• MortgageWise singapore

Same Rates, Better Deal

When you use a broker. Find out why?

New Purchase LoanRefinance Loan

Operating since


Loans originated (pa)


Clients served

2020 Best Home Loans

(Select Property Type And Fetch)

SIBOR Updates As At 26-May-2020
(Source: ABS)

  • 1-Month SIBOR
  • 0.24450
  • 3-Month SIBOR
  • 0.55091
  • 6-Month SIBOR
  • 0.74725

Why Work With Us?

Most Updated Rates

Not only are our rates most updated, we get special deviated rates from banks at times because of the volume of business we refer.

Comprehensive Comparison

We send you a comprehensive summary – what we call Rates Report, that breaks down for you for each package the subsidy, lock-in, penalty, min loan, hidden terms, etc.

Trusted Partner

Not all brokers tell you everything like direct-to-bank packages online. We do. Why? Because we value your trust.  That’s why most choose to work with us in the end.

Recent Testimonials

“This is my first time refinancing using online mortgage broker and after viewing a few options, MortgageWise was my preferred choice.

Alvin has been very prompt and responsive in helping to address my mortgage queries and updating me on the changes of rates from the different banks. Would definitely recommend him to my friends who are considering refinancing options.”

“Eileen is very helpful and friendly when I first contacted her. She patiently answer all my questions and follow-up with me to help me secure refinancing with UOB without much hassle.

This refinancing save me few hundred dollars per month and on top of that, MortageWise also give me NTUC gift card.

I am really satisfied with her services and would highly recommend her.”

“I have been searching google for my home refinancing for quite sometime, until Alvin from mortgagewise contact me very promptly. He is very helpful and knowledgeable, answer all my doubts and recommended the best home loan for me.

I’m very satisfied with their service and no hesitate to recommend their service to anyone that are getting their home loan. “

“I managed to contact a few similar companies like MortgageWise for my refinancing needs & Eileen Pang was the only person who’s prompt, patient and professional.

She’s always prompt in her reply & she’s patient with every request & inquiries and provided the necessary information for my decision making process and that’s what a customer needs in such a transaction.

I’d highly recommend MortgageWise to service any mortgage or refinancing loans as they’ll provide not only sound advice but also professional service. Thanks Eileen for all your efforts and keep up with your professional service.”

“My experience with MortgageWise has been amazing, Alvin is quick to provide the different packages available and was able to understand and cater to my needs. Although it took me quite some time to decide on which loan package, Alvin remain professional and was very willing to provide the updated rates even after a month later.

I’ll recommend Alvin to anyone who is looking to take up a home loan/refinance the property given the ease of the one stop shop experience where all the loan rates are available at his finger tips.”

“Being my first-time refinancing, I had a lot of questions and it took forever trying to navigate and understand the different terms and conditions from different banks by myself. I am glad that I am referred to Melissa and she does and drafted out to my better understanding.

I am very happy with her service and will highly recommend her if anyone is getting their home loan.”

lady with hooray posture celebrating getting best home loan rates

When you work with us in long run..

Save On Average $10,000!

Starting with a purchase, you save $700 when you apply for your loan through us with our special $1,800 purchase legal fee.  Each refinancing later, based on a typical loan of $750,000, the average savings of 0.20% (else you won’t need to switch banks) translates into $1,500 over 2-year period (typical lock-in ).


Together with our special rewards* of $150 Fairprice gift card for each refinancing (min loan >$500,000), an average tenure of 10 years would mean the typical homeowner stands to save close to $10,000 with us!

Plus our service is absolutely free.


1. What do you earn if this service is free?

Yes, our service is free to you as banks pay us a distributor fee for referring clients to them. But your interest and package stays the same otherwise we will tell you, and which you can easily validate.

2. How can the rate be the same then?

Unknown to many, bankers earn commissions on top of basic pay. So the bank pays either way be it an internal commission or an external referral fee.  This is a distribution cost to the bank which does not affect your interest rate.

3. Why can’t I search online on my own?

Certainly you may. But why go it alone when you can outsource this task to a broker who helps sift through important details and provide you a concise proposal at no cost?  Best part is you get additional perks from the broker.

