Housing Loan Solutions

In Singapore, numerous housing loan solutions are available to suit different needs, whether you are purchasing a new home, refinancing an existing loan, or looking for specific features like fixed or floating interest rates.

Key Housing Loan Options in Singapore:
  1. HDB Loans:
    Eligibility: At least one buyer must be a Singapore citizen, and the applicant must not have previously taken two or more HDB loans. The loan can finance up to 80% of the property value, requiring a 20% downpayment, which can be paid using CPF funds.
    Interest Rates: Fixed at 2.6% per annum.
    Application: Requires an HDB Loan Eligibility (HLE) letter, which assesses age, income, and financial position​.

  1. Bank Loans
    Types: Both fixed and floating rate packages are available.
    Fixed Rate Loans: The interest rate remains constant for a set period (usually 2-5 years), providing stability in monthly payments.
    Floating Rate Loans: Rates are variable and can fluctuate based on market conditions, often linked to benchmarks like SORA or SIBOR.

How to Choose the Best Loan:
  • Understand Your Needs: Determine whether you prefer stability in payments (fixed rates) or are comfortable with potential rate fluctuations (floating rates).

  • Loan Amount and Tenure: Ensure the loan covers your financial requirements without overstretching your budget.

  • Eligibility and Requirements: Check specific lender requirements and eligibility criteria to ensure you qualify.

  • Compare Offers: Use comparison platforms to evaluate different loan packages and choose the one that best suits your needs and financial situation.

By carefully considering these factors and comparing the various options available, you can find a housing loan solution in Singapore that best meets your needs. For more detailed information and to explore specific loan packages, you can contact us.