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]
Access it at Homejourney's bank rates page to determine if a S$600,000 Bedok resale HDB fits your budget before viewing properties. This cluster focuses on step-by-step usage, linking back to our pillar guide on Singapore home loans for comprehensive financing advice.[1][4]
Why Singapore Buyers Need 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 couple earning S$8,000 monthly might see a S$800,000 borrowing limit on a Punggol BTO, but stress-tested for SORA hikes to 4%.[2][3] Homejourney prioritizes user safety by verifying data via Singpass, ensuring transparent, trustworthy results in a competitive market.[1]
Step-by-Step: How to Use Homejourney Mortgage Calculator
Follow these actionable steps for a convenient loan application without queues. No downloads needed—use it directly on Homejourney.[1][5]
- Log in with Singpass: Visit https://www.homejourney.sg/bank-rates#calculator. Authenticate via Singpass for instant auto-fill of income, CPF OA balance, age, and existing debts. This ensures 99% accurate digital bank application data, skipping manual errors.[1][2][5]
- Select Calculation Type: Choose from maximum loan (for borrowing power), affordability (property price from income), monthly instalment, or refinancing. First-timers select 'maximum loan' to assess HDB eligibility.[1][4]
- 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]
- Choose Interest Rate Scenario: Pick 3M/6M SORA floating (current ~2.7% + 0.4% margin), fixed packages, or live rates from partners like DBS, OCBC, UOB.[1][3] The chart below shows recent interest rate trends in Singapore:
As seen in the chart, SORA has fluctuated, impacting monthly payments—use this to stress-test.[1][4]
- Calculate & Review: Hit calculate for instant results: loan amount, EMI (e.g., S$800K at 2.7% over 25 years = ~S$3,800/month), total interest (~S$340K), CPF/cash split, and compliance flags (green for eligible).[1][2]
- Adjust & Apply: Tweak variables, then submit one no queue mortgage application to DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, and more. Track offers side-by-side.[1][4]
Pro tip: For HDB upgraders from Bedok resale flats (~S$600K), toggle MSR mode to confirm 30% income cap compliance before Property Search .[1][3]
Key Features for Accurate Calculations
Homejourney's calculator integrates live SORA from MAS, applying LTV (75-90% for HDB) and minimum cash downpayments automatically.[1][4]
It shows principal-interest splits (early years ~70% interest) and +4% stress tests, vital for floating rates. Compare apply bank online offers instantly, e.g., DBS vs OCBC packages.[2][5]
Refinancing example: Pasir Ris condo owners input current loan to see S$200+ monthly savings versus new SORA rates.[1] Link results to Projects Directory for matching properties within budget.[3]
Documentation Checklist & Pro Tips
Prepare these for seamless Singpass online home loan submission:
- NRIC (auto-pulled)
- Latest payslips/income docs (3 months)
- CPF statements (auto via Singpass)
- Existing loan details (if refinancing)
- Property Option details (post-calculation)
Insider tips: Calculate before BTO ballot—e.g., Tengah flats under S$500K. Avoid pitfalls like ignoring age caps (under 65). Increase approval by maintaining low credit utilization.[1][2] For multi-bank benefits, read One-Click Multi-Bank Loan Benefits: Homejourney Guide .[4]
Disclaimer: Calculations are estimates based on MAS/HDB rules; consult banks for final approval. Homejourney verifies data for safety but is not financial advice.[1][3]
What to Expect After Using the Calculator
Banks assess via TDSR/MSR within 1-3 days. Receive side-by-side offers from partners like HSBC, Citibank. Track status on Homejourney—no branch visits.[1][5]
Approved? Proceed to Property Search for properties. Post-purchase, explore Aircon Services for maintenance. For Singpass steps, see Step by Step Singpass Loan Application Guide | Homejourney .[2]
Frequently Asked Questions (FAQ)
How accurate is the Homejourney Mortgage Calculator?
It uses live SORA rates and Singpass data, applying exact MAS/HDB rules for 99% accuracy. Always confirm with banks.[1][3]
Can I use it for refinancing?
Yes, input current loan details to see savings, e.g., S$200+/month on Bukit Merah condos.[1][4]
Is Singpass mandatory?
Recommended for precision, but manual entry available. Singpass enables digital bank application to multiple banks instantly.[5]
What if I'm an HDB upgrader?
Toggle MSR mode for 30% cap checks, perfect for resale-to-BTO moves like from Bedok to Punggol.[2][3]
How does it handle SORA fluctuations?
Live rates + stress tests show impacts, as in the chart above. Time applications via How to Use Homejourney Bank Rate Comparison: 2026 Guide .[1]
Master the Homejourney Mortgage Calculator today for smarter borrowing. Visit https://www.homejourney.sg/bank-rates to calculate, compare, and apply securely. Link back to our pillar on Singapore mortgages for full guidance—Homejourney builds trust through transparency and verified tools.