4. Will my information be safe with you?

If you like, you may submit documents directly to the bankers, and all information will be kept private and confidential.  We take data protection very seriously as it is a now a criminal offence in Singapore.

More Testimonials

“It has been nothing but an exceedingly positive experience to re-finance my mortgage loan with MortgageWise. From the well-crafted FAQs and online resources available, prompt live chat responses, to the excellent service provided by Alvin, it has been a pleasure to engage the team in getting through a seamless and relatively quick process.

Alvin is a stellar performer who goes the extra mile in patiently explaining the fixed and floating rate nuances and wider considerations, whose client-oriented advice and consultative approach greatly helped in clearing all of my initial doubts.

Would definitely recommend Alvin and the MortageWise broker team to all, and they will be my first port of call should I have refinancing needs and friends to refer.”

“Love the transparency of MortgageWise to display up-to-date rates from most banks for my easier reference as well as the live chat-bot feature to answer my inquiries within seconds.

The dedicated services from Agent Eileen has also helped me & my referral friend – Victor in securing the best yet cost-saving housing loans in today market.

I will definitely continue to recommend MortageWise to my friends or relatives who need a good refinancing deal.”

“Going into a mortgage refinancing can become a painful process with hidden fees along the way. None of that with MortgageWise. Darren was very reactive and guided us through the whole process with a comprehensive solution involving the different actors. A flawless journey. The whole thing was closed in a matter of hours once we received the paperwork. Good job and looking forward working with you again!”

“I found MortgageWise through a Google search – Melissa was the consultant assigned to me. Melissa was a tremendous help. She helped me source for rates at my preferred banks, negotiate on behalf of me, walked me through all the documents required, and sourced for a law firm that was efficient, trustworthy, and value-for-money. At the same time, she was always responsive, and replied to my messages at all hours of the day.

I had a great experience with MortgageWise and Melissa, and would not hesitate going back to them again and recommending them to my friends and family.”

“Darren is a good broker, clear explanation and good service and followups.”

“I come across MortgageWise while searching for a home loan for refinancing. I filled in my requirements and then I am referred to Melissa via email.

Melissa responds fast to my queries in WhatsApp’s and contacted me at my convenient timing. She is a fast worker as she keeps updating me on the latest interest rate and also advise the type of loan to sign up. She also does up a different bank comparison chart which is easy to read and understand. She is down to earth and never overpromising, She is the sure person to go to for refinancing options. I recommend her service to all my friends.”

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More Commonly Asked Questions..

There are different types of home loans in Singapore.  Besides choosing the lowest rates, there are many other considerations you should consider:

  • Fixed rate home loan or variable rate home loan
  • Choosing the right home loan mortgage peg: SIBOR, FHR or BOARD
  • Free conversion within or at end of lock-in period
  • Waiver of penalty due to sale of property during the lock-in period
  • Prepayment partially without penalty within the lock-in period
  • Interest-offset mortgage loan
  • Locking down “guaranteed spreads” on loans with select lenders
  • Lowest valuation fees from select lenders
  • (For refinancing) Reimbursement or legal subsidy/valuation subsidy to defray fully all transaction costs

Find out the unique attributes of DBS Home Loan, OCBC Home Loan, UOB Home Loan and how to choose between the Big 3 local banks, plus a few other worthy international banks and why we recommend them.

Current home loan rates fluctuate in the range of 1.20% to 1.75%.

See comprehensive display of the Top 10 home loan packages in Singapore – both fixed and floating rate, using our interactive Rates Display.

Compare All Latest Rates 2020

Reprice means changing of a home loan package within the same bank; Refinancing refers to moving your home loan to another bank with better rates altogether.

Quite obviously a big part of the decision to stay or switch banks centres on who offers better rates and the cost of staying (conversion fee) vs. cost of refinancing (legal fee and valuation fee).  However, you may also want to explore the different loan features offered by various banks in Singapore which may sometimes outweigh the slight difference in rates per se.

Our observation from the collective experience of all our clients over the years has pointed to an obvious fact – it does not pay to stay loyal to the same bank who usually offers the lowest interest rate to acquire new customers to the bank.  This is a fact-of-life across all industries.

