How to Use Homejourney Mortgage Calculator: Your 5-Minute Guide
The Homejourney Mortgage Calculator is a free, Singpass-powered tool that instantly calculates your maximum borrowing capacity, monthly instalments, TDSR and MSR compliance, and stress-test scenarios using real-time SORA rates—all in under 5 minutes for Singapore property buyers.[1][2][3]
This cluster article dives deep into using the calculator, connecting back to our pillar Singapore Home Loans Complete Guide for comprehensive coverage. Homejourney prioritizes user safety and trust by verifying data via Singpass, ensuring transparent calculations aligned with MAS regulations like TDSR (55% debt cap) and MSR (30% for HDB).[1][3]
Why Singapore Buyers Need Homejourney's TDSR Calculator
In Singapore's property market, TDSR calculator, MSR calculator, and debt ratio calculator functions are essential to reveal eligibility limits and borrowing capacity TDSR. Many first-time buyers overlook stress tests at +4% rates, leading to rejected loans when applying for HDB flats in areas like Punggol or Sengkang.[1][2]
Homejourney's tool auto-applies LTV rules (e.g., 75-90% for first-time HDB buyers) and shows CPF Ordinary Account splits, preventing overcommitment. For example, a couple earning S$8,000 monthly might see a S$800,000 borrowing limit, but stress-tested for SORA hikes.[2][3]
Pro tip: HDB upgraders from resale 4-room flats in Bedok (around S$600,000) can toggle MSR mode to stay under 30% income cap, avoiding eligibility shocks.[1][4]
Step-by-Step: How to Use Homejourney Mortgage Calculator
Access the calculator at Homejourney Bank Rates page—your hub for rates from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank.[1][4]
- Log in with Singpass: Auto-fills income, employment, CPF data for accuracy—no manual entry errors. This Singpass integration speeds up by seconds and ensures a safe, verified process.[1][2][6]
- Select Calculation Type: Choose maximum loan (borrowing capacity TDSR), affordability (property price from income), monthly instalment, or refinancing. For a S$1M Punggol BTO, start with affordability.[1][3]
- Enter Property Details: Input price (e.g., S$520,000 Sengkang resale), downpayment (cash/CPF), tenure (up to 30 years), property type (HDB/private).[2][4]
- Choose Interest Rate Scenario: Pick 3M/6M SORA floating, fixed packages, or specific bank rates. Uses live data from MAS for realism.[1][5]
- Calculate & Stress-Test: Hit calculate for instant results: loan amount, EMI, interest, CPF/cash split, +4% stress test.[2][3]
- Review Results: See max loan, EMI (e.g., S$800K at 2.7% over 25 years = ~S$3,800/month, total interest ~S$340K), and compliance flags.[1][4]
Skip bank visits—use Homejourney's multi-bank application to send one form to all partners and track offers side-by-side.[1][2]
Understanding SORA Rates and Trends
SORA (Singapore Overnight Rate Average) is the benchmark for most floating mortgages in Singapore, replacing older SOR rates per MAS guidelines. 3M and 6M SORA directly impact your EMI, especially with current floating rates around 2.7%.[1][4]
The chart below shows recent interest rate trends in Singapore:
As seen in the chart, SORA has fluctuated, emphasizing the need for stress-testing. Lock fixed rates via Homejourney for stability if rates rise.[1][2]
Pro Tips to Maximize Borrowing Capacity
- Pay down other debts first: TDSR includes car loans or credit cards—clear them to boost capacity by 10-20%.[3]
- Use joint income: Couples can double limits; test scenarios for HDB eligibility.[2]
- Factor age caps: Max tenure is till 65 (HDB) or 75 (private)—shorter tenures raise EMI but lower total interest.[1][4]
- Refinance check: Current owners in Pasir Ris can save S$200+/month; compare via bank-rates.[1]
- Insider tip: For ECR buyers, use private property mode to bypass MSR—key for upgraders eyeing condos near MRT stations.[3]
After calculating, search properties in budget at Homejourney Property Search or explore projects at Projects .[1][2]
Documentation Checklist for Loan Applications
Once calculated, apply seamlessly via Homejourney:
- NRIC (auto via Singpass)
- Latest payslips (3 months)
- CPF statements (auto-pulled)
- ITR (if self-employed)
- Property Option Fee receipt
Singpass auto-fills 80%, cutting hassle. Track status on Homejourney—no endless bank calls.[1][6]
Disclaimer: Calculations are estimates; banks assess final eligibility. Consult Homejourney Mortgage Brokers for personalized advice—this is not financial advice.[1][3]
FAQ: How to Use Homejourney Mortgage Calculator
How accurate is the Homejourney Mortgage Calculator?
Highly accurate with live SORA, Singpass data, and MAS rules, but banks make final calls. Use as pre-check before Projects Directory .[1][3]
What's the difference between TDSR and MSR?
TDSR (55%) covers all debts; MSR (30%) is HDB-specific mortgage cap. Toggle in calculator for precise checks.[2][3]
Can I use it for refinancing?
Yes—input current loan details to compare savings. See How to Calculate If Refinancing is Worth It: Homejourney Guide .[1][4]
Does it compare bank rates?
Absolutely—side-by-side from DBS to Citibank. Learn more in How to Use Homejourney Bank Rate Comparison: 2026 Guide .[1][2]
How to apply after calculating?
One-click multi-bank submission via Singpass. Details in Step-by-Step Singpass Loan Application Guide | Homejourney .[6]
Ready to calculate your borrowing capacity TDSR? Visit Homejourney Mortgage Calculator now. For full Singapore home loans insights, check our pillar Singapore Home Loans Complete Guide. Homejourney: Safe, trusted property journeys start here.
