How to Use Homejourney Mortgage Calculator to Compare Multiple Bank Offers

The Homejourney Mortgage Calculator is designed to help Singapore buyers quickly check affordability, estimate monthly instalments, and prepare for a multi-bank home loan application in one place.

Instead of visiting each bank’s website separately, you can enter your details once on Homejourney, instantly see what you can afford, then compare multiple bank offers with a single loan application via Bank Rates .

How the Homejourney Mortgage Calculator fits into your home-buying journey

This guide is a focused part of Homejourney’s broader mortgage and home loan pillar content, which explains the full end-to-end financing journey from budgeting to completion.

Here, we zoom in on one tactical piece: how to use the Homejourney Mortgage Calculator step by step to plan your purchase, whether you are buying a BTO in Punggol, a resale HDB in Tampines, or a private condo in Queenstown.

In Singapore’s current interest rate environment, where floating home loan packages are commonly pegged to the 3M or 6M SORA published by MAS[3], using a calculator that is updated with real-time SORA-based rates helps you make safer, more realistic plans.

Homejourney Mortgage Calculator: What it does in one sentence

The Homejourney Mortgage Calculator estimates your maximum loan amount, monthly instalments and total interest costs based on your income, age, debts, property price and current bank rates, then connects you to a mortgage comparison service where you can apply to multiple banks with one secure Singpass-powered submission[1][2][6][7].

Step-by-step: How to use Homejourney Mortgage Calculator

Step 1 – Go to the bank rates & calculator page

Start at Homejourney’s Bank Rates section via Bank Rates .

This page brings together:

The mortgage calculator for affordability and instalment estimates Mortgage Rates
Bank rate comparison across DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, Citibank and more[2]
Home loan eligibility and pre-assessment tools[2][7]

If you prefer the app experience, you can also access the calculator via the Singpass-verified Homejourney app, which centralises your whole home journey including listings, bookings and loan tools[1][6][7].

Step 2 – Choose what you want to calculate

The calculator usually supports a few common goals:

Maximum loan / eligibility: “How much can I borrow?”
Monthly instalment: “If I borrow $X over Y years at Z% interest, what will I pay?”
Affordability: “Given my income and age, what property price is realistic?”
Refinancing scenario: “If I refinance my existing loan, how do my payments change?”

For first-time buyers, starting with maximum loan and monthly instalment gives a clear budget before you even shortlist units on Property Search .

Step 3 – Key in your basic profile (age, income, debts)

To calculate safely under MAS rules, the Homejourney Mortgage Calculator factors in Singapore’s Total Debt Servicing Ratio (TDSR) framework, which caps your total monthly debt obligations at 55% of your gross monthly income for private property loans[3].

Typical fields you will see include:

Age: Many banks cap the maximum loan tenure such that your age plus loan tenure does not exceed 65–75, depending on bank policy.
Gross monthly income: Include fixed salary and, where applicable, consistent variable income.
Existing debts: Car loans, education loans, credit card balances, personal loans etc.
Number of borrowers: Single or joint applicants (e.g. spouses).

Insider tip: In practice, your approved loan may be lower than a simple calculator suggests if you have substantial variable income or are self-employed, because banks usually apply income “haircuts” to variable and commission income according to MAS guidelines[3]. Use more conservative numbers if your income fluctuates.

Step 4 – Enter property details

Next, fill in key property-related fields so the calculator can estimate your loan-to-value (LTV) and cash/CPF requirements under current rules.

Common inputs include:

Property type: HDB BTO, HDB resale, EC, private condo, landed home.
Property price: Either your target budget (e.g. $650,000 for a 4-room resale HDB in Sengkang) or the actual asking price for a unit you’re eyeing.
Downpayment: How much cash + CPF you plan to use upfront.
Loan tenure: Up to 30 years for HDB and 35 years for private residential, depending on age and property type (subject to MAS/HDB rules).

The calculator uses these details to apply the prevailing LTV and minimum cash downpayment rules for HDB and private properties, based on official MAS and HDB frameworks[3].

Local example: If you’re buying a resale 4-room flat in Bedok around $600,000, the calculator can quickly show you the estimated loan amount, plus how much needs to be covered by CPF OA and cash, so you avoid surprises later when you receive the Option to Purchase.

Step 5 – Select rate type and reference rate (SORA vs fixed)

Singapore mortgages are commonly either:

SORA-pegged floating packages (e.g. 3M SORA + spread), referencing the Singapore Overnight Rate Average published by MAS.
Fixed-rate packages where the interest rate is locked in for a certain period.

Homejourney integrates real-time SORA tracking so your estimates reflect up-to-date interest levels rather than outdated assumptions[2][7].

You can usually:

Choose between a floating (SORA-based) and a fixed-rate scenario.
Adjust the assumed interest rate slightly higher or lower to stress-test your budget.

Pro tip from experience: When rates were higher, many Singapore buyers ran scenarios at +1% above current packages to see if they could still comfortably service instalments should SORA rise further. This is especially important for young couples stretching to buy in popular city-fringe areas like Queenstown or Bishan.

Step 6 – Review your monthly instalment and affordability

Once you hit calculate, the Homejourney Mortgage Calculator shows:

Estimated monthly instalment for your chosen loan amount and tenure.
Total interest payable over the life of the loan (useful for deciding whether to shorten tenure).
Whether your scenario fits TDSR/MSR limits based on your income and debts.

Compare this monthly instalment with your real-life budget including food, transport, childcare and parents’ allowances – especially if you live in central or city-fringe areas where daily living costs tend to be higher than in outlying estates.

Insider observation: Many young couples in mature estates like Ang Mo Kio and Clementi underestimate car-related expenses and enrichment classes for kids. Use a slightly lower comfort threshold than the calculator’s maximum to leave yourself breathing room.

Step 7 – Use the results to guide your property search

After you know your comfortable price range and instalment level, use Property Search to filter properties within your budget instead of browsing units you cannot safely afford.

Because Homejourney syncs verified listings from agents and keeps information updated[1][2], you avoid wasting time on stale, unrealistic listings while staying within the affordability limits calculated earlier.