• MortgageWise singapore

Same Rates, Better Deal

When you use a broker. Find out why?

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Operating since


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Clients served

2020 Best Home Loans

(Select Property Type And Fetch)

SIBOR Updates As At 4-Aug-2020
(Source: ABS)

  • 1-Month SIBOR
  • 0.25000
  • 3-Month SIBOR
  • 0.43817
  • 6-Month SIBOR
  • 0.62450

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

“It is quite satisfied with MortgageWise service apply home loan; they provide comprehensive table current loan for you to make a decision . Eileen contacted me during the weekend and introduced to me various packages to choose from the list.

I am strongly recommended Eileen from MortgageWise to my friend and people need their advice.”

“I found Amanda from MortgageWise a helpful and experienced mortgage adviser, providing valuable information and giving full support throughout the entire transaction.

I would say, MortgageWise is “Excellent”.”

“Alvin Wee is a good broker, clear explanation and good service and follow ups.

Will introduce my friends to him get suitable loan from him”

“I contacted MortgageWise after considering several option for refinancing our home. After several conversation, Alvin quickly offered me the best option available, connect me with an experienced mortgage banker and make sure everything settled well.

Alvin is very honest, prompt in answering whatever question and doubt in mind. I’m very lucky to have his support and will definitely engage him for any future transaction.”

“Melissa was the consultant assigned to me and the exchange with her was seamless. Firstly, she was very responsive, usually responding within the hour. Which also meant she was extremely hardworking. Secondly, she was very knowledgeable in her field and able to offer the right options for my home loan from various banks.

Finally, she gave great advice even if it did not profit her. Overall, it was an awesome experience enlisting Melissa’s help and I would definitely engage her help or MortgageWise’s help in the future.”

“Eileen was dedicated and prompt in getting the best deal for me. I’ve saved a great deal through the refinancing! Thumbs up!”

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

“This is the first time I am using a Mortgage broker to refinance my property. Previously, my refinancing loans were arranged directly as I was a bank employee. I must say that it is worth using the service of a Mortgage broker who has contacts with multiple banks and who can advise the best fixed & floating rates for comparison.

I highly recommend the services of Eileen who was very prompt with sending the best bank offer. The most favourable package was fully taken up within the day of release! So within days, I was given another best rates in the market. The speed to access is key especially in the current environment where the demand for refinancings is red hot.

While waiting for the loan approval to go through, Eileen continued to update me with the latest bank offers in case there is a need for an alternative. Everything went accordingly as initiated. Thank you for the smooth and positive experience!”

“During this COVID19 climate where almost everything else is on a standstill and services are going on slow, I’m exceptionally impressed with the mere speed and great customer service Melissa provided. She was able to address all my questions and concerns patiently and timely. Everything was concluded within 2 weeks.

Best of all, I got myself a great deal! 😊 “

“When engaging MortgageWise, I was served by Alvin Wee. He is professional in providing me an overview of the current Mortgage rate in the market and advise on the available best Mortgage deal.

The whole process went smoothly for me to sign up with the best available mortgage deal. Thank you Alvin for your service.”

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

Eileen 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 advises 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.”

“I was in the process of buying a new property earlier this year and was considering to engage my previous mortgage broker and Melissa from MortageWise. In the end, I decided to go with Melissa as she was prompt in her responses and provided detailed information that is specific to my requirements.

Their rates are also very competitive and I ask anyone who is looking around to consider reaching out to Melissa and have a chat with her and her team.”

“I requested for a mortgage plans to refinance our home loan. Mr. Alvin reached out to me within less than a day with proposed plans and recommended me best available plan.

He was extremely proactive on our questions n queries and within few days with lock-in our home loan with mortgagewise. We are pleased with the service provided.”

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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.