Home Loan Rates Singapore (September 2026): Fixed vs SORA Packages for New Launches
Home loan rates in Singapore as of September 2026: latest 3M compounded SORA, indicative fixed and SORA package ranges, why the rate at TOP matters most for new launches, and what a 0.5% gap costs.
Home loan rates in Singapore change every month, and the headline number is only part of the story. For a new launch condo, what matters most is the rate you’ll be paying when the bulk of the loan is drawn at TOP and CSC, years after you book. This page gives the latest dated figures (as of September 2026), explains how mortgage rates are set, how fixed and SORA packages behave for an uncompleted condo such as LinkTown Residences (also searched as Hougang Central Residences), and how to compare offers properly.
Home loan rates Singapore: September 2026 snapshot
Information is accurate as of September 2026; we update this page when rules or figures change.
| Indicator (as of September 2026) | Figure | Source and date |
|---|---|---|
| 3-month compounded SORA | 1.186% (1.029% in May 2026) | DBS/POSB published 3M SORA table, rate quoted 1 Sep 2026; MAS publishes SORA daily |
| 1-month compounded SORA | About 1.30% | PropertyNet, updated 4 Sep 2026 |
| Lowest 2-year fixed, completed private property | From 1.40% a year | PropertyNet, 4 Sep 2026 |
| Lowest floating, completed private property | From 1.39% a year (3M SORA 1.19% + 0.20%) | PropertyNet, 4 Sep 2026 |
| Lowest floating, uncompleted (BUC) new launch | From 1.39% a year (3M SORA + 0.20%); fixed packages reported as not available for BUC | PropertyNet, 4 Sep 2026 |
| Lowest advertised fixed / floating (private, S$1m–2m loans) | From 1.35% / from 1.38% a year | MortgageWise, updated 21 Sep 2026 |
| HDB concessionary loan rate | 2.6% a year (unchanged for 1 Oct–31 Dec 2026) | CPF Board, 22 Sep 2026 |
Two things stand out. First, 3M SORA has been creeping up since May 2026, so SORA-pegged instalments that reset quarterly are edging higher. Second, the gap between the best fixed and floating packages is small, which makes lock-in terms, the thereafter rate and flexibility more important than a few basis points. Headline rates often need a minimum loan size, and packages for uncompleted property, smaller loans and non-standard borrowers are often priced differently.
Package rates are third-party comparison-site figures on the dates shown, not bank quotes and not financial advice. Your bank’s written offer is what counts.
The two main package types
| Fixed-rate package | Floating (SORA) package | |
|---|---|---|
| How the rate is set | Fixed for an initial period, typically 2–3 years, then moves to a floating “thereafter” rate | Compounded SORA (often 1-month or 3-month) plus a fixed spread |
| Instalment | Stable during the fixed period | Resets with SORA, so it can rise or fall |
| Lock-in | Usually 2–3 years | Often 1–3 years; some have none |
| Uncompleted property | Less commonly offered; one comparison site reported none for BUC as of September 2026 | The usual choice for BUC loans |
| Suits | Buyers who want certainty and expect rates to rise | Buyers comfortable with movement, or who expect rates to ease |
Singapore’s older benchmarks, SIBOR and SOR, have been discontinued; new floating home loans reference SORA, which MAS publishes daily.
Fixed vs SORA for a new launch: the timing problem
Here’s what most rate comparisons miss. With a new launch, the bank disburses your loan progressively as construction milestones are completed. In the first few years only a small portion is drawn, so your instalments are small whatever the rate.
Take an illustrative S$1.70m two-bedroom (based on analysts’ expected ~S$2,500 psf; no official prices yet) with a S$1,275,000 loan. Before TOP, the bank has disbursed only about S$595,000. At TOP, a further 25% of the price (S$425,000) is drawn, and another S$255,000 at CSC. Expected completion for LinkTown Residences has been reported as 2030/2031, and the launch is expected in early 2027 (UOL’s August 2026 results guide a 2H 2027 launch), so a two- or three-year fixed rate taken at booking would likely end before those big drawdowns.
What that means in practice:
- A cheap fixed rate at booking saves relatively little, because the loan balance is small during construction.
- The “thereafter” rate and the flexibility to reprice or refinance around TOP matter more.
