AFFORDABILITY CALCULATOR

Work out the home loan value you could qualify for based on your current gross income. The bank requires a clear credit record and generally allows you a loan on which the repayments are no more than 30% of your gross monthly income.

Please ensure there are no spaces, commas, percentages or full stops in the values you enter.

Find out more about bond affordability

What is a bond affordability calculator?

When planning on buying a home, it is essential to know exactly how much you can afford before you start your property search. A bond affordability calculator uses your monthly income to determine the maximum home loan amount that you could get from a bank.

How do banks calculate my bond affordability?

Banks usually calculate the home loan amount you qualify for by looking at:

  • Gross Income: This is your total income before deductions like tax, medical aid and pension.
  • Net Income: The is your income after all deductions
  • Total Expenses: These are all your monthly expenses like car repayments, internet costs, satellite TV costs
  • Interest Rate: This is usually set by default to the prime lending rate. Depending on the bank’s lending criteria you may qualify for a higher of lower rate.
  • Number of years: Most home loans in South Africa are over 20 years but you may choose a longer or shorter term.

Your affordability is ultimately based on around 30% of your gross monthly income and on your disposable income.

Remember that a bond affordability calculator is a useful tool to determine the maximum loan value and monthly repayment that you qualify for but is not a guarantee that you will be granted a home loan. You will need to apply for a home loan and it is at the discretion of the bank to grant it or not.

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