How to Use Homejourney Mortgage Calculator: Your Complete 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.[1][2] Whether you're a first-time buyer, upgrader, or investor, this calculator eliminates guesswork by automatically applying Singapore's strict MAS regulations and current interest rates to your actual financial situation.[1]
Unlike manual spreadsheets or rough estimates that either underestimate your budget or dangerously overcommit you financially, Homejourney's calculator enforces TDSR (Total Debt Servicing Ratio) limits, MSR (Mortgage Servicing Ratio) caps for HDB buyers, and current LTV (Loan-to-Value) rules—ensuring you stay within safe, regulatory-compliant limits before you even shortlist a property.[2][3]
Why Singapore Buyers Need the Homejourney Mortgage Calculator
Singapore's property market operates under strict regulations that most buyers don't fully understand. TDSR (Total Debt Servicing Ratio) caps your total monthly debt payments at 55% of your gross income, while MSR (Mortgage Servicing Ratio) limits HDB mortgage payments to just 30% of gross income.[1][2] These aren't suggestions—banks will reject your application if you exceed these limits, no matter how much you've saved for a down payment.
The Homejourney calculator acts as your TDSR calculator, MSR calculator, and borrowing capacity estimator all in one, automatically applying LTV limits (up to 90% for first-time HDB buyers, down to 75% for private properties) and age-based tenure caps (ensuring your loan doesn't extend past age 65 or exceed 30 years).[3][4] This means you'll never receive a rejection surprise after falling in love with a property.
For example, a first-time buyer earning S$8,000/month can quickly see if a S$600,000 Bedok resale HDB fits within limits, factoring in their CPF Ordinary Account balance and any existing loans—all in seconds.[2][3]
Key Singapore Regulations Built Into the Calculator
The calculator automatically enforces current MAS and HDB rules that would take hours to calculate manually:[1][2][3][4]
- TDSR Cap: Total debt payments cannot exceed 55% of gross monthly income
- MSR Cap: HDB mortgage payments limited to 30% of gross income
- LTV Limits: 90% for first-time HDB buyers; 75% for subsequent HDB purchases; 75% for private properties
- Age-Based Tenure: Loan tenure cannot extend past age 65 or 30 years, whichever is shorter
- CPF Rules: Automatically calculates CPF Ordinary Account usage and cash down payment requirements
- SORA Integration: Uses live 3M and 6M SORA rates from partner banks including DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank[3]
By integrating real-time SORA rates, MAS regulations, and your actual CPF and income data via Singpass, this tool eliminates guesswork and ensures your calculations reflect your genuine financial situation.[1]
Step-by-Step: How to Use the Calculator
Step 1: Log In with Singpass
Start by accessing the Homejourney Mortgage Calculator via the Bank Rates page. Click "Calculate Your Eligibility" and authenticate using your Singpass credentials.[1][2] This Singpass integration is critical—it auto-fills your verified income, employment status, CPF Ordinary Account balance, and existing loan obligations in seconds, eliminating manual data entry errors.[1]
Homejourney prioritizes your safety by using Singpass verification, ensuring only authenticated financial data is used for calculations. This transparency builds trust and prevents the common mistake of overestimating your borrowing power.[2]
Step 2: Select Your Calculation Type
Choose from four calculation scenarios based on your needs:[1][2][5]
- Maximum Loan: "What's the most I can borrow?" Best for first-timers assessing borrowing power
- Affordability: "Given my income and age, what property price is realistic?" Reverses the calculation, starting with your financial capacity and working backward to property price
- Monthly Instalment: "What will my monthly payments be for this specific property?" Use this to stress-test specific properties or loan amounts, understanding the principal, interest, and CPF/cash split
- Refinancing Scenario: "If I refinance my existing loan, how much will I save?" Current homeowners in areas like Pasir Ris or Bukit Merah can use this to compare their existing rate against new market offers and potentially save S$200+ per month[1]
Step 3: Enter Property Details
Input your property information with precision:[1][2][3]
- Property Price: Enter the exact purchase price (e.g., S$520,000 for a Sengkang 4-room resale)
- Property Type: Select HDB flat or private property—this determines whether MSR or TDSR applies as your primary constraint
- Down Payment: Specify your cash/CPF split (typically 5-25% down, with the remainder financed)
- Loan Tenure: Choose your preferred loan period (up to 30 years, but capped by your age)
The calculator uses these details to apply prevailing LTV and minimum cash downpayment rules for HDB and private properties, based on official MAS and HDB frameworks.[4] For example, if you're buying a resale 4-room flat in Bedok around S$600,000, the calculator quickly shows the estimated loan amount, plus how much needs to be covered by CPF OA and cash—so you avoid surprises later.
