Refinancing an Existing Loan
(HDB/Private)
Transfer your existing home loan to a new financier for a better loan package.
Home loan Interest rates are typically higher after the initial lock-in/promotional period.
You can achieve significant savings by refinancing your existing home loan to a new promotional package. Usually, rebates are offered to offset refinancing fees such as legal fee or valuation fee.
Equity Loan
(Top up Term Loan)
Also called cash out term loan. If you have a private property that is fully paid up, you can re-mortgage your property to the bank and take out a cash loan.
If your current home loan is partially paid up, you can also re-mortgage your property to get an additional cash loan in addition to your existing private home loan.
Rates are the same as property loans and is typically much lower than other loans i.e. car loans, personal loans.
This is only applicable for private properties.
Construction Loan
To finance the reconstruction of an existing landed property or construction of a residential property on an empty plot of land.
Upon TOP issuance, the construction loan will be converted into a property loan.
Overseas
Property Loan
Mortgage loan taken up locally to finance overseas property for investment; or to refinance your existing overseas property loan.
You can choose to borrow in SGD or the home currency of the overseas property.
New Property Loan
(HDB/Private)
To finance a property purchase.
Singapore residential properties includes:
HDB BTO/Resale
Executive Condominium
Private Condominium
Apartment
Landed Property such as:
Terrace, Semi-Detached, Cluster house, Townhouse, Bungalow, Good Class Bungalow