Calculate your bond repayments when buying property – property24.com
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Mortgage Bond Calculator
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Affordability Calculator
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Additional Payment Calculator
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Bond and Transfer Calculator
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Monthly Repayment:
Total Once-off Costs:
Deposit
Bond registration costs (incl. VAT)
Property transfer costs (incl. VAT)
- Costs are effective as of May 2017
Minimum gross monthly income required:
Qualified Loan Amount:
Monthly repayment:
R 3
You would save:
You would reduce your loan term to: years months
 
Breakdown including additional monthly payment
Monthly repayment:
Total interest:
Total payment:
 
Breakdown excluding additional monthly payment
Monthly repayment:
Total interest:
Total payment:
Total Bond and Transfer Costs:
Costs are effective as of May 2017
Bond registration cost breakdown:
Bond registration cost (incl. VAT)
Bank initiation fee (incl. VAT)*
Deeds office levy***
Postage, petties and other application fees (incl. VAT)
Property transfer cost breakdown:
Property transfer costs (incl. VAT)*
Deeds office levy***
Transfer duty**
Postage, petties and other application fees (incl. VAT)
* This is a once-off fee charged by the banks to open a loan account. This fee applies to natural persons.
** This is a government tax on the transfer of property title.
*** Non VATable.

How are home loans calculated?

When it comes to applying for a home loan, South African banks will, typically, allow you to qualify for a home loan repayment of up to 30% of your joint, gross, monthly income i.e. your total joint income before tax and expenses have been deducted. This rule ensures that banks adhere to responsible credit lending as mandated by the National Credit Act of South Africa.

The next item that banks will look at is your nett monthly income minus your total monthly expenses. The banks want to see that your disposable income will cover the monthly repayments of the home loan.

Make use of our affordability calculator above to find out what your estimated home loan amount will be. We have set the default interest rate to the current prime lending rate. Based on your credit profile, South African banks may choose to give you an interest rate either higher or lower than the prime lending rate. A small change in your interest rate can have a significant impact on your final home loan amount. It is very important to keep this in mind when estimating the amount for which you qualify.

*Disclaimer: Please note that by default this calculator uses the prime interest rate for bond payment calculations. This is purely for convenience and not an indication of the interest rate that might be offered to you by a bank. This calculator is intended to provide estimates based on the indicated amounts, rates and fees. Whilst we make every effort to ensure the accuracy of these calculations, we cannot be held liable for inaccuracies. Property24 does not accept liability for any damages arising from the use of this calculator.
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