Step 4: Choose Your Interest Rate Scenario
Select from current market options:[1][8]
- 3M SORA Floating: Rate adjusts every 3 months based on market conditions
- 6M SORA Floating: Rate adjusts every 6 months (more stable than 3M)
- Fixed Rate Packages: Lock in a fixed rate for 1-3 years, then convert to floating
- Live Bank Rates: See actual rates from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, and other partners
The calculator also factors in stress-test scenarios, showing how rate increases affect your repayment ability—critical knowledge in Singapore's floating-rate environment where 3M and 6M SORA fluctuate with market conditions.[4]
Understanding Your Results
Once you hit "Calculate," the Homejourney calculator delivers an instant breakdown:[2][3]
- Maximum Loan Amount: The largest loan you can borrow while staying within TDSR/MSR limits
- Estimated Monthly EMI: Your exact monthly instalment (principal + interest)
- Total Interest Payable: The full interest cost over your loan tenure
- CPF/Cash Split: How much comes from your CPF Ordinary Account vs. cash down payment
- Stress Test Results: Shows how a +4% rate increase would affect your monthly payments and whether you'd still qualify
- Regulatory Compliance: Confirms you meet TDSR, MSR, LTV, and age-based tenure requirements
This transparency ensures you understand exactly what you can afford before committing to a property purchase.
Real-World Example: Using the Calculator
Let's walk through a practical scenario. You're a 32-year-old first-time buyer earning S$7,500/month with S$80,000 in CPF Ordinary Account savings. You want to buy a S$550,000 resale 4-room HDB in Sengkang with a 15% down payment.
Using the Homejourney calculator:[1][2]
- Log in with Singpass—your income and CPF balance auto-fill
- Select "Maximum Loan" to assess your borrowing power
- Enter S$550,000 property price, HDB type, 15% down payment (S$82,500), 25-year tenure
- Choose 6M SORA floating rate (currently around 3.5%)
- Calculate
Results show: Maximum loan of S$467,500, monthly EMI of approximately S$2,180, total interest of S$87,400. Your TDSR is 29% (well under 55%), and MSR is 29% (exactly at the HDB cap). You're approved to proceed—no surprises later.
From Calculation to Application: The Multi-Bank Advantage
Once you've confirmed your borrowing capacity, the next step is finding the best loan offer. This is where Homejourney's integrated approach saves you weeks of bank visits.[1][2][4]
After calculating your eligibility, you can immediately access Benefits of Multi-Bank Application in One Click | Homejourney to compare rates from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, and more—all in one place. Instead of visiting each bank separately, you submit one application through Homejourney's Singpass integration, and your details automatically reach all partner banks.[1][4]
Within days, you'll receive competing offers side-by-side on the Homejourney platform. You can compare interest rates, processing fees, lock-in periods, and total interest costs—then select the best offer without ever stepping into a branch.[1][2]
Pro Tips for Maximizing Your Calculator Results
Tip 1: Test Multiple Scenarios Don't stop at one calculation. Use the affordability mode to see what property prices fit your budget at different tenure lengths (20 vs. 25 vs. 30 years). This reveals how an extra 5 years extends your purchasing power.[1][2]
Tip 2: Stress-Test Aggressively The calculator shows a +4% rate stress test, but consider testing even higher scenarios. If you're uncomfortable with a 6% interest rate, you're overextending yourself. Singapore's floating rates could rise further, and your monthly payments would follow.[4]
Tip 3: Account for Existing Debt The Singpass integration automatically includes your existing loans (car loans, credit card debt, personal loans) in your TDSR calculation. If you have S$500/month in car loan payments, that reduces your borrowing power significantly. Clear high-interest debt before applying.[1][2]
Tip 4: Use the Refinancing Mode If you're already a homeowner, use the refinancing scenario to compare your current rate against new market offers. Many borrowers don't realize they could save S$200-300/month by refinancing—and the Homejourney calculator makes this comparison instant.[1]
Tip 5: For HDB Upgraders, Toggle MSR Mode If you're upgrading from a 3-room to a 4-room HDB, toggle the MSR mode to auto-apply the 30% cap. Test scenarios like a S$1M Punggol BTO to avoid overcommitment.[1][5]
Common Mistakes to Avoid
Mistake 1: Ignoring the Stress Test Many buyers focus only on current rates and ignore the stress test. If you can't comfortably afford your loan at +4% interest, you're taking on too much risk.[4]
Mistake 2: Forgetting CPF Withdrawal Limits You can't withdraw unlimited CPF for property purchases. The calculator accounts for this, but remember: you need sufficient CPF remaining for retirement.[1][2]
Mistake 3: Overestimating Down Payment Don't assume you can put down 30% if your CPF is depleted. The calculator shows your actual CPF/cash split, preventing this common error.[3]
Mistake 4: Not Comparing Bank Offers After calculating eligibility, always use the multi-bank comparison feature. A 0.3% rate difference means S$100+ monthly savings—S$30,000+ over a 25-year loan.[1][2]
Why Homejourney's Calculator Prioritizes Your Safety
Homejourney's commitment to user safety means the calculator is designed with built-in protections:[1][2][3]
- Singpass Verification: Your financial data is authenticated by the government, not self-reported. This prevents overestimation of income or CPF balance.
- Regulatory Compliance: Every calculation enforces current MAS and HDB rules. You'll never be shown a "maximum loan" that banks would actually reject.
- Stress Testing: The calculator automatically tests your ability to handle rate increases, protecting you from overcommitment.
- Transparent Results:
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