Singapore » Mortgages

Guide to the mortgages in Singapore :

Keep in mind that for many countries, there is often more than one deal available and this page merely represents an overview of the typical requirements.

 There are mainly two types of financing systems in Singapore, which are as follows 

• The HDB public finance sector    
• The commercial finance sector

HDB flats owners can enjoy the subsidized mortgage rates if they are eligible for the subsidized loans. The HDB can grant a subsidized loan to first time homebuyers and also to second time homebuyers who upgrade to another HDB flats. The private home owners and home owners who do not qualify for the subsidized loan will, however, have to secure their financing from banks and financial institutions.

There are two types of mortgages in Singapore; 

Fixed rate mortgage 

• For 1 year the interest rate is 1.61%
• For 2 years the interest rate is 2.72%
• For 3 years the interest rate is 2.89%

Flexible rate mortgage

• For 1 year the interest rate is 1.59%
• For 2 years the interest rate is 2.38%
• For 3 years the interest rate is 2.92%