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

The Homejourney Mortgage Calculator is a free, Singpass-powered tool that instantly calculates your borrowing capacity, monthly repayments, and TDSR/MSR compliance for Singapore property purchases.[1][2]

This cluster guide provides tactical steps to use it effectively, helping you get banks to compete home loan offers from DBS, OCBC, UOC, and more before committing. It connects to our pillar content on Singapore Mortgage Financing Essentials, where we cover the full home loan journey from eligibility to approval.

Why Homejourney Mortgage Calculator Stands Out for Singapore Buyers

Singapore's property market is regulated by strict MAS rules like the Total Debt Servicing Ratio (TDSR) at 55% for private properties and Mortgage Servicing Ratio (MSR) at 30% for HDB flats.[1][2] The Homejourney Mortgage Calculator auto-applies these limits, pulling real-time data via Singpass for accurate results on HDB resale flats (up to 75% LTV) or private condos (up to 80% LTV).

Unlike basic tools, it integrates live SORA rates and lets you compare multiple bank offers from partners like DBS Bank, OCBC Bank, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB Bank, Public Bank, Hong Leong Bank, and Citibank.[2] This positions Homejourney as your trusted partner for safe, transparent financing—prioritizing user security with verified data.

For example, a S$600,000 4-room HDB resale in Tampines at 2.6% SORA over 25 years shows about S$2,700 monthly EMI, but TDSR might cap your total debt based on your S$8,000 income.[1] Homejourney verifies this instantly, helping you avoid overborrowing.

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

Access the tool at Homejourney Mortgage Calculator. Here's the exact process:

Log in with Singpass: Tap Singpass for instant auto-fill of income, CPF balance, age, and existing debts. This ensures TDSR accuracy—no manual errors.[1][2][3]
Enter Property Details: Select type (HDB BTO/resale, EC, condo), price (e.g., S$650,000 Sengkang 4-room resale), downpayment (5-25% cash/CPF), and tenure (up to 30 years HDB, 35 years private).[2]
Choose Rate Type: Pick SORA (3M/6M + margin like 0.40%), fixed, or bank packages. Stress-test with +0.5% for safety.[1]
Calculate and Review: See max loan (e.g., S$750,000), monthly payment, total interest, and TDSR/MSR status. Green check means you're eligible.[2][3]
Compare and Apply: View best mortgage offer side-by-side, then submit one multi-bank application to get offers from all partners.[2]

Pro tip: For Bedok resale buyers, input CPF Ordinary Account balance first—many overlook how it boosts downpayment headroom by 10-15%.[1]

Understanding SORA and Current Rates

SORA (Singapore Overnight Rate Average) is the MAS benchmark for most floating home loans in Singapore, replacing older fixed pegs for transparency.[2] Banks add a margin (e.g., DBS 3M SORA +0.40%).

The chart below shows recent interest rate trends in Singapore:

As seen in the chart, 3M SORA has hovered around 2.8-3.2% in late 2025, impacting monthly payments. Use this in Homejourney's calculator to negotiate mortgage rate effectively—aim for sub-0.50% margins by pitting banks against each other.[2]

Documentation Checklist for Accurate Results

Prepare these for Singpass or manual entry:

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

Insider tip: Download CPF e-statements before visiting showflats in Bukit Merah—peak hours mean long queues at CPF boards.[1] This preps you for multi-bank submissions on Homejourney.

Pro Tips to Get Lower Rates and Maximize Eligibility

Reduce Debts First: Pay off cards to gain 5-10% TDSR headroom, unlocking S$50,000+ extra borrowing.[1]
Multi-Bank Strategy: One Homejourney application sends details to DBS through Citibank—banks compete home loan bids, often dropping margins by 0.10-0.20%.[2] Read How to Get Banks to Compete for Your Home Loan.
Singpass Speed: Auto-fill slashes processing to days. Full steps in Step by Step Singpass Loan Application Guide.
Refinance Check: Pasir Ris owners: Switch to Maybank SORA for S$200/month savings. Test via calculator.[1]
Link to Properties: Filter budgets on Homejourney Property Search post-calculation.

Disclaimer: These are estimates based on MAS/HDB rules (as of 2026). Not financial advice—consult Homejourney Mortgage Brokers or banks for binding quotes. Homejourney verifies data for your safety.[1][2]

What Happens After Calculation?

Eligible? Click 'Apply Now' at Homejourney Bank Rates for multi-bank submission. Track status in-app, receive multiple bank offers side-by-side, and pick the best mortgage offer. Processing takes 3-7 days; approvals follow HDB/MAS timelines.[2][3]

Explore verified projects at Homejourney Projects Directory or post-move services like Aircon Services. See rate comparisons in How to Use Homejourney Bank Rate Comparison: 2026 Guide.

Frequently Asked Questions (FAQ)

How accurate is Homejourney Mortgage Calculator?
Singpass integration uses official CPF/IRAS data with real-time SORA, matching MAS formulas precisely (TDSR 55%, MSR 30%).[1][2]

Can I use it for refinancing?
Yes—input existing loan details to compare new offers and calculate savings.[1]

Which banks can I get offers from?
DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, and more via one application.[2]

Is it free and safe?
Fully free, Singpass-secured, with Homejourney prioritizing data privacy per MAS standards.[3]

What if I'm a foreigner?
Supports EP holders (60% TDSR cap); auto-adjusts LTV to 60%.[2]

Ready to find your best mortgage offer? Start with Homejourney Mortgage Calculator today. For full Singapore mortgage guidance, return to our pillar on Mortgage Financing Essentials. Homejourney builds trust through transparent tools and verified partners—your safe path home.