How to Use Homejourney Mortgage Calculator: 5-Minute Guide

The Homejourney Mortgage Calculator lets you instantly determine your maximum borrowing capacity, monthly instalments, and TDSR/MSR eligibility using real-time SORA rates and Singpass-verified data—all in under 5 minutes.[1][2][3]

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 .[2][3]

Why Use Homejourney Mortgage Calculator?

Singapore's property market demands precise financial planning due to strict MAS regulations like TDSR (Total Debt Servicing Ratio at 55%) and MSR (Mortgage Servicing Ratio at 30% for HDB buyers).[1][3] The Homejourney tool serves as a TDSR calculator, MSR calculator, and borrowing capacity calculator, automatically applying these limits.[1][2]

Unlike manual spreadsheets, it integrates live data from partner banks including DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank. For instance, a first-time buyer earning S$8,000/month can check if a S$600,000 resale 4-room HDB flat in Bedok fits within limits, factoring in CPF Ordinary Account balance and existing debts.[2][3]

Homejourney's Singpass integration securely auto-fills your income, employment, and CPF details, minimizing errors and accelerating approvals. This creates a trusted, safe environment for confident property decisions.[1][4]

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

Access the calculator at Homejourney Bank Rates page via website or Singpass-verified app.[2] Follow these numbered steps for fast results:

Sign in with Singpass: Use Singpass for instant auto-fill of income, CPF OA balance, age, and employment data. This ensures accurate TDSR/MSR calculations per MAS rules—no manual entry errors.[1][3]
Enter Property Details: Input purchase price (e.g., S$1.2M Punggol EC), property type (HDB/condo/EC), downpayment (cash + CPF), and loan tenure (up to 30 years if under 35).[1][4]
Select Interest Rate Type: Choose 3M/6M SORA floating or fixed packages. Homejourney pulls live rates for realistic estimates.[2][5]
Review Affordability Scenarios: Toggle between forward (property price to loan) or reverse (income to max price) calculations. Stress-test for rate hikes up to 4% as per MAS guidelines.[1][3]
Generate Results: View breakdown: max loan amount, monthly EMI (e.g., S$800K at 2.7% over 25 years = ~S$3,800/month), total interest (~S$340K), CPF/cash split.[2][3]
Compare & Apply: See side-by-side bank offers, then submit one-click multi-bank application to all partners. Track status on Homejourney.[1][4]

Avoid pitfalls like ignoring existing loans—Singpass auto-includes them for precise TDSR.[3] For HDB upgraders in areas like Pasir Ris, this reveals eligibility gaps early.[1]

Understanding SORA Rates in Your Calculations

SORA (Singapore Overnight Rate Average) is the key benchmark for most Singapore home loans, replacing older fixed deposit rates. Homejourney's calculator uses live 3M and 6M SORA for projections.[1][5]

The chart below shows recent interest rate trends in Singapore:

As seen in the chart, SORA has fluctuated around 2.5-3% recently, impacting monthly payments. Use this to time your application—lower rates mean bigger loans under TDSR.[2][5]

Pro Tips for Accurate Results & Faster Approvals

Maximize CPF Usage: Check your OA balance first via CPF portal; Homejourney shows exact CPF vs cash downpayment splits.[3]
Stress-Test Aggressively: Always simulate +2% rate hikes to stay MSR/TDSR compliant long-term.[1]
Refinancing Check: Homeowners in Bukit Merah can save S$200+/month by inputting current loan details vs new SORA offers.[1][2]
Multi-Bank Power: After calculating, use one click loan application to apply multiple banks simultaneously—far faster than individual visits. Learn more in our guide: Benefits of Multi-Bank Application in One Click | Homejourney .[4]
Singpass Speed: Enables fast mortgage application with auto-verified data. Full steps: Step by Step Singpass Loan Application Guide | Homejourney .[3]

Post-calculation, search budget-matched properties on Property Search or analyze projects via Projects Directory . For maintenance, check Aircon Services .[2]

Documentation Checklist for Loan Application

Once calculated, proceed to loan application app on Homejourney. Prepare:

NRIC (auto-via Singpass)
Latest payslips (3 months)
CPF statements (auto-pulled)
ITR (if self-employed)
Property Option Fee receipt

Singpass handles 80% automatically, slashing processing to days.[1][6] Banks like DBS and OCBC respond within 1-3 days via platform tracking.

What Happens After Using the Calculator?

Results guide your next steps: if eligible, submit multi-bank application at Homejourney Bank Rates. Receive competing offers from DBS, OCBC, UOB, etc., side-by-side.[2][4]

Approval timelines: 1-7 days. Homejourney Mortgage Brokers offer free guidance. Always consult professionals; this tool aids planning, not financial advice (per MAS).[3] Link to bank rates comparison: How to Use Homejourney Bank Rate Comparison: Apply to Multiple Banks Instantly .

Frequently Asked Questions (FAQ)

How accurate is Homejourney Mortgage Calculator?
Singpass-verified data and live SORA ensure 95%+ accuracy under current MAS/HDB rules.[1][3]

Can I use it for refinancing?
Yes—input existing loan details to compare savings, e.g., S$200/month on Pasir Ris flats.[1][2]

What banks does multi-bank application cover?
DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, and more—one app reaches all.[4]

Is Singpass mandatory?
Recommended for precision; manual entry available but less accurate.[3][6]

How does it handle TDSR for joint applicants?
Averages household income/debts automatically via Singpass.[2]

Master how to use Homejourney Mortgage Calculator today for smarter borrowing. Visit Bank Rates now, then explore our Singapore Home Loans Complete Guide pillar for full insights. Homejourney: Safe, trusted property journeys.