Plain-English answers to the most common questions we get — from first-time buyers to existing homeowners looking to refinance.
Yes, completely free for borrowers. EaseFlow is compensated by the bank when your loan is approved — the same way a property agent is paid by the developer. You never pay us anything, and there's no hidden fee buried in your rate.
You tell us about your property and loan details over WhatsApp. We then compare current packages from 10+ banks and present you with the best options for your situation — along with a plain-English explanation of the differences.
If you're happy with a package, we handle the application paperwork with the bank. No running around, no confusing forms.
We compare across all major Singapore banks including DBS, OCBC, UOB, Citibank, Standard Chartered, HSBC, Maybank, Bank of China, CIMB and more. We're not tied to any single bank, so our recommendation is always based on what's best for you.
No. Our consultation and rate comparison does not involve a credit check. A formal credit inquiry only happens when you proceed with a loan application — and you decide if and when that happens.
Absolutely. We'll check if that bank's current package is genuinely the best available, or if a competitor is running something better right now. Either way you'll make an informed decision — and it costs you nothing to check.
The main differences:
In most rate environments, bank loans are cheaper — but the HDB loan offers more safety if rates spike.
The HDB concessionary loan rate is pegged to the CPF Ordinary Account (OA) interest rate plus 0.1%. The CPF OA rate has been 2.5% for many years, making the HDB loan rate 2.6% p.a. It is reviewed quarterly but has been stable for a long time.
Yes. You can refinance from an HDB loan to a bank loan at any time — there are no lock-in penalties on the HDB side. However, once you've taken a bank loan for an HDB flat, you cannot go back to an HDB loan.
Many buyers start with the HDB loan for safety, then refinance to a bank loan once they're more comfortable with the commitment.
No. Executive Condominiums are built by private developers and bank loans apply from day one, even though ECs are subject to HDB eligibility rules. The HDB concessionary loan is only available for HDB-built flats (BTO and resale HDB).
For BUC properties, the 5% booking fee (OTP) is always in cash regardless of loan type.
Yes. CPF OA savings can be used to pay monthly installments on private and HDB properties. The CPF Board deducts the amount automatically each month once the arrangement is set up with your bank.
CPF usage is subject to the Valuation Limit (VL) — the lower of the purchase price or market valuation. Once CPF withdrawals reach the VL, you can only continue using CPF if the property's remaining lease covers you to at least age 95.
TDSR stands for Total Debt Servicing Ratio. It caps your total monthly debt obligations (all loans, credit cards, etc.) at 55% of your gross monthly income.
For example, if you earn $8,000/month, your total debt repayments cannot exceed $4,400/month. If you already have a car loan of $1,000/month, your maximum mortgage is $3,400/month.
TDSR applies to all property loans in Singapore — for both residents and non-residents.
MSR stands for Mortgage Servicing Ratio. It applies only to HDB flats and ECs purchased from HDB or a developer. It caps your monthly mortgage repayment at 30% of your gross monthly income.
MSR is more restrictive than TDSR, so for HDB buyers it's usually the binding constraint. If you earn $7,000/month, your maximum HDB mortgage is $2,100/month.
Yes — when you sell, you must refund all CPF used (principal + accrued interest at 2.5% p.a.) back to your CPF OA before you can pocket the cash proceeds. This is a common surprise for sellers.
The refunded amount goes back to your CPF (not lost), but it does reduce what you walk away with in cash at closing.
The best time to refinance is typically when:
A good rule of thumb: if you can save $200+/month, it's worth reviewing. We'll calculate the exact numbers for you — including any penalty for early exit if you're still in lock-in.
Yes, but there's usually an early redemption penalty — typically 1.5% of the outstanding loan. Whether it makes sense depends on how much you'd save on monthly payments and how many months of the lock-in remain.
In some cases the savings still outweigh the penalty, especially if you're only 1–2 years in. We'll work out the break-even point for you for free before you decide anything.
Typically around 3 months from application to completion. The timeline depends on how quickly documents are gathered and how fast the new bank processes the case. We manage the whole process and keep things moving so you don't have to.
The main costs:
Banks often offer subsidies to attract refinancers — free legal fees, cashback, or rate waivers. We'll factor all of this in when calculating your net savings.
Repricing means switching to a different package within your existing bank. It's faster (no lawyers needed) and usually has a fee of $500–$800, but the new rate may not be as competitive as what rival banks are offering.
Refinancing means switching to a different bank entirely. It takes longer and involves legal work, but often delivers better rates and may come with bank subsidies. We'll compare both options for you.
BUC refers to any property that has not yet received its Temporary Occupation Permit (TOP). This includes new launch condos, BTO HDB flats, and ECs still under construction.
The key difference from buying a completed property is that you don't pay the full loan upfront — you pay progressively as construction milestones are completed.
For private properties, the loan is drawn in stages as construction progresses. Common stages include foundation, reinforced concrete, partition walls, ceiling, windows and fittings, car park, and finally TOP. Each stage triggers a percentage of the purchase price becoming due.
During construction, you pay interest only on the amount drawn — not principal. Full amortization (principal + interest) starts after TOP.
This means your early payments are smaller but grow as construction advances. You can use our BUC Calculator to see the exact breakdown for each stage.
Not strictly required, but strongly recommended. You should get an In-Principle Approval (IPA) from a bank before signing the Option to Purchase (OTP). The IPA tells you how much you can borrow so you know you can complete the purchase.
We can help you get an IPA quickly — usually within 1–3 business days.
Full installments (principal + interest) typically begin after TOP, once the remaining loan has been fully drawn down. During the construction period you only pay interest on the progressive drawdown.
The exact timing depends on your loan package. Some banks offer interest-only during construction automatically; others require it to be specified. We'll make sure your package is structured correctly.
Standard documents for salaried employees:
For self-employed applicants, you'll also need the last 2 years' Notice of Assessment (NOA) from IRAS and business registration documents.
Yes. Banks assess self-employed applicants using the last 2 years' NOA (Notice of Assessment) from IRAS rather than payslips. Some banks average your income over 2 years; others use the lower of the two years.
The TDSR and MSR rules apply the same way — the income verification method is just different. We work with self-employed borrowers regularly and know which banks are more flexible.
For a completed property: typically 2–4 weeks once all documents are submitted. An In-Principle Approval (IPA) is faster — usually 1–3 business days — and is sufficient to secure an OTP.
For BUC properties, the full loan is approved but drawn progressively, so the initial approval follows the same 2–4 week timeline.
Yes, but during the lock-in period (usually 2–3 years) you'll face a prepayment penalty — typically 1.5% of the amount being repaid early.
After the lock-in ends, most packages allow full or partial redemption with no penalty. HDB loans have no lock-in and no prepayment penalty at all.
It depends on your package type:
Most people take fixed rates for peace of mind and then review at the end of the fixed period. We'll help you decide which structure makes sense for your situation.
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