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

Using the Homejourney Mortgage Calculator is simple: log in with Singpass, enter property details like price and downpayment, select rates from DBS, OCBC, or UOB, and instantly see your TDSR, MSR, and monthly payments. This free tool on our bank rates page ensures you comply with MAS rules like 55% TDSR while prioritizing your financial safety and trust.

This cluster guide provides tactical steps for Singapore buyers, connecting to our pillar on Singapore Mortgage Financing. Whether you're a first-time HDB buyer in Tampines or refinancing a Pasir Ris condo, Homejourney verifies data for confident decisions. Discover Singpass advantages over traditional applications for faster mortgage approval.

Why Homejourney Mortgage Calculator Stands Out for Singapore Buyers

Singapore's strict lending rules from MAS and HDB require precise calculations. The Homejourney Mortgage Calculator computes borrowing capacity under TDSR (55% of income) and MSR (30% for HDB), using real-time data from partner banks like DBS, OCBC, UOB, HSBC, Standard Chartered, and Maybank.[1]

Unlike manual spreadsheets, it integrates Singpass for instant CPF and income pulls, auto-applying LTV limits (75% HDB, 80% private). For example, a S$600,000 HDB flat at 2.6% over 25 years shows ~S$2,700 monthly EMI, with principal-interest breakdowns.[1][2]

Homejourney prioritizes user safety by verifying inputs and flagging over-limits in red, helping you avoid rejections. It's perfect for testing scenarios like Sengkang BTOs with grants boosting LTV to 90%.[1]

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

Follow these actionable steps on Homejourney's mortgage calculator for online loan application ease.

1. Access the Tool: Visit Homejourney bank rates and click the calculator tab. Available on web and app.[4]
2. Log in with Singpass: Use Singpass for digital vs paper application speed—auto-fills income, CPF, debts. Singpass vs traditional loan: Singpass cuts errors and speeds approval by days.[1]
3. Enter Property Details: Input price (e.g., S$520,000 Tampines resale), downpayment (5-25%), tenure (up to 30 years for age <55).
4. Select Rate Type: Choose SORA (3M SORA ~2.2% +0.40%), fixed, or bank packages from DBS to Citibank.[1][3]
5. Review Results: See EMI, total interest, TDSR/MSR status. Green = eligible; adjust for pass.
6. Compare & Apply: View side-by-side rates; submit one multi-bank application to all partners for faster mortgage approval.

Pro tip: Before Bukit Merah showflats, test with your CPF Ordinary Account balance from CPFOA.gov.sg—insider knowledge saves time during peak weekends.[1]

Understanding Interest Rates and SORA Trends

Most loans peg to SORA, published daily by MAS. Banks add spreads like 3M SORA +0.40%, with 2025 averages ~2.5-2.75%.[3]

The chart below shows recent interest rate trends in Singapore:

As seen, SORA has stabilized around 2.2%, favoring fixed rates for large loans >S$500k at 1.35-1.50%.[3] Use Homejourney's real-time tracking for timing.

Documentation Checklist for Accurate Inputs

• Latest 3 months' payslips or IRAS tax assessment.
• CPF statements via Singpass (CPFOA.gov.sg).
• Existing loan statements (credit cards <S$30k exempt from TDSR).
• HDB Letter of Offer for MSR.
• Employment Pass for foreigners (60% TDSR cap).

Prepare via Singpass for seamless digital application. Insider tip: Clear small debts first to gain 5-10% TDSR headroom before Pasir Ris resale bids.[1]

Pro Tips for Faster Mortgage Approval with Homejourney

• Singpass Advantages: Auto-fill skips manual entry; one app to DBS, OCBC, UOB, HSBC—see Singpass Loan Guide.
• Multi-Bank Power: Compare offers side-by-side; read Multi-Bank Benefits.
• Refinancing Hack: Pasir Ris owners save S$200/month on Maybank SORA—test via calculator.[1]
• Bank Rate Comparison: Pair with Bank Rate Guide for pro tips.
• Link results to property search for budget-matched homes.

What to expect: Banks assess in 1-3 days via Homejourney; track status on-platform. Approval timelines: 3-7 days for HDB, faster with Singpass.[1]

Singpass vs Traditional Loan: Why Digital Wins

Singpass offers faster mortgage approval with verified data vs paper apps' delays. Traditional requires branch visits; Homejourney's online loan application sends to 10+ banks instantly. For safety, we verify every step.[1]

Disclaimer: Estimates only; consult banks for binding quotes. Homejourney isn't financial advice but builds trust through transparency. Rates per MAS/HDB 2025 rules.

Frequently Asked Questions (FAQ)

How accurate is Homejourney Mortgage Calculator for TDSR?
It uses Singpass for precise CPF/income, matching MAS 55% TDSR exactly.[1]

Can investors check borrowing capacity TDSR?
Yes, input multiple properties for rental-adjusted limits.[1]

Does it show live 2025 SORA rates?
Yes, updated from MAS; ~2.2% 3M SORA.[1][3]

How to apply after using the calculator?
Click 'Apply Now' for multi-bank submission via Singpass—safe and fast.[1]

What's next after approval?
Compare offers, select best, proceed to projects directory for options.

Ready for how to use Homejourney Mortgage Calculator? Start at bank-rates today. For full Singapore mortgage guidance, return to our pillar content. Homejourney ensures safe, trusted property journeys.

References

1. Singapore Property Market Analysis 1 (2025)
2. Singapore Property Market Analysis 2 (2025)
3. Singapore Property Market Analysis 4 (2025)
4. Singapore Property Market Analysis 3 (2025)