- Check whether the package applies to uncompleted property; some are priced only for completed homes.
The progressive payment guide shows each stage in detail.
A rate-planning timeline for a new launch booking
If you book a unit at launch, your loan will pass through several rate decisions, not one:
- Before booking: get an In-Principle Approval and a dated package quote. The IPA confirms how much you can borrow; the quote shows today’s pricing.
- At the Sale and Purchase Agreement: the loan is formally accepted. Only a small amount is drawn at first.
- During construction: watch when your lock-in ends. Repricing to a new package with the same bank is often possible once it does.
- Around TOP: the largest drawdown arrives. This is usually the best moment to review your rate, because the balance and the instalment both jump.
- After CSC: the loan is fully drawn. Review again whenever a lock-in expires.
Setting a calendar reminder for each lock-in expiry is one of the simplest ways to avoid paying a higher thereafter rate for longer than you need to.
What a 0.5% rate difference costs
Using the same S$1,275,000 loan over 30 years, once fully drawn:
| Interest rate (assumption) | Monthly instalment | Change vs 2.0% |
|---|---|---|
| 1.4% (near the lowest advertised rates, September 2026) | S$4,339 | −S$374 |
| 2.0% | S$4,713 | — |
| 2.5% | S$5,038 | +S$325 |
| 3.0% | S$5,375 | +S$662 |
| 4.0% (TDSR stress test, as of September 2026) | S$6,087 | +S$1,374 |
Rates in this table are assumptions for illustration, not quotes. Today’s low rates may not be the rates you pay at TOP.
A 0.5% gap is roughly S$3,900 a year on this loan, which is why repricing after a lock-in is worth the paperwork. Note the gap between today’s advertised rates and the 4% stress test: banks assess your borrowing limit at the higher figure, not the promotional rate. Run your own numbers with the loan tool on the LinkTown Residences calculators page.
How banks set housing loan interest rates
- Benchmark: for floating loans, compounded SORA; fixed rates reflect the bank’s own funding cost and outlook.
- Spread: the margin the bank adds. It can differ by loan size, property type (completed or uncompleted) and borrower profile.
- Thereafter rate: what applies after the promotional period. For TDSR, banks use the higher of the 4% stress-test rate or the package rate (MAS rules as of September 2026).
- Minimum loan size: the best advertised rates often need a minimum loan quantum.
Best home loan rates in Singapore: compare beyond the headline
The lowest rate isn’t always the best package. Before you sign, compare:
- Lock-in period and the early repayment penalty (CPF Board cites around 1.5% of the amount repaid as typical).
- Thereafter rate, in writing.
- Subsidies and clawbacks: legal or valuation subsidies may have to be repaid if you refinance within a set period.
- Partial prepayment terms, useful if you expect to pay down the loan with HDB sale proceeds or bonuses.
- Repricing options with the same bank, which can be quicker and cheaper than refinancing.
- Uncompleted-property terms, including how disbursements are handled.
If you’re moving from an HDB flat, note that the HDB concessionary rate (2.6% a year, unchanged for October to December 2026) is not available for private property. Whatever the rate, the loan amount is still capped by TDSR at 55% of income and by the loan-to-value limits (as of September 2026).
Where to check current mortgage rates in Singapore
- MAS for SORA and compounded SORA, published daily.
- Bank websites and bankers for current packages; ask for the offer in writing with the date. Some banks also publish monthly 3M SORA tables.
- Mortgage brokers and comparison sites that compare several banks; note the update date and ask how they’re paid.
Paying part of your instalments with CPF doesn’t change the rate, but it changes your cash flow. Read using CPF to buy a private condo, and our home loan guide for new launch condos for the IPA-to-drawdown process.
Planning for LinkTown Residences? Register your interest to get price and launch updates, so you can line up a loan quote when it matters.
Rates change; not financial advice. SORA figure from DBS/POSB’s published 3M SORA table (1 Sep 2026); package rates from third-party comparison sites dated 4 and 21 September 2026; HDB rate from CPF Board (22 Sep 2026). Confirm with banks and MAS. TDSR, LTV and CPF rules are set by MAS and CPF Board and applied by each bank. Information is accurate as of September 2026. Published by an independent licensed salesperson, not the developer.
