Refinance Calculator
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FAQ
Frequently Asked Questions
What is Mortgage Refinance?
Refinancing replaces your existing loan with a new mortgage to get lower rates, more flexible payments, or shorter terms. Many Singapore homeowners refinance after the lock-in period to cut monthly costs and save tens of thousands in interest.
Whether you own an HDB or private condo, our mortgage advisors can help you find the most cost-effective refinance plan. Optimize your finances and make your mortgage work smarter.
Example
Current Loan
3.5%
Interest Rate
S$800k
Remaining
New Loan
2.8%
Interest Rate
S$800k
Remaining
Why Refinance?
Reduce total interest payments
For example, switching from a floating rate to a fixed rate locks in stable future repayments, or changing banks can provide better packages and services.
Consolidate multiple loans for better rates
If market interest rates drop, refinancing your home loan can secure a more favorable rate, potentially saving thousands to tens of thousands in interest over the long term.
Better loan structure
If you have multiple loans (e.g., a home loan plus a home equity loan), they can be consolidated into a single refinancing loan with unified repayments and a better interest structure.
Flexible repayments
Some banks offer flexible partial repayment or redraw options, helping clients manage their funds more efficiently.
Reduce monthly burden
Reducing interest rates or extending the loan tenure can lower monthly repayment pressure and improve cash flow, particularly for clients looking to free up cash for other purposes.
Property Cash-Out
You can also extract cash from the increased property value for renovations, investments, education, or other needs without selling the property. This is also known as a Home Equity Loan or Equity Term Loan.
What is Property Cash-Out?
Equity Term Loan allows borrowing against property appreciation or paid-off portion during refinance. Funds can be used for:
Example
Property valued at S$1,500,000 with S$800,000 outstanding may allow S$325,000 cash-out (subject to LTV).
Refinance Process
4 months before current loan ends
Assessment
Analyze existing loan
Determine potential interest savings
Compare Packages
Review latest bank rates
Choose best plan
Prepare Documents
We assist with full process
Submit Application
Documents submitted
Approval in 1–2 weeks
Review contract details
Sign & Disburse
Lawyer appointment
Sign documents with lawyers to complete bank transfer
Ongoing Support
Refinance reminders
Monitor rates
Optimize loan structure
Avoid penalties
Refinance Costs
Many banks offer legal fee subsidies, lowering actual costs. We help find the best deals.
Example
Lawyer Fee
S$2,000 – S$3,000
Loan & property transfer documents
Valuation Fee
S$300 – S$500
Property appraisal
Early Repayment Penalty
0% - 1.5%
During lock-in
New Bank Fee
Usually free
Bank subsidized
Fire Insurance Transfer
S$150 – S$200
Update beneficiaries
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※ Loan calculations are for reference only. Actual approval, rates, fees, and terms depend on the bank.※ EaseFlow complies with MAS regulations. Our service is free; bank commission does not affect your rate.※ We comply with PDPA. All personal data is encrypted and never shared without consent.※ Market analysis and rate trends do not constitute financial advice.※ Testimonials reflect real past experiences but do not guarantee future outcomes.※ For full terms, visit easeflowsg.com/terms-of-service.