There are at least 6 factors to consider when choosing between fixed or floating rate home loan:

  1. Owner-occupied versus investment property
    In general, floating rate is more suitable for investment property as there is rental income to offset increases in monthly repayment.  On contrary, mortgages on owner-occupied properties are serviced entirely from employment income and any interest hikes is felt more acutely.  Hence fixed rate home loan for own-use property makes sense especially when there is less chance of a sale during the fixed rate lock-in period.
  2. Intention to sell
    As fixed rate home loan comes with a penalty of 1.50% if the loan is redeemed in full due to sale within the lock-in period, it is better to choose a floating rate home loan for those who are selling.  Albeit, from time to time, there are banks offering full or 50% waiver of this penalty if due to sale.
  3. Gap between fixed and floating rate
    As a rule of thumb, is the gap between the lowest fixed and floating rate is less than 50 basis points or 0.50%, it justifies the decision to go fixed while the interest cycle is going up.
  4. Size of the outstanding home loan
    Smaller loans below $500,000 generally costs more to refinance or reprice and you would be better off on a floating rate home loan where the spread stays constant and does not step up after the promotional years.
  5. Job stability
    Similarly, if there are headwinds in your industry with risk of potential job loss leading to temporary loss of income, floating rate home loan with constant spread will be preferred.
  6. Outlook on interest rate over the next few years
    In general when rates are rising (like from 2015 to 2018), you will benefit more by locking down a fixed rate home loan at early stage of the cycle.  The reverse will be true then when rates are falling where floating rate home loans will be favoured.  Between the cycles is when the decision becomes tougher and it is here that professional mortgage brokers make the biggest difference in terms of dispensing the right advice.  After all this is what they do day in and day out – monitoring macro environments and tracking interest rate movements.

SIBOR (Singapore interbank offer rate) is the rate that banks lend to one another in the interbank or money market, and is administered by ABS in Singapore.

The 3-month SIBOR is the benchmark interest rate used to price loans and is highly correlated with US Fed funds rate.

As Fed has now crashed the fed funds rate to near zero sine Mar 2020, we are now projecting the 3-moth SIBOR to retrace back to levels last seen in 08 crisis ie. 0.40-0.50% and then trade sideways for quite a while until the macro outlook improves which will take 2-3 years.

For refinancing home loans in Singapore, or purchase of completed property, homeowners would first need to choose between fixed rate home loan or variable rate home loan.  And for the former, the fixed rate is only fixed for the initial 1 to 3 years of the loan tenure, after which interest reverts back to a floating rate at usually at a higher spread.

Next, homeowners would also need to choose the type of mortgage peg and there are three broad categories in Singapore: SIBOR, FDR or traditional BOARD rate.  SIBOR or the Singapore Interbank Offer Rate, analogous to LIBOR, has been used commonly to price home loans in Singapore since 2007.  In 2014, lenders start to introduce FDR (fixed deposit rate) home loan mortgage pegs whereby the bank selects a pre-designated Singapore dollar fixed deposit tranche as the base rate to benchmark its home loans.  It goes by different names according to the banks eg. FHR, FDR, TDMR, etc.  We do extensive coverage of this FDR concepts in our blogs, something unique to the Singapore mortgage market.

Finally, besides interest rate, there are many other factors to consider when choosing a mortgage loan.  This can come in the form of lock-ins, flexibility to prepay in parts or in full, legal fee subsidy or cash rebate (for refinancing), free conversion, to interesting home loan features like interest offset, combo loan (combining fixed and floating rate home loan), etc.  Speak to a professional mortgage consultant in Singapore to understand the breadth of the market, dynamics involved, and to navigate the changing regulatory framework on TDSR (Total Debt Servicing Ratio) etc.

MortgageWise.sg has been legally contracted to represent all major mortgage lenders in Singapore and the packages we broker include (but not limited to) : DBS Home Loans, UOB Home Loans, OCBC Home Loans, HSBC Home Loans, Maybank Home Loans, Stanchart Home Loans, Citibank Home Loans, Bank of China (BOC) Home Loans, CIMB Home Loans, RHB Home Loans, State Bank Of India (SBI) Home Loans, Hong Leong Finance (HLF) Home Loans.