How to Use Homejourney Mortgage Calculator: Step-by-Step 2026 Guide
The Homejourney Mortgage Calculator lets you instantly estimate loan eligibility, monthly payments, and total costs using real-time SORA rates and MAS rules like TDSR (55% debt cap) and MSR (30% for HDB)—all in under 5 minutes.[1][2][3]
This cluster article provides tactical steps for using the calculator, building on our pillar Singapore Home Loans Complete Guide. Homejourney prioritizes your safety with Singpass-verified tools, ensuring accurate results before you search properties on Homejourney Property Search.[1][2]
Why Choose Homejourney Mortgage Calculator for Singapore Buyers
Singapore's property market requires precise planning due to strict MAS regulations. The Homejourney Mortgage Calculator on our Bank Rates page factors in current rates from DBS, OCBC, UOC, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank.[1][2][4]
Unlike manual estimates, it auto-applies LTV limits (75% for first HDB, 55% for private over $1M), shows CPF/cash splits, and supports refinancing scenarios. For example, a $600,000 HDB resale in Tampines at 25 years and 2.6% SORA yields ~$2,700 monthly— but TDSR caps it based on your $6,800 income.[1][3]
Homejourney's tool integrates with multi-bank applications: calculate once, submit to all partners via Singpass for competing offers. This saves time and ensures you get the best rate in a trusted environment.[2][4]
Step-by-Step: How to Use the Homejourney Mortgage Calculator
Access the calculator at https://www.homejourney.sg/bank-rates#calculator or via the Singpass-verified Homejourney app.[1][2][5]
- Navigate to Bank Rates Page: Start here for calculator, rate comparisons, and applications. Use the app for on-the-go access.[1][2]
- Select Calculation Type: Choose maximum loan ("How much can I borrow?"), monthly instalment, affordability, or refinancing. First-timers pick affordability to align with Homejourney Projects Directory.[2][4]
- Input Personal Details: Enter age, gross income, debts, CPF. Singpass/MyInfo auto-fills via apply home loan Singpass for TDSR accuracy—no manual entry errors.[1][2]
- Add Property Details: Specify HDB/condo, price (e.g., $1.2M Punggol EC), downpayment, tenure (up to 30/35 years). Tool applies HDB/MSR rules.[3][4]
- Choose Rate Scenario: Pick 3M/6M SORA floating or fixed. Uses live rates for realism.[1][4]
- Calculate & Review: See EMI breakdown, total interest, stress tests. E.g., $800K loan, 25 years, 2.7% = ~$3,800/month.[2]
- Apply Multi-Bank: One-click Singpass mortgage application sends to all banks. Track offers on Homejourney.[4]
Pro Tip: Stress-test with +2% rates to prepare for hikes, per MAS guidelines. See How to Use Homejourney Bank Rate Comparison for next steps.[1][2]
Understanding Rates: SORA and Bank Comparisons
SORA (Singapore Overnight Rate Average) is the MAS benchmark for most floating loans. Current 3M SORA hovers around 2.6-2.7%, affecting packages from DBS, OCBC, and others.[1][4]
The chart below shows recent interest rate trends in Singapore:
As seen, rates have stabilized post-2025 peaks, aiding buyers. Use the calculator's rate selector to compare SORA-PEER (fixed margin) vs. fixed packages.[1][4]
TDSR and MSR: Built-in Compliance Checks
The calculator computes TDSR (total debts ≤55% income) and MSR (HDB housing ≤30% income) automatically.[3] For a $6,800 earner with $500 car loan, max housing debt is ~$3,410 (TDSR).[3]
Example: Bedok $600K resale—loan ~$450K after 25% downpayment, fitting MSR if income qualifies. Always verify with HDB portal, but Homejourney flags issues upfront.[3][4]
Read Apply Home Loan via Singpass Guide for digital loan application details.[2]
Pro Tips for Accurate Results & Approval
- Update CPF/income via Singpass loan apply for precision—auto-pulls OA balance.[2]
- Avoid pitfalls: Include all debts (credit cards at 5% utilization count).[3]
- Refinancers: Input existing loan to see savings, e.g., $200/month on Pasir Ris flat.[1]
- Boost eligibility: Pay down debts pre-calculation; max tenure by age 65/75.[3]
- Multi-bank edge: One MyInfo home loan app reaches 11 banks vs. individual visits.[4]
Disclaimer: Calculations are estimates; consult Homejourney Mortgage Brokers for personalized advice. Rates per MAS Jan 2026.[1][2]
What Happens After Calculation?
Review results, then apply via Bank Rates. Banks assess in 1-3 days; expect offers from 3-5 partners. Track status on Homejourney dashboard.[2][4]
Post-approval, search budget-fit properties on Property Search or maintain with Aircon Services.[1]
Frequently Asked Questions (FAQ)
How accurate is the Homejourney Mortgage Calculator?
Singpass integration and live SORA ensure 95%+ accuracy under MAS rules; final offers may vary slightly by bank review.[1][2]
Is Singpass required for the calculator?
No for calculations, yes for Singpass mortgage application to auto-fill and submit securely.[2][5]
Can I use it for refinancing?
Yes—input current details to project savings and apply to switch banks easily.[1][4]
What if I exceed TDSR?
The tool flags it instantly; tips include reducing debts or shorter tenure.[3]
How to compare bank offers after calculating?
Submit multi-bank app; view side-by-side on Homejourney. See Multi-Bank Benefits.[4]
Ready to master your finances? Use the Homejourney Mortgage Calculator now at Bank Rates for a safe, trusted path. For full coverage, check our pillar Singapore Home Loans Complete Guide.
