Refinance Your Home Loan in Singapore

Is your home loan coming out of its lock-in period, or is your current package no longer suitable? Compare home loan refinancing options for your HDB flat, condominium or landed property with LoanSupermart.

We help you assess available bank mortgage packages, compare switching costs and understand the terms before you decide. Our comparison service is free and carries no obligation. Approval and final loan terms are determined by the lender.

Request a free refinancing assessment · WhatsApp our team

Should you refinance your housing loan?

Refinancing means replacing your existing housing loan with a loan from another lender. A lower interest rate may reduce costs, but the right decision depends on fees, loan terms and how long you expect to keep the property and loan.

Review your mortgage when your fixed or promotional rate is ending, your lock-in is approaching expiry, or you want a different balance of repayment certainty and flexibility. Staying with your current package may still be appropriate if switching costs outweigh the benefit.

Compare refinancing rates and the full cost of switching

Ask for a current comparison using the same outstanding loan amount and remaining tenure. Check these details together:

• Interest rates: the initial rate, subsequent-year pricing and, for floating packages, the benchmark and bank spread.
• Lock-in and notice: early-redemption penalties, notice requirements and restrictions on partial repayments.
• Switching costs: legal, valuation and administrative fees, plus any subsidy clawbacks on your existing loan.
• Subsidies and rebates: eligibility, payment conditions and clawback periods.
• Your plans: whether you may sell, repay a lump sum or move again during the new lock-in.

A smaller monthly instalment does not always mean lower total interest. Extending the tenure can reduce monthly payments while increasing the amount paid over the life of the loan.

Refinancing break-even example: when do switching costs pay off?

A simple starting point is net switching costs divided by estimated monthly saving. For example, S$3,000 in net costs divided by S$250 a month gives a break-even period of 12 months. If you expect to sell or change loans sooner, the savings may not recover those costs.

This is an illustration, not a rate quotation or a guarantee of savings. Compare the same loan balance and remaining tenure, include penalties and subsidy clawbacks, and test what happens when rates change.

Calculate your refinancing break-even point or read our worked refinancing cost example. Our refinancing versus repricing guide explains the alternatives.

Get a refinancing comparison for your mortgage

Have your outstanding loan amount, current rate, remaining tenure and lock-in expiry ready. We can help you compare staying, repricing and switching banks. Please use the enquiry form for the initial request; do not send identity or income documents until the application process is agreed.

Request a free, no-obligation refinancing assessment or speak to our mortgage advisory team on WhatsApp.

Refinancing or repricing: which should you compare?

Request a repricing offer from your existing bank and compare it with other lenders’ refinancing offers. LoanSupermart can help you understand the trade-offs; savings are not guaranteed.

Refinance a private property home loan

For a condominium or landed home, compare packages against your outstanding mortgage, property valuation, remaining tenure and intended holding period. If you also want to explore releasing equity, see our home equity loan service. Additional borrowing is assessed separately and increases your debt.

How the refinancing process works

1. Review your current loan. Have your outstanding balance, interest rate, remaining tenure and lock-in expiry ready.
2. Compare suitable options. Assess estimated interest, fees, subsidies and repayment terms over the same comparison period.
3. Apply to your chosen lender. Provide the requested income, loan and property documents. The lender assesses eligibility and valuation.
4. Coordinate completion. Confirm redemption notice and legal arrangements before switching. Timing depends on the lender, property and documents.

Home loan refinancing FAQs

When should I start reviewing my mortgage?

Start several months before your lock-in or preferential rate ends. Check your current lender’s notice requirements and allow time for valuation, approval and legal completion.

Can I refinance during a lock-in period?

It may be possible, but penalties and subsidy clawbacks can outweigh the savings. Check your letter of offer before making an application.

How do I know whether refinancing is worthwhile?

Compare the estimated costs of staying, repricing and refinancing over the period you expect to keep the loan. Include switching fees and later-year rates. Use our home loan calculators as a starting point, then request a personalised assessment.

Does refinancing guarantee a lower interest rate?

No. Available packages depend on lender criteria, property type, loan size and your circumstances. Compare written offers rather than relying on advertised headline rates.

General information, not a loan offer or personalised financial advice. Rates, rules and lender terms can change. Your property secures the loan; missed repayments can put it at risk.

Further guidance: MoneySense: how home loans work · HDB: refinancing your housing loan. Editorial review: 25 October 2026.