A home loan, or a mortgage, is a loan that's taken up to help you purchase a residential property in Singapore. Banks offer either fixed or floating rates for you and you can borrow up to 75% of the property valuation. The home loan is the only loan, you'd be able to repay with your CPF-OA.

Because your home loan is pegged to your residential property, and that it can be repaid by your CPF-OA, your home loan is typically the cheapest rate of borrowing for any loans in Singapore.

Before shopping for a property, it is important for you to understand how much you can borrow.

Your home loan is largely based on your income, your monthly debt obligations and your age. 

By reaching out to us, you'd be able to know, your maximum loan, your down payment required as well as your monthly instalments for your mortgage. 

Mortgage rates are cheap because 

1. It is a loan that is tagged to your property
2. It is the only loan that can be repaid using your CPF-OA
3. It has a long borrowing duration and very low default rates 

To get a home loan in Singapore, you will need to pay for the legal and valuation fees; Your legal and valuation fees vary depending on the type of property as well as the size of your property. 
As a rough guide, not to be taken for our quotations,

New Purchase
legal fees are about $2500-$3000 (before GST),
Valuations are about 350-700, depending on property price.

Refinancing
Legal fees are about $1800-2500 (before GST)
Valuations are about $350-700 depending on property price.

A mortgage advisor is a professional that helps you get a home loan and refinance your mortgages.

A good mortgage broker have a deep understanding of bank and government regulations, to help you avoid fees by understanding when you are looking to sell your property.

Advises you on what rates and terms are favorable in the current market environment based on your current constraints.

Engaging a mortgage advisor saves you time and money.

In Singapore, the mortgage advisors are renumerated by referral fees to the bank as a third party. Banks either pay the bankers or mortgage brokers for a successful case. 

Difference is, a mortgage broker has access to all the banks in Singapore and does not take a salary from the bank; being able to recommend the rates that are most beneficial to you.

Bankers are renumerated by the profit the banks make, whereas the mortgage broker gets a flat fee, which means the priority is the lowest rate.

The Lender (the bank)

The bank usually pays the mortgage broker or advisor a standard fee; a small percentage of the loan size as compensation for bringing the client to the bank. The mortgage advisors do not get a basic salary from the lender

If interest rates are higher than the CPF Rates it might be worth entertaining that thought.

Especially if you're close to 55 years old.

After 55 year old your CPF becomes a megabank. You'll be able to withdraw your CPF to make a voluntary housing refund, this is exceptionally useful when gearing up for portfolio allocation

A small country like Singapore, we are very clearly price takers. And there has been a 90+% correlation between SORA and EFFR based on our 19 year data study from 2005-2024

It helps that the US Federal Reserve release economic projections

Do keep in mind, that the economic projection is the current plan and plans do change.