Affordability Calculator
Calculate the Home Loan amount you could qualify for and how much you could expect to pay on your monthly Home Loan repayments
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
Affordability
Find out how much you can afford to spend on your new home, based on your income and expenses.
Total monthly repayment
See what your total monthly repayment amount would be on your new home
Disclaimer
This calculator provides an estimate only. Please consult with financial professionals for accurate advice.
calculator definitions
Gross Income: This is your total income before deductions like tax, medical aid, and pension
Net Income: This is your income after all deductions
Total Expenses: These are all your monthly expenses like car repayments, internet costs, satellite TV costs. Do not include rent or loan amounts if these will be replaced by the new bond payment.
Net Surplus: The mount you have left from your net income, less your total expenses.
Interest Rate: Usually set by default to the prime lending rate. Depending on the bank’s lending criteria you may qualify for a higher or lower rate.
Repayment Term: Most home loans in South Africa are over 20 years but you may choose a shorter or longer term (max. 30 years).
faq’s
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?
Your affordability is calculated at 30% of your gross monthly income and on your net surplus income.
How accurate is the bond calculator?
The 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.
Disclaimer:
Please Note: The interest rate displayed here is the current, national, prime interest rate, as set by the South African Reserve Bank. The interest rate offered by your bank when applying for a loan may vary.
Although every effort has been made to ensure the accuracy of our calculators, Ezi Homeloans. and its subsidiaries accept no liability in respect of any errors contained herein. Under no circumstances will Ezi Homeloans and its subsidiaries be liable for any loss or damages whatsoever arising from the use of this calculator.