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

The Homejourney Mortgage Calculator enables Singapore property buyers to instantly calculate borrowing capacity, monthly instalments, and TDSR/MSR eligibility using real-time SORA rates and Singpass-verified data—all in under 5 minutes.[1][2][3]

This cluster article provides tactical steps for using the calculator, linking back to our pillar content on Singapore Home Loans Complete Guide. Homejourney prioritizes your safety with transparent tools that ensure regulatory compliance before you search properties via Property Search or explore Projects Directory .[2][3]

Why Use Homejourney Mortgage Calculator?

Singapore's property market requires precise planning due to MAS rules like TDSR (Total Debt Servicing Ratio at 55%) and MSR (Mortgage Servicing Ratio at 30% for HDB). The Homejourney tool acts as a TDSR calculator, MSR calculator, and debt ratio calculator, applying eligibility limits and borrowing capacity TDSR automatically.[1][2]

Unlike manual estimates, it integrates live data from partner banks like DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank, CIMB, RHB, Public Bank, Hong Leong Bank, and Citibank. 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 CPF Ordinary Account balance and existing loans.[2][3]

Homejourney's Singpass integration auto-fills income, employment, and CPF details securely, reducing errors and speeding up your journey to confident decisions.[1][4]

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

Access the calculator at Homejourney Bank Rates or via the Singpass-verified app. Follow these actionable steps for accurate results.[1][3]

Navigate to the Tool: Visit https://www.homejourney.sg/bank-rates#calculator. This page combines the calculator with rate comparisons and multi-bank applications.[1][2]
Select Calculation Type: Choose from "How much can I borrow?" (maximum loan), affordability (property price from income), monthly instalment, or refinancing. First-timers should start with affordability to align budgets with Property Search .[3][4]
Input Personal Details: Enter age, gross monthly income (e.g., S$6,000), existing debts, and CPF OA balance. Use Singpass for auto-fill—essential for precise TDSR calculator results per MAS guidelines.[1][2]
Add Property Details: Specify HDB/condo/EC, purchase price (e.g., S$1.2M Punggol EC), downpayment (cash + CPF), and loan tenure (up to 30 years for age <35). The tool applies LTV limits: 75% for first HDB, 55% for private over S$1M.[2][3]
Choose Interest Rate Scenario: Select 3M/6M SORA floating or fixed packages. Homejourney pulls live rates for realism in Singapore's floating-rate market.[1][4]
Calculate and Review: Get instant breakdown: max loan, EMI (e.g., S$800K at 2.7% over 25 years = ~S$3,800/month), total interest (~S$340K), CPF/cash split, and stress tests for rate hikes.[2][3]
Apply Multi-Bank: Submit one application via Singpass to all partners. Track offers and compare side-by-side—no need to visit branches.[1][4]

Understanding Key Metrics: TDSR, MSR, and Stress Tests

TDSR caps total debt (including mortgages, car loans) at 55% of gross income under stress-tested rates (3.5% benchmark). MSR limits HDB mortgages to 30% for public housing buyers. Homejourney's calculator enforces these eligibility limits automatically.[2]

For a S$10,000/month household income with S$1,000 existing debt, max housing debt is ~S$4,250/month under TDSR. The tool shows this clearly, helping avoid rejections.[1][2]

Singapore's loans are mostly SORA-pegged. SORA (Singapore Overnight Rate Average) is the MAS-published benchmark replacing SOR. Most use 3M/6M compounds.

The chart below shows recent interest rate trends in Singapore:

As seen in the chart, SORA has hovered around 2.5-3% in recent months, impacting EMIs. Use this to time your application.[1][4]

Pro Tips for Accurate Results and Maximizing Borrowing Capacity

Update CPF details via Singpass for precision—many overlook Ordinary Account usage limits (e.g., up to 20 years remaining lease).[2]
Test scenarios: Increase income by 10% or reduce debts to see borrowing capacity TDSR gains. Pay off credit card balances first.[3]
For HDB upgraders in areas like Pasir Ris, factor Eligibility (HLE) Letter requirements alongside MSR.[1]
Refinancers: Compare current rate vs. new offers. See How to Calculate If Refinancing is Worth It | Homejourney for details.[4]
Avoid pitfalls: Don't forget legal fees or stamp duties in affordability checks.[2]

After calculating, search matching properties on Property Search or maintain your investment with Aircon Services .[3]

What Happens Next: From Calculation to Approval

Results guide your budget. Proceed to multi-bank application—one form sends details to DBS, OCBC, UOB, and more. Expect offers within 1-3 days, with full approval in 1-2 weeks.[1][4]

Homejourney tracks status securely. Connect with our mortgage brokers for personalized advice. This ensures a safe, transparent process aligned with our trust-first approach.[2]

Disclaimer: Calculations are estimates. Consult professionals for binding advice. Rates subject to bank approval and MAS rules.[1]

Frequently Asked Questions (FAQ)

How accurate is the Homejourney Mortgage Calculator?
Singpass-verified data and live SORA ensure 95%+ accuracy for eligibility. Banks make final calls.[1][2]

What's the difference between TDSR and MSR?
TDSR (55%) applies to all properties, including other debts. MSR (30%) is HDB-only.[2]

Can I use it for refinancing?
Yes—input current loan details to compare savings. Check Best Bank Refinancing Rates Comparison 2026 | Homejourney .[4]

Does it work for investors?
Absolutely, factors ABSD and LTV for multiple properties.[3]

How do I apply after calculating?
One-click multi-bank submission via https://www.homejourney.sg/bank-rates. See Multi-Bank Application in One Click: Homejourney's Guide to Smart Loan Compariso... .[1]

Master your finances with Homejourney Mortgage Calculator today. Visit https://www.homejourney.sg/bank-rates#calculator now, then explore our pillar Singapore Home Loans Complete Guide for full coverage. Your safe property journey starts here.