How to Use Homejourney Mortgage Calculator: 2026 Guide
The Homejourney Mortgage Calculator is a free, Singpass-powered tool that instantly calculates your borrowing capacity, monthly repayments, and TDSR/MSR compliance for Singapore property purchases.
This cluster guide provides step-by-step instructions on how to use Homejourney Mortgage Calculator, connecting to our pillar content on Singapore Mortgage Financing. Homejourney prioritizes user safety with verified data and transparent calculations, helping you make confident decisions.
Why Homejourney Mortgage Calculator Stands Out for Singapore Buyers
In Singapore's regulated market, MAS enforces a 55% Total Debt Servicing Ratio (TDSR) for private properties and 30% Mortgage Servicing Ratio (MSR) for HDB flats. Homejourney's calculator auto-applies these limits using real-time data from partner banks like DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank.[1][2]
Unlike generic tools, it integrates Singpass for accurate CPF, income, and debt data, ensuring precise apply home loan Singpass and Singpass mortgage application readiness. Test scenarios like a S$600,000 Bedok resale HDB at 2.6% SORA over 25 years—expect around S$2,700 monthly, with TDSR checks preventing overborrowing.[1]
Homejourney builds trust through transparency: all rates reflect live SORA trends, and one application reaches multiple banks for the best offers. Visit https://www.homejourney.sg/bank-rates to start.[2]
Step-by-Step: How to Use Homejourney Mortgage Calculator
Follow these actionable steps for quick, accurate results. The process takes under 5 minutes with Singpass.[3]
- Access the Tool: Go to Homejourney's bank-rates page. This hub combines the calculator, rate comparisons, and digital loan application features.[2]
- Log in with Singpass: Click Singpass loan apply or MyInfo for auto-fill. It pulls your income, CPF Ordinary Account balance, age, and existing debts instantly—perfect for MyInfo home loan accuracy. No manual entry errors.[1][3]
- Enter Property Details: Select type (HDB BTO/resale, condo), price (e.g., S$520,000 Tampines 4-room), downpayment (5-25% cash/CPF), and tenure (up to 30 years HDB, 35 private).[1]
- Choose Rate Type: Pick SORA (3M/6M + margin like 0.40%), fixed, or bank packages. The tool uses current rates from partners.[2]
- Calculate & Review: See monthly EMI, total interest, principal split (early payments 70% interest), and eligibility (green if under TDSR 55%/MSR 30%). Adjust for stress tests.[1]
- Compare & Apply: View side-by-side offers, then submit one multi-bank application via Singpass. Track status on Homejourney.[2]
Pro tip: For Sengkang BTOs with grants, input 90% LTV to maximize borrowing. Link to Step by Step Singpass Loan Application Guide for details.[3]
Understanding Interest Rates and SORA Trends
Most Singapore loans peg to SORA (Singapore Overnight Rate Average), published by MAS. Homejourney tracks 3M and 6M SORA live for realistic estimates.[2]
The chart below shows recent interest rate trends in Singapore:
As seen in the chart, rates fluctuate—stress-test at +0.5% for safety. Compare packages at https://www.homejourney.sg/bank-rates.[1][2]
Documentation Checklist for Accurate Inputs
- Latest 3 months' payslips or IRAS tax assessment (via Singpass).
- CPF statements from CPFOA.gov.sg.
- Existing loan/credit card statements (under S$30k exempt from TDSR).
- HDB Letter of Offer for MSR (BTO applicants).
- Employment Pass for foreigners (60% TDSR cap).
Insider tip: Download CPF e-statements via Singpass before Bukit Merah showflats—avoids peak-hour queues. Prepare to boost approval odds.[1]
Pro Tips to Maximize Your Mortgage Eligibility
- Pay off cards first: Frees 5-10% TDSR headroom.
- Refinance test: Pasir Ris owners save S$200/month on Maybank SORA.[1]
- Multi-bank apply: One Homejourney submission hits all partners. See Benefits of Multi-Bank Application.[2]
- Shorten tenure: Cuts total interest but raises EMI—balance via calculator.
- Search budgeted properties: Use Homejourney property search post-calculation.
Homejourney's tools verify data for safety, but consult professionals for binding advice. Not financial advice—estimates only.[1]
What Happens After Calculation
Green eligibility? Submit multi-bank app—offers arrive in days. Track via dashboard. Red flags? Adjust downpayment or debts, recalculate.[3]
Post-approval, explore projects at projects directory or maintenance like aircon services. For full coverage, read our pillar on Singapore Mortgage Financing.[2]
Frequently Asked Questions (FAQ)
Q: How accurate is Homejourney Mortgage Calculator?
A: Highly accurate with Singpass data and real-time SORA/bank rates, applying MAS TDSR/MSR rules. Always verify with banks.[1]
Q: Can I use it for refinancing?
A: Yes—input current loan details to compare new offers from DBS to Citibank.[2]
Q: What's the fastest way to apply home loan Singpass?
A: Via Homejourney after calculation—one click sends to multiple banks. Full guide: Homejourney Singpass Guide.[3]
Q: Does it cover HDB grants?
A: Yes, factor in for BTO/resale to see boosted borrowing power.[1]
Q: How to compare bank rates?
A: Built-in tool shows side-by-side. See Bank Rate Comparison Guide.[2]
Ready to calculate your affordability? Visit Homejourney Mortgage Calculator today. Homejourney ensures a safe, trusted path to your dream home—start with trust, end with keys in hand. Link back to our pillar for complete mortgage insights.
