The Homejourney Mortgage Calculator lets Singapore home buyers instantly estimate affordability, monthly payments, and loan eligibility using real-time SORA rates and Singpass for secure, fast results[1].
This cluster guide details step-by-step usage, connecting to our pillar on Singapore Home Loans & Mortgage Guide for full financing strategies. Homejourney prioritizes your safety with verified data and multi-bank applications, helping you avoid scams and overborrowing[1][2].
Why Use Homejourney Mortgage Calculator?
Homejourney's tool stands out by integrating TDSR and MSR calculations under MAS rules, showing maximum loans capped at 55% debt-to-income for private properties and 30% for HDB[1][2]. It uses live rates from partners like DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank, unlike manual spreadsheets[1].
For a $650,000 4-room resale HDB in Punggol near MRT, it reveals if your $9,000 joint income fits after $700 existing debts, factoring LTV limits (e.g., 75% for first HDB resale)[2]. This transparency builds trust, aligning with Homejourney's commitment to verified, user-safe tools[1].
Step-by-Step: How to Use Homejourney Mortgage Calculator
Access it at Homejourney Bank Rates or the app for Singpass ease[1][4].
- Navigate to Bank Rates Page: Visit https://www.homejourney.sg/bank-rates. Scroll to the calculator – it includes TDSR, MSR, and debt tools[1][2].
- Select Calculation Type: Choose maximum loan, monthly instalment, affordability, or refinancing. First-timers start with eligibility[1].
- Enter Profile: Input age, gross income, existing debts (e.g., car loans). It auto-applies apply home loan Singpass via MyInfo for precise data[1].
- Add Property Details: Select HDB resale, condo, etc.; enter price (e.g., $600,000 Bedok flat), downpayment (cash + CPF), tenure (up to 30/35 years)[1].
- Pick Rate Type: Use SORA-based floating or fixed; tool pulls real-time rates[1].
- Calculate & Review: See instalment, total interest, principal split. Stress-test with +1% rates[1][3].
Pro Tip: For HDB upgraders, check MSR first – it flags if payments exceed 30% income, preventing rejections[2].
Understanding SORA and Interest Rates
SORA (Singapore Overnight Rate Average) is MAS's benchmark for most floating loans, with 3M/6M compounds common. Homejourney tracks live rates for accurate estimates[1].
The chart below shows recent interest rate trends in Singapore:
As seen, rates fluctuate – use this to time fixed-rate locks via Homejourney's comparisons[1].
Apply Home Loan Singpass: Seamless Integration
After calculating, launch Singpass mortgage application or MyInfo home loan. One click auto-fills income, CPF, employment via Singpass loan apply – no retyping[1].
Submit once to all partners (DBS to Citibank); track offers side-by-side on Bank Rates. This digital loan application skips bank queues, with Homejourney verifying everything for safety[1][2]. See our guide: Homejourney's Step-by-Step Singpass Loan Application Guide 2026 .
Documentation Checklist for Success
- NRIC (Singpass pulls this)
- Latest payslips/NOC from employer
- CPF statements (auto via MyInfo)
- Existing loan statements
- Property Option Fee receipt (post-calc)
Prepare digitally; Homejourney's digital loan application uploads securely. Insider tip: Upload 3 months' statements early to speed approvals by 2-3 days[1].
Pro Tips to Maximize Approval Odds
- Lower debts pre-application (pay off cards).
- Stress-test at 4-5% rates for safety.
- Use joint incomes for couples, but note TDSR applies combined[2].
- Refinance? Compare via calculator; link to Best Bank Refinancing Rates Comparison 2026 | Homejourney .
- Time SORA dips using the chart.
Common pitfall: Ignoring MSR for HDB – Homejourney flags it instantly[2]. For multi-bank perks, read Homejourney: Benefits of Multi-Bank Application in One Click .
What Happens Next: Timelines & Expectations
Post-calculation and Singpass loan apply, banks assess in 1-3 days (faster via Homejourney). Expect offers within a week; choose best on platform[1].
Legal completion: 8-14 weeks for resale HDB. Track via app; connect with Homejourney Mortgage Brokers for guidance. Search budgeted properties on Property Search[1].
FAQ
How accurate is Homejourney Mortgage Calculator?
It uses official MAS TDSR/MSR and real-time SORA, but consult banks for final quotes. Not financial advice[1][2].
Can I use it for refinancing?
Yes – input current loan details; compare new rates. See How to Calculate If Refinancing is Worth It with Homejourney [1].
Is Singpass mandatory for application?
No for calculator, yes for digital loan application – it auto-fills securely[1].
What if I'm self-employed?
Enter average income; upload IR8S/NOC. Homejourney guides you[1].
Free to use?
Yes, fully – no fees, just trusted comparisons[1].
Disclaimer: Calculations are estimates. Seek professional advice. Rates as of 2026; subject to change per MAS/HDB[1][2].
Ready? Calculate now at Homejourney Mortgage Calculator and apply via Singpass. For full strategies, return to our Singapore Home Loans Pillar Guide.
