calculator
Bond Affordability Calculator
Estimates the home loan you might qualify for, the monthly repayment and the once-off costs of buying.
A bond of about R1 286 626
Repayment of about R13 500 a month. With your other debt that is 37% of gross income. Remember transfer duty, bond and transfer costs.
Want help interpreting this? Talk to a person
What you will need
- Gross monthly income (joint if applying together) (R)
- Other monthly debt repayments (R)
- Deposit saved (R)
- Interest rate per year (%): Use a bank quote; many bonds are linked to the prime lending rate.
- Loan term (years)
- Maximum repayment as % of gross income (%): Banks commonly cap the bond repayment near 30% of gross income. This is a guide; each bank decides.
- Price of a home you are looking at (optional) (R)
How it works
r = annual_rate/100/12; n = term_years*12. max_repayment = gross_monthly * repayment_cap_pct/100. Also check total debt: if (max_repayment + monthly_debt) / gross_monthly > 0.4 (guide), reduce max_repayment so total debt stays at 40% and flag it. max_loan = max_repayment * (1 - (1+r)^(-n)) / r. max_price = max_loan + deposit. If purchase_price given: loan = purchase_price - deposit; repayment = loan * r / (1 - (1+r)^(-n)); repayment_pct = repayment/gross_monthly*100. Once-off costs: transfer_duty = from the SARS transfer duty table in config (seed: 0% up to the threshold, then sliding scale; confirm current threshold on sars.gov.za); transfer_attorney_fees and bond_registration_fees = from a configurable fee guide (conveyancing tariffs change yearly), shown as estimates. Monthly ownership costs: prompt rates and taxes, levies, building insurance, maintenance (guide 1% of value per year / 12). Also show total_interest = repayment*n - loan and the effect of paying R500 extra per month on term and interest.
What you get
- Estimated maximum monthly repayment
- Estimated maximum bond
- Estimated price range with your deposit
- Repayment on the home you entered
- Estimated once-off costs (transfer duty, attorney and registration fees)
- Total interest over the term
What it means
- The repayment is above what banks commonly allow; a bigger deposit or lower price may be needed.
- A 100% bond is sometimes possible, but a deposit usually means a better rate and lower repayments.
- This is an estimate. Only a bank can tell you what you qualify for.
Next step: Want help interpreting this? Take the Bond Readiness Score or speak to a money coach.
Runs on the device. Nothing is saved unless the member chooses.