• 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 22-Jun-2020
(Source: ABS)

  • 1-Month SIBOR
  • 0.25100
  • 3-Month SIBOR
  • 0.54216
  • 6-Month SIBOR
  • 0.71563

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

“We came across the idea of mortgage brokers while researching for the best bank loan. Melissa reached out to me quickly after I left my contact information with MortgageWise, and clarified my endless questions.

As newbies, we appreciate that Melissa was very patient and not pushy at all! On top of her professionalism (she clearly knows her stuff well and is responsive to enquiries), we like that she is a grounded advisor and is willing to share her own experience, hence there is a personal touch to her service.

Here’s a big thank you to Melissa for providing reassurance to us anxious first-time homeowners, and we definitely recommend her service.”

“My home loan process was done by Alvin from MortgageWise who is very professional, supportive and willing to explain the personal loans package patiently. It is a great relief to have found him as he provided the solution I needed immediately. Finally, he manage to get me a lower rate.

I am very happy with the service provided by him. Highly recommend!”

“I have had the pleasure of working with Eileen who assisted me with the sourcing of a competitive mortgage refinancing rate as well as providing sound advice on the available rate packages.

I’m pleased with the outcome and will be more than happy to refer my friends to Eileen in the future.”

“We are totally impressed with the efficiency of MortgageWise in obtaining a refinancing package for our investment property.

Ms Melissa was very quick in getting our apllication documents across to the banker. This helped us to lock-in the SIBOR spread quickly, very important in times of rising SIBOR spreads. Thank you Melissa and MortgageWise!”

“Professionalism matter when it comes to giving advice on the life’s biggest loan for most people, which no doubt that MortgageWise.sg could offer great help in this regard.

Thanks Eileen for being very helpful and being responsive to all my queries in helping me in making decision to refinance my home loan.

I would highly recommend MortgageWise.sg to my friends.”

“My experience with Alvin from MortgageWise was pleasant and the whole process for understanding the refinancing procedures and the available packages was very efficient and straightforward.

Alvin was also quick to respond to subsequent queries and was also able to have the banks’ staff to send the relevant information promptly. I would recommend MortgageWise to anyone seeking to explore refinancing options.”

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

“Smooth and efficient loan sourcing process. Was skeptical at first as I do not understand how mortgage brokers work. Alvin took time to explain the details and advise on the rates for the different banks.

Really save the trouble of going from bank to bank as they have all the rates readily available for comparison. Highly recommended!”

“We googled and found MortgageWise, filled up an online form and was surprised to find the team responding to us almost immediately. The assigned consultant Melissa contacted us during the weekend and introduced to us various packages to choose from. By Monday we had already decided on the package and submitted all the paperwork.

MortgageWise was very professional and Melissa most efficient. I would definitely recommend them.”

“I chanced upon MortgageWise online while trying to find out more loan details. Eileen contacted me and patiently explained my queries and updated me with the loan information. She is very professional and not pushy. She provided very comprehensive information needed to help me make informed decision.

Appreciated her advice and I got a good refinancing rate.”

“Eileen is an exceptional mortgage broker and she had advised me the step of mortgage process in detail. She is friendly and always available to answer all my inquiry even at night time. In previous years, I have to go direct to bank for my mortgage, but now i believe in future i do not need to go direct to bank as long as Eileen is around to assist in the process.

I will strongly recommend Eileen from MortgageWise to my friends and family. She is a remarkable and a five-star broker. MortgageWise should be proud to have her in their organisation. Thanks Eileen and MortgageWise:-)”

“Although I had another broker, I chose to work with MortgageWise and Melissa because the customer service is much better. Melissa is much more responsive and was able to answer all my questions promptly, even working until late at night. Happy to give the business to her and even happier that everything went smoothly and quickly.”

“Working with Alvin was a delight. Very approachable and was very patient to answer my questions. He helped me explain the Home Loan Package which fit my refinancing needs. Once agreed , he and his team was quick to execute my request and helped me secure a good home loan rate. Wishing him Best of Luck.”

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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.