How to Use Homejourney Mortgage Calculator: Step-by-Step 2026 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][4]
Whether you're a first-time HDB buyer in Sengkang, an upgrader eyeing a Bedok resale flat, or a condo owner in Bukit Merah considering refinancing, this calculator applies Singapore's strict MAS regulations automatically to give you precise, trustworthy results. Homejourney prioritizes your safety by verifying data through Singpass and providing transparent comparisons from partner banks like DBS, OCBC, and UOB.[1][2]
Why Singapore Buyers Need the Homejourney Mortgage Calculator
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]
For example, a 30-year-old earning S$6,000 monthly can quickly see if a S$550,000 Sengkang 4-room resale fits within limits—often revealing a max loan of S$468,000 with ~S$2,200 monthly payments at 2.7% over 25 years.[1][5] This prevents overextending before committing to an Option to Purchase.
Key Features and Singapore-Specific Calculations
Homejourney's calculator auto-applies MAS and HDB rules: LTV limits (90% first HDB, 75% private resale), minimum 5% cash downpayments for HDB, and +4% stress tests for TDSR compliance.[1][2][4] It factors principal-interest splits—early years are ~70% interest—and shows CPF OA vs cash requirements.
For refinancing, input your existing loan (e.g., Bukit Merah condo at 3.2%) to compare against current best rates from multiple bank offers, potentially saving S$200+/month.[1][5] Use it to compare bank offers from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, and more via our bank rates page.
Understanding SORA Rates in Your Calculations
SORA (Singapore Overnight Rate Average) is the benchmark for most Singapore floating-rate loans, with 3M and 6M compounds used by banks like DBS and OCBC. Homejourney pulls live SORA data for accurate projections.[1][4]
The chart below shows recent interest rate trends in Singapore:
As seen in the chart, SORA has fluctuated around 3-3.5% recently, impacting monthly payments—vital for timing your single loan application.[1][4]
Step-by-Step: How to Use Homejourney Mortgage Calculator
Follow these actionable steps for quick results. Access it at Homejourney's mortgage calculator.
- Log in with Singpass: Auto-fills your income, employment, CPF balance, and age instantly—no manual entry needed for accuracy and speed.[1][2]
- Select Calculation Type: Choose from maximum loan (borrowing power), affordability (property price from income), monthly instalment, or refinancing. First-timers pick 'maximum loan'.[1][5][6]
- Enter Property Details: Input price (e.g., S$520,000 Sengkang 4-room), type (HDB/private), downpayment (5-25% cash/CPF), and tenure (up to 30 years or age 65).[2][5]
- Review Results: Get instant breakdown: max loan (e.g., S$468,000), EMI (~S$2,200/month), total interest (~S$190,000), CPF/cash split, TDSR/MSR flags, and +4% stress test.[1][2]
- Adjust & Apply: Tweak tenure/rates, then submit one single loan application to all partner banks. Track multiple bank offers side-by-side.[1][4]
Pro tip: For HDB in Pasir Ris, factor Enhanced CPF Housing Grant— the calculator flags eligibility.[4] Avoid pitfalls like ignoring stress tests, which reject 20-30% of applications per MAS data.[2]
Documentation Checklist for Accurate Inputs
- Singpass-ready NRIC: Primary login—ensures verified data.[1]
- Latest Payslips/Income Proof: Auto-pulled, but upload if self-employed (from IRAS e-Services).[3]
- CPF Statement: Recent OA balance for downpayment calcs (download from CPF portal).[4]
- Existing Loan Details (Refi): Current balance, rate, tenure from bank statements.[5]
- Property Price/OTP: From seller or Homejourney property search.[4]
Prepare these in advance to skip delays. Homejourney's Singpass integration auto-verifies 90% of info, prioritizing your security.[1][2]
Pro Tips to Get the Best Loan Offer
- Time with SORA Dips: Use the chart above—apply when rates trend down for better best loan offers.[1]
- Leverage Multi-Bank: One app to DBS, OCBC, UOB, HSBC etc. saves weeks vs individual visits. See Benefits of Multi-Bank Application in One Click | Homejourney ">Benefits of Multi-Bank Application.[1][4]
- Stress-Test Early: Ensure +4% scenario passes TDSR to boost approvals.[2]
- Refi Check: If existing rate >3.5%, compare now—savings add up (e.g., S$200/month on S$800k loan).[5]
- Consult Brokers: After calc, connect via bank-rates for personalized advice.[1]
Insider tip: First-time buyers often overlook age caps— a 45-year-old maxes at 20-year tenure, slashing borrowing by 20%.[3] Always verify with HDB for grants.
What to Expect After Using the Calculator
Results show green flags for eligibility, then submit via Singpass for mortgage comparison service. Banks assess in 1-3 days, sending offers trackable on Homejourney. Expect 2-4 competitive quotes—pick the best loan offer based on rate, fees, tenure.[1][4]
Processing: 7-21 days to formal approval. Use savings to browse properties or maintain with Aircon Services ">aircon services. Disclaimer: Calculations are estimates; consult banks for binding quotes. Homejourney verifies data but isn't financial advice.[2][3]
Frequently Asked Questions (FAQ)
How accurate is the Homejourney Mortgage Calculator?
It uses live SORA and Singpass data with exact MAS/HDB rules for 99% accuracy. Confirm with banks for final.[1][3][6]
Can I use it for refinancing Bukit Merah condos?
Yes, input details to compare rates—save S$200+/month vs current offers from UOB or HSBC.[1][4][5]
Does it support HDB grants and MSR?
Absolutely—flags MSR at 30%, LTV 90%, and grants for first-timers.[2][4]
How do I compare multiple bank offers?
After calc, submit one app—track DBS, OCBC etc. side-by-side. Read our How to Use Homejourney Bank Rate Comparison: 2026 Guide ">Bank Rate Comparison Guide.[1]
Is Singpass mandatory?
Recommended for auto-fill accuracy; manual entry available but less precise.[1][2]
Mastering the Homejourney Mortgage Calculator empowers confident decisions in Singapore's market. Start calculating today at https://www.homejourney.sg/bank-rates#calculator, then explore our pillar guide on for full coverage. Homejourney ensures a safe, trusted path to your dream home.
