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

The Homejourney Mortgage Calculator helps Singapore property buyers estimate loan eligibility, monthly instalments, and total costs using live SORA rates, all in a secure Singpass-verified platform.

Whether you're a first-time HDB buyer in Punggol or refinancing a condo in Bedok, this tool integrates TDSR and MSR checks to ensure safe borrowing under MAS rules. It connects directly to multi-bank applications for DBS, OCBC, UOB, and more, saving you time and reducing risks.

Why Use Homejourney Mortgage Calculator for Singapore Home Loans

Homejourney prioritizes user safety with verified rates and Singpass integration, eliminating the need to visit multiple bank sites. In Singapore's market, where 3M and 6M SORA rates fluctuate, our calculator uses real-time data for accurate estimates.

For example, a couple earning S$9,000 monthly with S$700 debts can quickly see if a S$650,000 4-room resale HDB fits their budget under 55% TDSR and 30% MSR limits[1][2]. This transparency builds trust, aligning with Homejourney's commitment to secure property journeys.

Link to our pillar guide on Singapore Home Loan Guide for broader financing strategies.

Understanding Key Mortgage Terms Before You Start

TDSR (Total Debt Servicing Ratio) caps total debts at 55% of gross income for private properties, per MAS guidelines. MSR (Monthly Servicing Ratio) limits HDB/EC repayments to 30% of income[2].

SORA (Singapore Overnight Rate Average) is the benchmark for most floating loans. Homejourney's SORA rate tracker provides live SORA rates for 3M SORA and 6M SORA tracking, helping you monitor interest rates effectively[1].

The chart below shows recent interest rate trends in Singapore:

As seen in the chart, rates have stabilized around 3% for 3M SORA in late 2025, impacting monthly payments on a S$500,000 loan[1]. Use our rate alert feature to get notified of changes[1].

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

Access the calculator at Homejourney Bank Rates. It's free, secure, and updated daily.

Navigate to Bank Rates Page: Visit https://www.homejourney.sg/bank-rates. Scroll to the calculator section for instant TDSR/MSR pre-checks[1][2].
Select Calculation Type: Choose maximum loan, monthly instalment, affordability, or refinancing. First-timers start with "maximum loan"[1].
Enter Personal Details: Input age, gross monthly income, existing debts (e.g., car loan). The tool auto-applies TDSR 55% and MSR 30% caps[2].

Pro tip: Include all debts like credit cards to avoid bank rejections later.
Add Property Info: Select type (HDB resale, condo), price (e.g., S$600,000 Bedok 4-room), downpayment (cash + CPF), and tenure (up to 30/35 years)[1].
Pick Interest Rate: Use live 3M/6M SORA or fixed rates from partners like DBS, OCBC, UOB, HSBC. Stress-test with +1% buffer[1].
Calculate and Review: See monthly EMI, total interest, principal breakdown. For a S$500,000 loan at 3.2% over 25 years, expect ~S$2,500/month[3].
Apply Multi-Bank: Hit "Apply Now" for Singpass-powered submission to 10+ banks. Track offers in one dashboard[1].

Avoid pitfalls: Don't overestimate income or ignore age limits (loan tenure = 65 - age)[1].

Documentation Checklist for Accurate Calculations

Income Proof: Latest payslips, tax assessment (IR8A), or Singpass auto-fill.
Debts: Loan statements from existing credit facilities.
CPF Balance: OA statement for downpayment estimates (via Singpass).
Property Details: Option fee receipt or target price from Property Search .
ID: NRIC for age verification.

Prepare via Singpass for 30-second auto-fill, speeding approvals[1]. Homejourney verifies all data securely.

Pro Tips to Maximize Your Homejourney Mortgage Calculator Results

Time with SORA: Use our SORA Rate Tracker for 3M SORA 6M SORA tracking and rate alerts[1]. Lock fixed if rates rise.
Stress-Test: Add 2% to rates; shorten tenure to cut interest (e.g., 25 vs 30 years saves S$50,000+)[3].
Combine Incomes: Couples boost eligibility – check MSR impact[2].
Refinance Smartly: Input current loan details to compare savings[1].
Insider Tip: For HDB in mature estates like Bedok (5-min walk to MRT), factor higher prices but better LTV (90%)[1].

Read How to Use Homejourney Bank Rate Comparison next.

What Happens After Using the Calculator

Your results guide property searches on Homejourney Property Search. Submit multi-bank app: Offers from DBS, HSBC, etc., arrive in 1-3 days. Compare side-by-side, select best.

Banks assess full docs (1-2 weeks). Approval? Proceed to valuation. Homejourney tracks everything securely[1][2]. Disclaimer: Calculations are estimates; consult professionals for advice.

Frequently Asked Questions (FAQ)

How accurate is the Homejourney Mortgage Calculator?
It uses live SORA rates and MAS rules for 95%+ accuracy, but final bank offers vary slightly[1].

Can I track live SORA rates on Homejourney?
Yes, our SORA rate tracker shows live SORA rates with alerts for monitor interest rates[1].

What's the difference between 3M SORA and 6M SORA?
3M updates quarterly (more volatile); 6M semi-annually (stable). Choose based on risk tolerance[1].

Do I need Singpass to use it?
For calculations, no. For applications, yes – auto-fills data securely[4].

How to how to use Homejourney Mortgage Calculator for refinancing?
Input current loan details; compare new offers from partners like UOB, Maybank[1].

Ready to calculate? Visit Homejourney Mortgage Calculator now. For full home loan strategies, check our pillar on Singapore mortgages. Homejourney: Your safe path home.