DISCLAIMER: I work for Mortgage Master, a mortgage broker, so this will be a totally biased answer. It never hurts to go to a mortgage broker first. A mortgage broker's services are free and the best ones will advise you on the best option that will help you save money in the long run. This could mean finding the best bank home loan for you, or could even mean telling you not to refinance but instead to stick to the HDB loan because the amount you can save is not worth the effort of refinancing. For example, since your outstanding balance is about $110,000, and you only have 15 years left on your loan, it may not make sense to refinance now since you will incur upfront costs (such as legal fees and valuation fees) that a bank is unlikely to absorb due to your lower loan amount. A good mortgage broker will be able to present these calculations to you and help you make the right decision! Mortgage brokers will also know the best bankers to handle your specific needs and to ensure that the process of refinancing (should you choose it) is a seamless one. Once again, the mortgage broker's services are free, so it's best to consult one first before you make any decisions. But of course, as I said earlier, this is obviously a biased opinion haha When you go straight to a bank, you probably won't get to choose which banker handles your case, and you probably will be pushed a single home loan package, and not given the choice of several. Hope this helps!