TL;DR:

If I were still on the HDB Concessionary Loan for the mortgage of my flat, I would switch over to the POSB Home Loan in a heartbeat.

Why? $23,000 of savings and perks over a decade. Read on to find out how.


WHY I AM LOOKING AT HOME LOANS AGAIN

1) Prefer Lower Mortgage Rates

As mentioned in this earlier post, by refinancing from the HDB Concessionary Loan (HDB CL) to a bank loan 4 years ago, I was able to take a small advantage of the low SIBOR rates with some form of certainty, knowing that my mortgage interest would definitely not be above 2.5% for the next decade.

And right now, I am interested in paying even lower mortgage rates.

In this low interest rate environment, some banks have started to move away from the more volatile SIBOR rates and peg their home loans to …