verified to comply with the Tropical Home Energy Efficient Assessment by the BCA are qualified for their Eco-Care Home Loan. This package offers a promotional 1M Compounded SORA rate alongside the benefit of collecting OCBC$ that can be exchanged for vouchers for services and products. Additionally, the online application for this loan can be approved in as fast as an hour.

5. United Overseas Bank 

Check out several packages for various properties

The mortgage plans offered by United Overseas Bank offers only the lowest possible interest rates for their clients. Their plans can cover various properties ranging from HDB flats to private properties to under-construction buildings. Furthermore, there are even home loan plans for eco-friendly houses which have the added benefit of subsidy for U-Solar packages. Their home loan packages include a 2-year fixed-rate plan, floating-rate plan, a 3-Month Compounded SORA and a combination of the fixed and SORA plans. Not only do these plans have the benefit of manageable interest rates, but also have flexibility on prepayment and free conversion after a certain number of months. In addition to their manageable plans, their packages also have extra benefits for their clients which includes cash rewards and equipment vouchers. 

6. Redbrick Mortgage Advisory

Receive simplified advice and great rates

Make deciding on a mortgage loan plan easier with Redbrick Mortgage Advisory. They make it easy for clients to choose a mortgage plan by giving them easily understood advice with simplified terminologies. This helps in keeping all transactions and interactions between advisors and clients to be as transparent as possible. Additionally, their website has an updated list of all housing loan rates for HDB flats and private properties. The list contains the best rates for home loans with fixed, floating, and SORA rates with various lock-in periods. Thus, you can simultaneously find the mortgage plan with the lowest mortgage rate and longest lock-in period from your preferred banks.

7. ValueChampion

Look at daily updated mortgage rates

Known for providing well-researched data on the latest rates for home loans, ValueChampion can surely help you find the mortgage plan that you need. They use qualitative and quantitative data from major banks and financial institutions to make tools and guides that help you decide on which plan to choose. You can find data on mortgage rates for private properties, HDB flats, and commercial properties. This makes the comparison of rates easier through an overview of the general interest rate structure. ValueChampion also helps clients by providing rates that are lower than the market average by up to 20%. If you plan on taking a large home loan, they also provide data on mortgage interest rates for jumbo home loans that start at a minimum of $1,000,000. 

8. Citibank

Save more using your bank account

Calculate your planned mortgage loan with ease through Citibank. Through the mortgage calculator on their website, you can easily get an estimate on your preferred mortgage plan. You can apply for a mortgage loan for private properties, HDB flats, and executive flats that are either under construction or completed. Moreover, you can maximize the savings from your mortgage payments by offsetting the payable interest. Available only for their floating interest rate packages, you can use the interest gained from your Citibank checking account to offset your mortgage loan interest. Therefore, you save more by maintaining a certain balance in your account.

9. HSBC Bank

Flexible and customisable mortgage packages

The plans offered by HSBC Bank allow you to save as much as possible with their flexible mortgage plans. Not only do clients have the option of choosing from fixed and floating rate packages, but also have the choice of combining the two plans. Furthermore, there are also special packages such as their Green Mortgage for energy-efficient properties. This plan offers a discount on both 2-year fixed and SORA-pegged rate packages. In addition to flexible packages, you can also gain cash credits through home loan referrals and the ability to increase your savings with the HSBC SmartMortgage. This program uses the interest from your HSBC account to reduce the payable interest from your home loan. 

10. Housing & Development Board

Apply for an HDB loan directly from the government

If you are looking to finance an HDB flat, then why not get a direct mortgage loan at the Housing & Development Board? If you are qualified for an HDB loan, filing for a loan can be easy and can allow you to plan your finances better. Their website contains the necessary information for requirements and processing a mortgage for an HDB. Applying for an HDB loan directly from the public housing authority also minimizes the number of fees you need to pay. Furthermore, you can easily monitor the payable mortgage rate because it is pegged at 0.1% above the CPF Ordinary Account interest rate. 

If you are unfamiliar with home loans, eligibility, and how interest is computed, then take a look at the MoneySense website. Their page contains the necessary information you need about home loans and financing your new home. Hopefully, this can help you make the best choice for a mortgage plan that works well with you and fits your budget.

We hope that our guide on the 10 Best Platforms for Mortgage Home Loans in Singapore has helped you to find the best platform for mortgage home loans for your home loan payment and financing needs. Do also read out home buying guides and similar articles. Please share this with your family and friends if you have found it useful.

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