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Compare & Get the Best Mortgage Loan Rates

Buying a home or refinancing?
We’ll find the best mortgage solution for you.

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Compare from all banks and financial institutions

Gain access to exclusive mortgage rates and benefits from all our partnered banks and financial institutions. We provide unbiased advice with no obligation and no hidden fees, ensuring you get the best mortgage options tailored to your needs. Our goal is to help you find the perfect loan with complete transparency and the lowest possible rates.

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Exclusive Home Loan Benefits

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Enjoy extra cash rewards and home content insurance for every loan size*. Take advantage of our free refinance notification service, where our specialists will secure the best mortgage loan rate offers for you once your property is due for refinancing. This ensures you won’t pay a cent more throughout your entire mortgage repayment journey. With iQrate, you’re always getting the best value.

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Your Dream Home Financing Journey Begins Here

Mortgage Refinancing
Buying A New Property

Your Path To Homeownership Starts Here

Own your dream home with an exclusive financing package tailored to you.

Benefits

  • Instant access to In-Principle Approval (IPA) check.
  • Access exclusive and competitive mortgage loan rates tailored to your needs.
  • Dedicated and personalized support from IQrate specialist.
  • Free home content insurance*
  • 100% No obligation and no hidden fees!
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Refinancing A Home Loan

Refinance For Better Savings

Reduce your monthly repayments by refinancing your current mortgage loan and enjoy savings.

Benefits

  • Access exclusive and competitive mortgage loan rates tailored to your needs.
  • Lower monthly home loan instalments.
  • Refinance reminder notification
  • Dedicated and personalized support from IQrate specialist.
  • Free home content insurance*
  • 100% No obligation and no hidden fees!
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Unlocking Funds From Your Property

Access Your Property’s Equity

Unlock equity from your property and withdraw funds for your liquidity needs, without having to sell your home.

Benefits

  • Access exclusive and competitive mortgage loan rates tailored to your needs.
  • Dedicated and personalized support from IQrate specialist.
  • Free home content insurance*
  • 100% No obligation and no hidden fees!
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Get quote with ease (3 Steps)

Step 1
Share your requirements with us, and our specialists will find the best mortgage loan rates tailored to your needs.
Step 2
Our team may reach out to offer expert insights and explore exclusive mortgage loan rate packages tailored to your needs. We'll only share packages that has a clear benefit for you!
Step 3
Don’t worry, there is no commitment, and our consultation is 100% free! Take your time to consider the options and let us know when you’re ready to apply for your mortgage loan!
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Frequently Asked Questions

Everything You Need to Know

What is a fixed rate?

Fixed Rate refers to an interest rate that remains constant for a specific period, typically ranging from 1 to 30 years. This means the borrower’s monthly mortgage payments stay the same throughout the fixed term, regardless of market interest rate fluctuations. It offers borrowers predictability and stability in managing their finances. However, if market rates fall, borrowers will not benefit from the lower rates during the fixed-rate period.

SORA (Singapore Overnight Rate Average) represents the average interest rate at which banks in Singapore lend and borrow funds from one another on an overnight basis. It is calculated based on the volume-weighted average of all actual borrowing transactions conducted between 8:00 am and 6:15 pm in the interbank market.

Refinancing means switching your existing home loan to a new package, either with the same bank or a different bank, usually to enjoy lower interest rates or better terms. By refinancing, homeowners can reduce monthly repayments and save on overall loan costs.

A Lock-in Period is the minimum time you must stay with your current home loan package before refinancing or fully repaying it. Typically lasting 2 to 5 years, it ensures the bank recovers its administrative and promotional costs. If you choose to refinance early, a penalty of about 1.5% of the outstanding loan amount may apply.

Tip: If you’re planning to sell your property during this period, do let our Mortgage Broker know! We can help you find a home loan package that offers a full 100% penalty waiver upon sale of your property.

 
 

It’s best to secure a refinancing offer 3 months before your lock-in ends, since banks take time to process applications and disburse funds. This ensures your new loan kicks in right after your old package’s lock-in period finishes.

