A residential home loan in Singapore, often referred to as a mortgage, is a type of financial product provided by banks and financial institutions to help individuals and families purchase residential properties, such as houses, condominiums, apartments, or other types of residential real estate.

The loan amount typically covers a portion of the property’s purchase price, and borrowers are required to make a down payment from their own savings. In Singapore, the Loan-to-Value (LTV) ratio is regulated by the government and may vary depending on factors like the borrower’s citizenship, the type of property, and whether it’s the borrower’s first or subsequent property purchase.

Interest rates can be either fixed or variable and may be based on benchmarks such as the Singapore Overnight Rate Average (SORA).

The loan tenor, or the period over which borrowers repay the loan, can vary but is often up to 25 to 30 years. Longer loan tenors may result in lower monthly repayments but higher overall interest costs.