How to Use Homejourney Mortgage Calculator: 2026 Step-by-Step Guide

The Homejourney Mortgage Calculator is a free, Singpass-powered tool that instantly calculates your borrowing capacity, monthly instalments, and TDSR/MSR compliance for Singapore property purchases—all in under 5 minutes.[1][2][3][4][5]

This cluster article provides tactical steps for using the calculator, linking back to our pillar content on Singapore Home Loans Complete Guide. Homejourney prioritizes your safety with transparent tools that ensure regulatory compliance before you search properties via Property Search or explore Projects .[1][2]

Why Use Homejourney Mortgage Calculator Before Buying Property

In Singapore's competitive property market, using a mortgage calculator before buying prevents overextending your finances. Homejourney's calculator integrates real-time SORA rates from MAS and bank packages from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank.[1][2][3][4][5]

For example, a first-time buyer earning S$8,000/month can quickly see if a S$600,000 Bedok resale HDB fits within limits, factoring CPF Ordinary Account balance and existing loans. Homejourney's Singpass integration auto-fills income, employment, and CPF details securely, reducing errors and speeding up your journey to confident decisions.[1][2][4]

Unlike manual estimates, it enforces MAS guidelines: TDSR caps total debt at 55% of gross income, MSR limits HDB payments to 30%, and Loan-to-Value (LTV) ratios from 90% for first-time HDB buyers to 75% for private properties.[1][2][3][4]

Accessing the Homejourney Mortgage Calculator

Visit https://www.homejourney.sg/bank-rates, Homejourney's central hub for one click loan application and fast mortgage application. The calculator is embedded alongside real-time bank rate comparisons and multi-bank submission tools.[1][2][4][5]

You can access it via the Homejourney website or app, which verifies everything with Singpass for a safe, trusted experience. This positions Homejourney as your go-to platform for property transactions, prioritizing user safety and transparency.[1][6]

Step-by-Step Guide: How to Use Homejourney Mortgage Calculator

Follow these actionable steps for precise results tailored to Singapore's regulations.

Sign in with Singpass: Log in via Singpass for instant auto-fill of income, CPF OA balance, age, employment, and debts—essential for accurate TDSR and MSR calculations per MAS rules. No manual errors.[1][2][3][4]
Select Calculation Type: Choose from maximum loan, affordability, monthly instalment, or refinancing scenarios. For HDB upgraders, use affordability to see what fits your budget.[1][4][5]
Enter Property Details: Input type (HDB/condo/EC), price (e.g., S$1.2M Punggol EC or S$520,000 Sengkang 4-room resale), downpayment (cash + CPF, 5-25%), and tenure (up to 30 years or age 65).[1][2][3][4]
Choose Interest Rate Scenario: Select 3M/6M SORA floating, fixed packages, or specific bank rates. The tool pulls live data for realism.[1][2][5]
Calculate and Review: Get instant results: max loan amount, EMI (e.g., S$800K at 2.7% over 25 years = ~S$3,800/month), total interest (~S$340K), CPF/cash split, and stress tests up to 4% rate hikes.[1][2][3][5]
Adjust and Compare: Tweak variables to optimize; compare side-by-side bank offers from DBS to Citibank.[2][4]
Apply Multi-Bank: Use one click loan application to apply multiple banks simultaneously via loan application app. Track status and receive offers on Homejourney.[1][2][4]

This multi-bank application skips visiting branches, sending your details to all partners in one go for the best rates.[1][2]

Understanding SORA Rates in the Calculator

SORA (Singapore Overnight Rate Average) is the benchmark for most floating-rate home loans in Singapore, replacing older fixed pegs for greater transparency. The Homejourney Mortgage Calculator uses live 3M/6M SORA plus bank margins (e.g., 0.40-0.50%).[1][2][5]

The chart below shows recent interest rate trends in Singapore:

As seen in the chart, SORA has fluctuated around 2.7-3.2% recently, impacting EMIs. Use this to stress-test scenarios and time your fast mortgage application.[1][2][5]

Practical Examples for Singapore Buyers and Investors

Example 1: First-Time HDB Buyer – S$6,000 income, age 30, S$50,000 CPF OA, targeting S$520,000 Sengkang resale. Calculator shows max loan ~S$450K at 3.2% SORA, EMI ~S$2,200/month (under 30% MSR).[2][4]

Example 2: Condo Investor – S$12,000 income, existing car loan, S$1.2M Punggol EC. Results: S$900K loan feasible under 55% TDSR, but recommend increasing downpayment to lower EMI.[1][3]

Example 3: Refinancing – Current 3.5% fixed on Pasir Ris HDB; switch to 2.8% SORA package saves ~S$200/month. Homejourney makes this seamless with multi-bank quotes.[1][4]

These reflect real Singapore scenarios, helping you align budgets with areas like Bedok or Punggol via Projects Directory .[1][2]

Pro Tips to Maximize Your Results

Maximize CPF OA usage for downpayment to reduce cash outlay, but check grants via HDB portal first.[2][3]
Run scenarios with +1-2% rate hikes per MAS stress tests to future-proof.[1][5]
For investors, factor rental income (up to 70% countable under TDSR) accurately via Singpass.[2][4]
Avoid pitfalls: Don't forget existing debts; always verify LTV for your buyer status.[1][3]
Time applications when SORA dips, using the chart for insights.[5]

Documentation Checklist for Multi-Bank Application

After calculating, proceed to apply multiple banks seamlessly:

Singpass (auto-handles ID, income, CPF).
Latest payslips (3 months) or tax assessment (IRAS).
Employment letter or SIWES pass.
Bank statements (3-6 months) for existing loans.
Property Option to Purchase (OTP) details.[1][2]

Everything uploads securely; Homejourney verifies for faster approvals from DBS to Citibank.[4]

What to Expect After Using the Calculator

Post-calculation, submit via one click loan application for quotes within 1-3 days. Banks assess credit via Credit Bureau Singapore; approvals take 1-2 weeks. Track everything on Homejourney dashboard.[1][2][5]

Disclaimer: Calculations are estimates; consult Homejourney Mortgage Brokers or financial advisors for personalized advice. Rates subject to change per MAS.[1][3]

Frequently Asked Questions (FAQ)

Q: How accurate is the Homejourney Mortgage Calculator?
A: Extremely accurate as it uses Singpass-verified data and live SORA rates, enforcing TDSR/MSR/LTV rules. Results match bank assessments 95%+ of the time.[1][2][4]

Q: Can I use it for refinancing?
A: Yes, select refinancing mode to compare current vs. new rates from all partners like OCBC and UOB.[1][4][5]

Q: What if I don't have Singpass?
A: Manual entry is available, but Singpass is recommended for precision and speed in loan application app.[2][3]

Q: How does multi-bank application work?
A: One submission reaches DBS, HSBC, Maybank, and more; compare offers side-by-side on Homejourney.[1][2]

Q: Is it free?
A: Yes, fully free with no obligation. Connect with brokers via https://www.homejourney.sg/bank-rates.[4][5]

Ready to calculate? Head to the Homejourney Mortgage Calculator now for your fast mortgage application. For full Singapore home loan details, see our pillar guide. Homejourney ensures safe, trusted property journeys.