Singapore's main mortgage brokers in 2026 are Redbrick, Cashew, MortgageWise, DollarBack Mortgage, IcompareLoan, and FundMyHome. All offer rate comparison across 16+ banks and earn referral commissions from successful applications. Best practice: get IPA from 2-3 brokers (or directly from banks), compare effective rates including all promos, and choose based on best total cost over your lock-in period plus advisor responsiveness.
2026 Singapore mortgage broker landscape
| Broker | Banks covered | Strengths | Watch-outs |
|---|---|---|---|
| Redbrick | 16+ banks | Established (since 2014); strong advisor network; detailed comparison | Premium customer service but no rate "exclusive" |
| Cashew | 15+ banks | Modern tech-forward UX; rate alerts; fast turnaround | Newer player; smaller advisor pool |
| MortgageWise | 14+ banks | Tom Tsai (founder) — strong content + transparency | Smaller team; may have less negotiation power on premier packages |
| DollarBack Mortgage | 14+ banks | Wide coverage; strong refinance specialisation | Lead-gen-heavy site; quality varies |
| IcompareLoan | 13+ banks | Direct comparison tool; long history | Less proactive advisor follow-up |
| FundMyHome | 10+ banks | Focus on first-time buyer education | Smaller bank network |
Brokers receive S$500–S$1,500 per successful application from banks. This commission does not affect the rate you pay — banks set rates and brokers receive a flat referral fee.
Brokers vs going direct to banks
| Item | Via broker | Direct to bank |
|---|---|---|
| Rate offered | Same as direct | Same |
| Number of banks compared | 10-16+ in one call | 1 at a time |
| Advisor time | Single-channel advisor | Multiple bank relationship managers |
| Negotiation help | Yes (broker leverages volume) | You negotiate alone |
| Cost to borrower | None | None |
| Best for | First-timers, comparison shoppers, refinancers | Established bank relationships, simple applications |
How to choose between brokers
- Coverage: Does the broker cover the banks you're considering? Some brokers exclude foreign banks or HDB Concessionary Loans.
- Advisor responsiveness: Test by emailing a basic question; reply time and quality matters
- Rate transparency: Beware of "indicative rates" without lock-in terms; ask for the full package
- Refinance expertise: Some brokers specialise in refinancing (DollarBack); others in new purchases (Cashew)
- Disclosure: Reputable brokers disclose commissions and explain the package fully
Broker warning signs to avoid
- Pressure to apply immediately ("rate expires today")
- Vague on lock-in period or break-cost
- Refusing to put rate quotes in writing
- Asking for upfront fees (legitimate brokers earn from banks)
- "Exclusive" rates that aren't on the bank's own website (verify)
Multi-broker IPA strategy
Best practice: apply to 2-3 brokers simultaneously for IPA. This:
- Maximises your rate comparison breadth
- Creates competitive pressure on negotiations
- Doesn't affect your credit score if done within 14 days (single hard inquiry tradeline)
- Lets you pick the most responsive advisor
May 2026 reference rates
| Package type | Lowest market rate | Lock-in |
|---|---|---|
| Floating SORA | 1.04% (3M SORA + 0.25%) | 2 years |
| Fixed 2-year | 1.30% | 2 years |
| Fixed 3-year | 1.55% | 3 years |
| HDB Concessionary Loan | 2.60% | None |
Brokers access the same rates as direct applications. Rates update weekly. Verify directly with the bank before signing.
See Singapore mortgage framework.
FAQ
Do brokers get a kickback if I apply through them?
Yes — banks pay brokers S$500-1,500 per successful application. This does NOT affect your rate.
Can I switch from broker to direct?
Yes — you control the application. The broker assists but you sign with the bank.
Are HDB Concessionary Loans available via brokers?
Some brokers handle HDB loans; many specialise in bank loans only.
How do I verify a broker's claims?
Check rates directly on bank websites; request written package details; verify lock-in and break costs.
What if my broker is unresponsive?
Switch — there's no commitment until the bank application is submitted.