Okay, let’s calculate your home loan affordability

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Bondspark really fought for us to get this bond, thank you.
– Cheritte Mathebula
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AFFORDABILITY CALCULATOR
How much can I afford?

Income before tax
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Income before tax

Here, you need enter the value of your income before any tax deductions. Include things like:

  • Basic Salary
  • Commission
  • Overtime
  • Gross Subsidy
  • Alimony
  • Rental Income

R
Using minimum of R 10,000.

Tax & other deductions
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Tax & other deductions

Check your payslips for deductions like:

  • Tax
  • UIF
  • Company Pension
  • Company Medical Aid

And anything else that’s deducted from your basic wage.

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Total monthly expenses
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Expenses

Think about how much you spend in a month. Include recurring expenses, for example, groceries, Netflix, medical aid, etc.

Do not include your rent or bond repayment if this will fall away once you get approval on your home loan application.

R

Home loan repayment over
20 years
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15 years
20 years
25 years
30 years
at an interest rate of

10.00%
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Prime
10.25%
12% of our home loans were issued at this interest rate of 10% - 10.25%
You can afford a bond of:
R 310,874
Total repayment: R 720,000
THE DIFFERENCE ONLY 1% MAKES
10.00%
Interest Rate
Total Repayment
R 720,000
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9.00%
Interest Rate
Total Repayment
R 671,282
Save R 203 p/m, that’s R 48,718 in total
Apply now
Ready to complete your application for a home loan right now?
Bondspark is one-of-a-kind and one of the first to facilitate the entire application process online. Amazing right? But this is a serious process. Make sure to follow the instructions.
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Note that this is the actual application and not a  pre-qualification, make sure you are ready.
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