Mortgage Refinancing Calculator Singapore (2026)

Typical refinancing costs in Singapore include legal fees (S$1,500–S$2,500) and a property valuation fee (S$300–S$600), totalling S$2,000–S$3,500. Some banks offer legal fee subsidies or cashback to offset these costs.

Most financial advisors recommend refinancing only if you can recoup the upfront costs within 24 months. If your break-even period exceeds your remaining lock-in period or exceeds 36 months, the refinancing may not be worth it.

A lock-in penalty (also called a clawback) is typically 1.5% of the outstanding loan amount, charged if you refinance or repay the loan during the lock-in period (usually 2–3 years). Always check your existing loan agreement before refinancing.

The best time to refinance is when your current lock-in period has ended and market interest rates have dropped significantly below your current rate. A 0.5% or more reduction typically makes refinancing worthwhile, especially for larger loan balances.

Yes, you can refinance from an HDB loan (2.6% p.a.) to a bank loan if rates are lower. However, note that once you switch to a bank loan, you cannot switch back to an HDB loan. Bank loans also require a minimum 20% downpayment from cash/CPF.

Repricing means switching to a new rate package with your existing bank — typically cheaper (S$200–S$800 fee) with no legal costs. Refinancing means switching to a new bank entirely — higher upfront costs but potentially better rates. Compare both options before deciding.

When you refinance, your CPF withdrawal limit resets based on your property's current market value, not the original purchase price. This can sometimes allow you to withdraw more CPF for loan repayment. Consult a mortgage broker for your specific situation.

For loan balances below S$200,000, refinancing savings may be too small to justify S$2,000–S$3,500 in upfront costs. Use this calculator to determine your specific break-even point and net benefit before committing.