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).[1][3]

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]

Key Singapore Regulations Built into the Calculator

The calculator automatically enforces MAS and HDB rules: TDSR caps total debt payments at 55% of gross income, while MSR limits HDB mortgage payments to 30%.[1][2]

It also applies Loan-to-Value (LTV) limits—90% for first-time HDB buyers, down to 75% for private properties on subsequent loans—and age-based tenure caps (loan tenure cannot exceed age 65 or 30 years).[3][4]

For HDB upgraders from areas like Pasir Ris or Bukit Merah, it factors in remaining lease and Enhanced CPF Housing Grant eligibility, ensuring realistic borrowing capacity TDSR assessments.[1]

Disclaimer: This tool provides estimates based on current regulations. Consult Homejourney Mortgage Brokers or official HDB/MAS sources for personalized advice.

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

Access the calculator at Homejourney Bank Rates. Here's the exact process:

Sign in with Singpass: Use Singpass for auto-fill—essential for precise TDSR calculator results per MAS guidelines. Income, CPF OA balance, age, and employment data populate instantly.[1][3]
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).[1][4]
Select Interest Rate Scenario: Choose 3M/6M SORA floating or fixed packages. The tool uses live rates for accurate projections.[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 up to 4% as per MAS.[2][3]
Apply Multi-Bank: Submit one application via Singpass to all partners like DBS, OCBC, UOB. Track offers and compare side-by-side—no branch visits needed.[1][4]

Pro Tip: For resale HDB in Bedok (e.g., S$600K 4-room flat), input exact psf from HDB resale portal to refine estimates. This prevents overborrowing in high-demand areas.[2]

Understanding SORA Rates in the Calculator

SORA (Singapore Overnight Rate Average) is the benchmark for most floating-rate home loans in Singapore, replacing older SOR/FIXED models. Homejourney's calculator pulls live 3M and 6M SORA rates for precise forecasts.[1][2]

The chart below shows recent interest rate trends in Singapore:

As seen in the chart, SORA has fluctuated around 2.5-3% recently, impacting monthly payments. Stress-test at +3% to ensure affordability if rates rise.[4]

Real Examples: Borrowing Capacity in Action

Example 1: First-Time HDB Buyer (Age 30, S$8,000/month income, S$50K CPF OA). For S$600K Bedok resale: Max loan S$540K (90% LTV), EMI ~S$2,800 (MSR-compliant), cash down S$12K + CPF S$48K.[2][3]

Example 2: Condo Investor (Age 40, S$12,000 income, existing car loan S$500/month). S$1.5M Punggol EC: Max loan S$1.125M (75% LTV), EMI ~S$6,200 (within 55% TDSR), total interest ~S$550K over 25 years.[1]

Example 3: Refinancing Existing Pasir Ris HDB at 3.5% to new 2.7% SORA: Saves ~S$250/month. Input current loan details to simulate.[1]

These reflect 2026 market conditions; always verify with bank rates comparison.[4]

Pro Tips to Maximize Your Borrowing Power

Pay down existing debts (credit cards, car loans) before calculating to improve TDSR ratio.[3]
Time applications when SORA dips—track via Homejourney dashboard.[1]
For HDB, maximize CPF OA usage but retain S$5K buffer for emergencies.[2]
Use multi-bank apply: One submission reaches DBS, OCBC, UOB, HSBC, and more—compare offers easily.[4]
Avoid pitfalls: Don't ignore stress tests; a 4% rate hike can add S$500+ to EMI.[3]

Link to related reads: TDSR & MSR Calculator: Check Singapore Borrowing Limits | Homejourney ">TDSR & MSR Calculator Guide | How to Use Homejourney Bank Rate Comparison: Step-by-Step Guide ">Bank Rate Comparison.[1]

What Happens After Calculation?

Once calculated, skip branch queues—apply via Singpass for multi-bank submission. Receive offers from partners within 1-3 days, track status on Homejourney.[1][4]

Post-approval, search budget-matched properties on Homejourney Property Search. For maintenance, check aircon services.[2]

Frequently Asked Questions (FAQ)

How accurate is the Homejourney Mortgage Calculator for TDSR?
Singpass-verified data ensures 95%+ accuracy per MAS rules. It's not financial advice—confirm with banks.[1][3]

Can I use it for refinancing?
Yes, input existing loan details to compare new rates and calculate savings, e.g., S$200+/month.[1]

What if I have existing debts?
The debt ratio calculator auto-includes them in TDSR (55% cap).[2]

Is Singpass mandatory?
Recommended for precision; manual entry available but less accurate.[4]

How does it handle HDB MSR limits?
Automatically caps at 30% of income for HDB purchases.[3]

Ready to calculate? Visit Homejourney Mortgage Calculator now. For full Singapore home loan strategies, read our pillar guide on Singapore Home Loans Complete Guide. Homejourney: Safe, transparent property journeys.