New Launch vs Resale Mortgage Rates: Bank Comparison Guide | Homejourney
Mortgage for New Launch vs Resale Property: Bank Rate Comparison Guide reveals that new launch properties use BUC loans with progressive payments and lower initial rates around 1.11%-1.30%, while resale completed property loans offer fixed rates from 1.4%-1.8% for stability.
Homejourney prioritizes your safety by verifying real-time bank rates from DBS, OCBC, UOB, and more, helping you compare new launch mortgage and resale property loan options transparently. This cluster dives into tactical comparisons, linking back to our pillar guide on Singapore home financing for comprehensive coverage.
Key Differences: BUC Loans for New Launches vs Completed Property Loans
New launch properties require BUC loans (Buyer’s Under Construction), drawn down progressively from 5% at foundation to 60% at TOP, typically 3 years later. Interest matters less initially due to small disbursements, but expect a "pseudo lock-in" during construction.
Resale property loans fund completed homes immediately, ideal for quick moves like upgrading from HDB in Tengah to a resale condo in Bukit Timah. Floating rates often waive penalties on sale, unlike some fixed BUC options.
Homejourney's bank rates page shows progressive payment mortgage rates starting at 1M SORA + 0% (1.11% effective as of Feb 2026), versus completed property loan fixed rates from 1.30%.
Why Property Type Impacts Your Rate and Terms
HDB resale follows 2.6% concessionary rates, but bank loans dip below for private resales. New launches suit patient buyers; resales favor those needing immediate occupancy. MAS rules cap LTV at 75% for new launches under $1M, 80% for resales.
Insider tip: For new launches like those in Punggol, time refinancing at TOP when full loan activates—many wake up to better rates then.
Current Bank Rates: New Launch vs Resale Comparison (Feb 2026)
As of Feb 9, 2026, top rates include fixed from 1.30% and floating 1M SORA +0% (1.11%) for qualifying loans over $500k. Fixed packages for resales start below 1.8%, appealing for budgeting.
The chart below shows recent interest rate trends in Singapore:
SORA declined through 2025, easing floating rates faster than fixed. Use Homejourney's mortgage calculator to test scenarios.
Bank-by-Bank Breakdown for New Launch and Resale
- DBS: Fixed 1.4%-1.8% for resales ($700k min), BUC competitive due to SGD funding strength. Rebates $2,000-$2,800 on refinance. Best for large loans.
- OCBC: SORA +0.2% floating (1.31%), fixed 1.5%. Flexible for new launches, sale penalty waivers.
- UOB: Promo fixed 1.35% resales, BUC progressive with FC24 (free conversion after 24m).
- HSBC/Standard Chartered: Floating 1.11%-1.4%, strong for expats buying new launches.
- Maybank/CIMB/RHB: Rates 1.5%-2.0%, rebates $2,300, good for HDB resales.
Rates vary by profile; compare all on Homejourney bank-rates.
Pros, Cons, and Who Should Choose What
| Aspect | New Launch (BUC) | Resale (Completed) |
|---|---|---|
| Rate Focus | Long-term at TOP (1.4%+) | Immediate (1.11%-1.8%) |
| Lock-in | Pseudo 3yrs | 1-3yrs, sale waivers common |
| Best For | Patient investors | Families needing home now |
New launches risk rate hikes during build; resales offer certainty but higher upfront costs. HDB upgraders save vs 2.6% flat rate.
Actionable Steps: Secure the Best Mortgage on Homejourney
- Check Eligibility: Use our calculator for TDSR (60% debt cap).
- Compare Rates: View DBS vs OCBC on —real-time SORA updates.
- Apply Multi-Bank: One form via Singpass auto-fill; banks compete for you.
- Refinance at TOP: For new launches, reassess post-construction. See New Launch vs Resale Mortgages: Boost Approval Odds | Homejourney .
- Search Properties: Filter budgets on .
Disclaimer: Rates change; Homejourney verifies but consult brokers. Not financial advice.
FAQ: Mortgage for New Launch vs Resale Property
1. Are new launch mortgage rates higher than resale?
New launch BUC rates match resale initially (1.11%+), but focus shifts to TOP. Resales often get promo fixed rates.
2. Which banks waive penalties for resale sales?
Most floating loans (DBS, UOB) offer 50-100% waivers on sale. Check Homejourney for details.
3. Can I refinance a BUC loan early?
Limited; wait for progressive disbursements. Use our guide: New Launch vs Resale Property Mortgages: Homejourney Guide .
4. What's better for HDB upgraders?
Resale bank loans under 2% beat HDB 2.6%. Calculate on Homejourney.
5. How does Homejourney make this safe?
Real-time verified rates, Singpass apps, multi-bank bids—prioritizing your trust and security.
Ready to compare Mortgage for New Launch vs Resale Property: Bank Rate Comparison Guide? Visit Homejourney bank-rates now, link back to our pillar on Singapore mortgages, and connect with our brokers for personalized advice.
