Home Loans in Singapore (2026): Best Mortgage Rates To Consider

Whether you're buying your first flat or refinancing your condo, choosing the right home loan can save you thousands in interest payments.

With property prices continuing to climb and interest rates stabilising after a few volatile years, securing the best home loan has never been more important. From private properties to HDB flats, and whether you're a first-time buyer or seasoned homeowner, comparing mortgage packages across banks is key to making the most of your financing options. In this guide, we break down how home loans work, the differences between fixed and floating rates, and showcase the best mortgage rates available in Singapore right now.

A home loan is a long-term loan provided by a bank or financial institution to help you finance the purchase of a property. You borrow a portion of the property's value and repay it in monthly instalments that cover both the principal (loan amount) and interest. Loan tenures typically range from 5 to 30 years.

Home loans come in two broad types: fixed-rate and floating-rate. The key difference lies in how the interest rate is structured. You'll also need to factor in lock-in periods, early repayment penalties, and whether the loan allows partial repayments without extra charges.

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In Singapore, the terms "home loan," "housing loan," and "mortgage" are often used interchangeably. Technically, "mortgage" refers to the legal agreement that secures the loan against the property. However, most banks and consumers treat them as synonymous.

So whether you're applying for a bank loan to buy a condo or an HDB flat, you'll often hear all three terms used. What matters more is the type of property and loan terms you're applying for.

The type of property you’re buying determines the type of home loan you’re eligible for. If you’re buying an HDB flat, you can choose between an HDB concessionary loan or a bank loan. If you’re buying a private property, your only option is a bank loan.

The rules for loan amounts, downpayments, and eligibility differ between the two. Bank loans also apply to properties under construction (BUC) and refinancing packages.

*Please note that the rates provided below are indicative and subject to change. It's advisable to consult with the respective banks or financial institutions for the most current rates and terms.

Private property

If you're buying a resale condo or landed property, your loan eligibility and approval are closely tied to the property's valuation and your personal finances. Most buyers go for bank loans, as HDB loans are not applicable for private property.

Key considerations include:

• A downpayment of at least 25% (of which 5% must be in cash)

• Total Debt Servicing Ratio (TDSR), which limits your total monthly debt obligations to 55% of your gross monthly income

• The condition and age of the property, which may affect loan tenure and valuation

Loan disbursement typically happens around the completion date, and you’ll need to factor in stamp duties, legal fees, and possible renovation costs.

HDB

If you’re buying a BTO flat, resale HDB, or Executive Condominium from HDB, you generally have more loan options and lower upfront costs compared to private property buyers.

You can choose between an HDB concessionary loan or a bank loan, provided you meet the eligibility criteria. HDB concessionary loans offer more stability, with interest rates pegged at 0.1% above the CPF Ordinary Account rate, making them easier to budget for. Bank loans, on the other hand, may offer lower interest rates initially but come with market-linked fluctuations and lock-in periods.

Loan disbursement for HDB flats is typically staged, especially for BTO projects, and buyers should also budget for stamp duties, legal fees, and renovation costs separately.