Private Property Floating Rate Mortgage
Receive UP TO $200 TANGS GIFT VOUCHER When You Refinance Or Get A Loan Through Us !
You get the same rates and submit your docs directly to the bank, not to us. Plus you get special rates from our partner law firms which is the lowest in market! So why not hear our views — which loan is the best? Find out why you should use a mortgage broker.
*Note the following :
- Rate Basis tells you the benchmark used for the package, typically Sibor or Board rate. Spread refers to the mark-up (or profit margin) above Sibor or a discount margin below Board
- Sibor (Singapore Interbank Offer Rate) is updated weekly at bottom of our Home page
- DBS FHR (Fixed Deposit Home Loan Rate) is defined as the the average of their prevailing 12mth and 24mth SGD fixed deposit rates for amts between $1000-$9999
- ANZ’s 3M Combo Rate is defined as the average of 3M sibor & 3M sor rates
- Citibank offers free switching between 1M,3M,6M,12M sibor anytime during the tenure (1M not avail for HDB loans). For illustration purpose 1M rate is used
- Stanchart offers option of either 1M or 3M sibor to be decided one-time only at outset of loan. For illustration purpose 1M rate is used
Our Loan Comparison Report shows you everything that you need to know about the packages above including lock-in period, penalty, availability of legal subsidy & how much, etc. Request for a free copy today!
The mortgage loans above are sorted and ranked in order of the lowest average mortgage interest rate in the first 3 years. Three-year average interest rate is used as an basis for evaluation as most borrowers can refinance or switch to a different bank after this period without incurring any penalty or clawback of legal fee subsidy (if applicable).
Going with this lowest average rate may or may not be the best choice for you as everyone’s needs and circumstances are different. Some people might want to look at 2 years’ average with a view to sell the property and exit the market. Also different banks’ packages have different features which might interest or be of value to some for example single rate (or infinity rate), free switching of interest period, fixed instalment period, low re-pricing fee, or even a mortgage-linked savings account that pays the same deposit interest as your mortgage interest rate. Speak to an experienced mortgage broker today who can walk you through the differences and help you look at the total value proposition.
Singapore mortgage interest rate can be either fixed or floating. Fixed mortgage interest rate is where the the bank offers a guaranteed interest rate for the initial few years before reverting it to a floating rate structure. Unlike in certain overseas market, no banks in Singapore offer a fixed mortgage interest for the entire duration of the loan.
Floating mortgage interest rate is one which is indexed to a pre-determined benchmark, typically money market indices like the 3-month Singapore Interbank Offer Rate (Sibor). The bank levies a certain spread, or margin above this benchmark as profit.