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]
Whether you're a first-time HDB buyer eyeing a S$520,000 resale flat in Sengkang or an investor assessing private condos in Bedok, this calculator ensures you stay within MAS regulations like 55% TDSR and 30% MSR limits.[1][2][5] It integrates live rates from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, and more, helping you compare bank rates Singapore without visiting branches.[1][4]
Key Benefit: Skip manual spreadsheets—use Singpass for auto-filled income, CPF, and employment data to get accurate, verified results that banks respect, reducing rejection risks.[1][3][6] This cluster article dives into step-by-step usage, connecting to our pillar Singapore Home Loans Complete Guide for full financing strategies. Visit Homejourney Mortgage Calculator to start.
Why Singapore Buyers Need Homejourney's Mortgage Rate Comparison App
Singapore's property market demands precision due to strict rules: TDSR caps total debt at 55% of gross income, MSR limits HDB mortgage payments to 30%, and LTV ratios max at 90% for first-time HDB buyers (75% for private properties).[1][2][5] Homejourney's mortgage rate comparison app acts as your TDSR/MSR calculator, borrowing capacity estimator, and bank rate comparison tool.[1][3]
For example, a couple earning S$8,000 monthly can borrow up to S$800,000 under TDSR, but the tool stress-tests at +4% rates to ensure affordability if SORA rises.[2][3] It pulls DBS OCBC UOB rates and others live, showing side-by-side comparisons like DBS's 2.7% package vs OCBC's 2.8% fixed.[1][4]
Homejourney prioritizes your safety with verified data and transparency, building trust as you plan purchases or refinancing. Unlike guesswork, it reveals CPF OA usage, cash downpayment splits, and total interest (e.g., S$800K loan at 2.7% over 25 years = ~S$3,800/month EMI, S$340K total interest).[1][2]
Step-by-Step: How to Use Homejourney Mortgage Calculator
Access the tool at Homejourney Bank Rates page or via the Singpass app for seamless integration.[1][2][6] Follow these actionable steps for precise results.
- Log In with Singpass: Tap Singpass for instant auto-fill of income, age, CPF balance, and debts—secure and accurate, no manual entry errors.[1][3][6]
- Select Calculation Type: Choose from:
- Maximum loan (borrowing power via TDSR).
- Affordability (max property price from income).
- Monthly instalment (EMI breakdown).
- Refinancing (savings vs current loan).[1][2][5] - Enter Property Details: Input price (e.g., S$600K Bedok 4-room HDB), type (HDB/private), downpayment (5-25% cash/CPF), tenure (up to 30 years or age 65).[1][3]
- Pick Interest Rate: Select 3M/6M SORA, fixed packages, or specific best mortgage rates from DBS, OCBC, UOB, etc. Live data ensures realism.[1][4]
- Calculate & Stress-Test: Hit calculate for instant results: loan amount, EMI, interest, CPF/cash split, and +4% stress test.[2][3]
- Review & Compare: See breakdowns and compare bank rates Singapore side-by-side. Export or apply multi-bank via one click.[1][2]
Pro Tip: For HDB upgraders, toggle MSR mode—it auto-applies 30% cap. Test scenarios like a S$1M Punggol BTO to avoid overcommitment.[1][5]
Understanding SORA and Current Bank Rates
SORA (Singapore Overnight Rate Average) is the benchmark for most floating mortgages in Singapore, replacing older SOR rates per MAS guidelines.[1][2] Banks peg loans to 3M/6M SORA + spread (e.g., SORA + 0.7%).
The chart below shows recent interest rate trends in Singapore:
As seen in the chart, SORA has hovered around 2.5-3% in recent months, impacting DBS OCBC UOB rates. Use Homejourney to compare: DBS often leads with competitive packages, while UOB suits longer fixed terms.[1][4] For best mortgage rates, check live updates and lock in before hikes.
Pro Tips to Maximize Homejourney Mortgage Calculator Results
- Stress-Test Aggressively: Always review +4% scenarios—essential for floating rates in volatile markets.[2][3]
- Combine with Property Search: Input results into Homejourney Property Search to find HDB/condos within budget.[1]
- Refinance Check: Homeowners in Pasir Ris (avg S$700K loans) can save S$200+/month by comparing vs current rates.[1][2]
- Multi-Bank Apply: After calculating, submit one app to DBS, OCBC, UOB, HSBC, etc.—track offers in-app. Read our Benefits of Multi-Bank Application in One Click | Homejourney ">Benefits of Multi-Bank Application.[1]
- Singpass Speed: Use for 99% faster, error-free apps. See Step by Step Singpass Loan Application Guide | Homejourney ">Singpass Loan Guide.[3][6]
Disclaimer: Calculations are estimates based on inputs and live data; banks assess final eligibility. Homejourney verifies info for trust but consult professionals for advice.[1][2]
Next Steps After Using the Calculator
With results in hand, compare full packages on Homejourney Bank Rates, apply multi-bank, or browse Projects ">Projects Directory.[1] Track SORA, connect with Homejourney Mortgage Brokers for personalized guidance.
Ready? Head to our Mortgage Calculator—safe, transparent borrowing starts here. For deeper insights, explore the Singapore Home Loans Complete Guide pillar.
FAQ: How to Use Homejourney Mortgage Calculator
How accurate is the Homejourney Mortgage Calculator?
Highly accurate with Singpass data, live SORA, and MAS rules—but banks confirm final terms. Use as reliable pre-check.[1][3]
Which banks can I compare with this tool?
DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong, Citibank—full bank rate comparison tool.[1][4]
Can I use it for refinancing?
Yes, input current loan details to see savings. Ideal for 2026 rate environments.[2][5]
What's the difference between TDSR and MSR?
TDSR (55% all debts) for all; MSR (30% HDB only). Tool auto-applies both.[1][5]
How do I apply for loans after calculating?
One-click multi-bank submission via Singpass—receive offers from top banks.[1][6]