Yes. Firstly, ensure that you are not within any lock-in period or that your loan package allows for partial redemption during the lock-in period. You can use your CPF (Central Provident Fund) Ordinary Account (OA) savings to repay your home loan in part or in full before maturity. The steps differ depending on whether your loan is with HDB or a bank.

For HDB loans:

  • Ensure you have sufficient funds in your CPF OA and check your maximum CPF usage limit.

  • Apply online via the HDB website or submit a CPF withdrawal form at any HDB branch.

  • Processing usually takes about three working days for online submissions and three to five working days for branch submissions.

For bank loans:

  • First, obtain approval from your bank.

  • Confirm you have enough CPF OA savings and review your usage limits through the Homeownership dashboard.

  • Submit your application online using Singpass. If you intend to fully redeem your loan, attach the bank’s redemption statement and your lawyer’s legal bill (if applicable).

  • Processing typically takes around five working days.

An IPA is a bank’s conditional approval of your home loan, based on your income, credit profile, and debt obligations. It gives you clarity on your borrowing power.

Yes. Most banks charge penalties typically 1.5% of the outstanding loan amount, if you redeem or refinance during the lock-in period. Always check your loan terms before switching.

You should compare your current loan package with available rates and factor in costs such as legal fees or penalties. IQrate helps you run these comparisons easily so you can see whether refinancing leads to real savings.

When refinancing your home loan, there are several costs to keep in mind:

  1. Legal fees – These cover the lawyer’s work in preparing, handling the loan transfer, and updating the property title. The fee is usually calculated based on your loan amount, so higher loan amounts will result in higher legal fees. Depending on the bank and law firm, fees typically range from $1,500 to $2,000.

  2. Valuation fees – Banks often require a current valuation of your property to determine its market value before approving the refinance. This fee typically starts from $150 , depending on the property type, value of the property and the bank.

  3. Fire insurance / Home insurance – Some banks require that you maintain or purchase fire insurance (or home insurance) for the property as a condition for refinancing. The cost depends on the property size and coverage.

  4. Early redemption / penalty fees – If you’re refinancing during your existing loan’s lock-in period, the bank may charge a penalty, often 1.5% of your outstanding loan.

Many banks offer subsidies or rebates on some of these fees to encourage refinancing. IQrate’s platform helps you compare packages, factoring in these costs so you can see the true savings after refinancing.

Bank Loan
  • You can borrow up to 75% of the property’s value or purchase price (whichever is lower) for a bank loan, with 5% payable in cash and the remaining 20% payable in cash or your CPF OA savings.
HDB Loan
  • You can borrow up to 75% of the purchase price for new flats. For resale flats, it is 75% of the resale price or market valuation (whichever is lower), at least 25% of the purchase price, which can be paid in full using your CPF Ordinary Account (OA), with cash, or a combination of both.

IQrate partners with all 16 major banks in Singapore, allowing us to present you with the most competitive rates and tailor-made options based on your financial profile, including income, existing debts, and property type.

Our Mortgage Broker will also guide you through documentation, liaise with banks during the approval process, and highlight potential savings, ensuring you secure the most suitable mortgage package efficiently.

Types of Mortgage Loans

HDB Loan Vs Bank Loan

FeatureHDB LoanBank Loan
ProviderHDB (Housing & Development Board)Banks / Financial Institutions
Loan-to-Value (LTV)Up to 75%Up to 75%
Minimum Downpayment25%
(Can be paid in full using Ordinary Account (OA) savings)		25%
(at least 5% cash, rest CPF / cash)
Interest Rate2.6% p.a. (CPF OA + 0.1%)

Fixed or Floating (SORA + spread)

Lowest Refinance Rate: 0.00%
Lowest New Purchase Rate: 0.00% 

Updated at: 04/11/2025

Max TenureUp to 25 years
(or up to age 65, whichever is lower)		HDB flats: up to 30 years
Private: up to 35 years
Income

Gross monthly income not exceeding:

No income cap
CitizenshipAt least one applicant is a Singapore CitizenSingapore Citizen or Permanent Resident (PR), or foreign citizen with valid work pass
RefinancingCan switch to bank loans; cannot refinance to another HDB loanCan refinance among banks (if allowed by lock-in etc.)
Early RepaymentNo penaltyMay incur fees (during lock-in period)
Applying for a Home Loan

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