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.
Why Use Homejourney Mortgage Calculator for Singapore Property Buyers
Singapore's strict MAS regulations like TDSR (Total Debt Servicing Ratio at 55% of gross income) and MSR (Mortgage Servicing Ratio at 30% for HDB) demand precise calculations to avoid rejections.[1][2][3] The Homejourney tool acts as your TDSR calculator, MSR calculator, and borrowing capacity estimator, auto-applying LTV limits (up to 90% for first-time HDB buyers) and age-based tenure caps (loan not exceeding age 65 or 30 years).[1][4]
Unlike manual spreadsheets, it integrates live SORA rate tracker data, showing live SORA rates including 3M SORA and 6M SORA tracking. This helps you monitor interest rates and set rate alerts for optimal timing.[1][2] For example, first-time buyers eyeing a S$520,000 Sengkang 4-room resale can instantly see if they qualify under current rules.
Homejourney prioritizes user safety and trust by verifying all data through Singpass integration, ensuring accurate, transparent calculations in a secure environment. This connects to our broader pillar on online home loan strategies—use this calculator before diving into full mortgage applications via Bank Rates .
Step-by-Step: How to Use Homejourney Mortgage Calculator
Follow these actionable steps for a convenient loan application and no queue mortgage experience:
- Access the Tool: Visit Homejourney Mortgage Calculator. Log in with Singpass for auto-fill of income, CPF, and employment data—your details pull securely in seconds.[1][3]
- Select Calculation Type: Choose from maximum loan (borrowing power), affordability (property price from income), monthly instalment, or refinancing. First-timers select 'maximum loan' for HDB eligibility.[1][4][5]
- Enter Property Details: Input price (e.g., S$520,000 Sengkang 4-room resale), property type (HDB/private), downpayment (5-25% cash/CPF per HDB rules), and tenure (up to 30 years or age 65).[2][3][5]
- Choose Rate Type: Select fixed or floating (e.g., 6M SORA at ~3.5%). The tool applies +4% stress tests per MAS rules.[1][4]
- Review Results: See max loan, monthly payments, CPF/cash split, and compliance. Compare apply bank online offers from DBS, OCBC, UOB, HSBC, and more.[1][2]
Pro tip: For HDB upgraders in Bedok (S$600,000 resale), start with affordability mode to match budgets to listings on Property Search .[3]
Understanding SORA and Interest Rates
SORA (Singapore Overnight Rate Average) is the benchmark for most floating-rate home loans in Singapore, replacing older fixed pegs. Banks like DBS and OCBC base loans on 3M or 6M SORA plus a margin (e.g., SORA + 0.7%).[1][2]
The chart below shows recent interest rate trends in Singapore:
As seen in the chart, rates have fluctuated, impacting monthly payments—use this to time your digital bank application.[1]
Key Features and Singapore-Specific Rules
Homejourney's calculator auto-applies:
- LTV Limits: 90% for first HDB, 75% private resale (MAS/HDB rules).[1][4]
- Downpayments: Min 5% cash for HDB resale, rest CPF Ordinary Account.[3]
- Stress Tests: +4% rate hike scenarios for TDSR compliance.[2]
- Multi-Bank Comparison: Rates from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, Citibank.[1][4]
Real example: A 30-year-old earning S$6,000/month can borrow ~S$550,000 for a 25-year HDB loan at 3.5% SORA, with ~S$2,800/month instalment (70% interest initially).[5] Always verify with banks, as this is indicative—Homejourney connects you to brokers for personalized advice.
Documentation Checklist for Applications
After calculating, proceed to apply bank online via Homejourney:
- Singpass Ready: Auto-fills NRIC, income, CPF.[1]
- Income Proof: Latest 3 payslips, tax assessment (IRAS).[4]
- CPF Statement: Auto-pulled, but have latest for reference.[3]
- Property Docs: Option to Purchase for resale.[2]
Skip queues with our multi-bank submission—one form to all partners. See Step by Step Singpass Loan Application Guide | Homejourney for details.
Pro Tips to Maximize Approval Chances
- Clear debts first to boost TDSR score.[1]
- Time applications when SORA dips (track via chart).[2]
- Use no queue mortgage multi-bank feature: One submission reaches 11 banks.[1]
- For refinancing (e.g., Bukit Merah condo), calculate savings (~S$200+/month).[4][5]
- Link to Benefits of Multi-Bank Application in One Click | Homejourney for more.
What to Expect After Using the Calculator
Results guide your property search on Property Search . Submit via Homejourney for offers in 1-3 days. Track status in-app. Post-purchase, explore Aircon Services for maintenance.
Disclaimer: Calculations are estimates based on MAS/HDB rules as of 2026. Consult banks or Homejourney brokers for binding quotes. Homejourney verifies data for trust but is not financial advice.
Frequently Asked Questions (FAQ)
How accurate is the Homejourney Mortgage Calculator?
99% accurate using live SORA and Singpass data per MAS/HDB rules. Confirm with banks.[1][3]
Can I use it for refinancing Bukit Merah properties?
Yes, input current details for S$200+/month savings potential.[1][4]
Does it cover all banks like DBS and OCBC?
Yes: DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public, Hong Leong, Citibank.[1][4]
Is Singpass login required for online home loan calculations?
For full accuracy yes, but guest mode available for estimates.[3]
How does it help with digital bank application?
Leads directly to multi-bank submission—no branches needed.[2]
Mastered how to use Homejourney Mortgage Calculator? Start calculating at https://www.homejourney.sg/bank-rates#calculator and explore our pillar on Singapore home loans for full guidance.
