Home Loan Rates Singapore (September 2026): Fixed vs Floating for a New Launch

Home loan rates in Singapore have come down a long way since 2023–2024. For anyone weighing LinkTown Residences (Hougang Central Residences), the useful questions are narrower: what are banks advertising now, which package types are open to an uncompleted condo, and how much of the loan will you actually be paying on during construction? This guide covers all three, with dated sources.

Advertised rate ranges as of September 2026

Comparison sites track packages across banks. Their headline figures are the best case, usually for larger loans and strong borrower profiles, so treat them as the bottom of the range rather than what everyone gets.

Source and date	What it showed
PropertyNet, updated 4 Sep 2026	Completed private condo: 2-year fixed from 1.40%; floating from 1.39% (3M SORA + 0.20%). New launch (uncompleted): floating from 1.39% (3M SORA + 0.20%); no fixed packages listed. Indicative for a S$1m loan.
MortgageWise, 28 Sep 2026	Lowest floating from 1.38% with a 2-year lock-in (minimum loan S$1m). Notes that loans for uncompleted properties are mostly floating, often without a lock-in.
Nexus Mortgage, updated 13 Jul 2026	2-year fixed about 1.45%–1.65%; 3-year fixed about 1.55%–1.80%; SORA spreads about 0.20%–0.75%.

Put together, the lowest advertised private property packages sat at roughly 1.38%–1.45% a year in September 2026, with many fixed offers somewhat higher and SORA spreads ranging widely. For the benchmark behind floating packages, the DBS/POSB table shows 3M compounded SORA at 1.186% on 1 September 2026. Our SORA guide explains that number.

Fixed vs floating

	Fixed package	Floating (SORA) package
How the rate is set	Fixed for the first 2 or 3 years, then usually converts to floating	3M or 1M compounded SORA plus a spread, reset quarterly or monthly
Instalment	Steady during the fixed years	Moves with SORA
Lock-in	Commonly 2–3 years	Varies; some have none
Available for uncompleted condos	Less common	Most common
Suits	Buyers who want a known payment for budgeting	Buyers comfortable with changes, or who want flexibility to refinance

A fixed rate is not free insurance. Banks price it on where they expect rates to go, and after the fixed years your rate becomes a floating one anyway. A floating package passes rate changes straight to you, which helped borrowers in 2025–2026 and hurt them in 2022–2023. Our fixed vs floating guide works through a two-year scenario.

Lock-ins and the fine print

During the lock-in, repaying or refinancing costs a penalty, often a percentage of the amount repaid. Other terms worth checking:

• Thereafter rate: what you pay once the promotional years end.
• Free conversion: whether you can move to another package with the same bank.
• Partial prepayment: whether you can pay down the loan without a fee, and minimum amounts.
• Waiver on sale: whether the penalty is waived if you sell the property.
• Clawback: whether a legal or valuation subsidy must be repaid if you refinance within a set period.

How a new launch loan is drawn

For an uncompleted condo bought under the normal progressive payment scheme, the bank pays the developer as each construction stage is certified. You pay instalments only on what has been drawn so far, and the instalment grows as the project nears completion.

Stage	Cumulative paid	Loan drawn (approx.)	Monthly instalment (approx.)
Option to purchase + S&P	20%	S$0 (cash and CPF)	S$0
Foundation	30%	S$84,750	S$290
Reinforced concrete frame	40%	S$254,250	S$875
Walls to roads and drains	60%	S$593,250	S$2,040
TOP	85%	S$1,017,000	S$3,500
CSC	100%	S$1,271,250	S$4,375

The percentages follow the standard schedule on our payment scheme page. The last two rows are where most of the borrowing happens. For LinkTown Residences, with completion expected around 2030/2031, that means the rate you pay at TOP matters far more than the rate on the day you book. Many owners review their package at that point.

What a 0.5% difference costs

On the same fully drawn loan of S$1,271,250 over 30 years, 1.5% works out to about S$4,388 a month and 2.0% to about S$4,699. That is roughly S$3,700 a year for half a percentage point. Small spreads add up on a large loan, so it pays to compare.

Getting quotes when the time comes

• Get an in-principle approval early. It tells you how much a bank will lend based on your income and debts.
• Compare at least three banks, or use a mortgage broker. Brokers are usually paid by the bank, so ask how.
• Compare the all-in rate for every year of the lock-in and after, not just year one.
• Check that the bank lends on uncompleted properties from this developer group, and on what terms.

How much you can borrow depends on the Total Debt Servicing Ratio, which banks test at a 4% interest rate floor, not at today’s rates. Our TDSR guide shows the income needed for each indicative unit type at Hougang Central Residences, and how much condo you can afford adds the cash, CPF and stamp duty.

LinkTown Residences is expected to launch in early 2027, and UOL’s August 2026 results guide a 2H 2027 launch. Rates will almost certainly be different by then. Verify with MAS and your bank, and redo the sums with real prices once the price list is out.

Register to get LinkTown Residences prices and the payment schedule as soon as they’re released.

Frequently asked questions

What are home loan rates in Singapore now?

As of September 2026, comparison sites listed the lowest advertised private property packages at roughly 1.38% to 1.45% a year. Actual offers depend on loan size, property type and your profile, so get quotes from several banks.

Can I take a fixed rate loan for an uncompleted condo?

Fewer banks offer fixed packages for uncompleted properties. One comparison site’s September 2026 table showed only floating SORA packages for new launches. Ask each bank what it offers when you buy.

What is a lock-in period?

It is the period during which you pay a penalty, often a percentage of the amount repaid, if you refinance or repay the loan early. Fixed packages commonly lock in for 2 or 3 years.

When do I start paying the bank for a new launch condo?

Under the progressive payment scheme, the first 20% is paid with cash and CPF. With a 75% loan, the bank usually starts paying from the foundation stage, and you pay instalments only on the amount drawn.