We Find The Money,
You Find The House
The bond affordability calculator on this page can help you determine just how much you can afford.
Trying to figure out realistically how much you can spend on a house can be tricky, especially if you are a first-time buyer. Our online home loan and bond repayment calculators make it easy to do proper financial planning; saving you time to keep hunting for the perfect property.
Note: This calculation is based on general lender affordability credit guide-lines of 30% instalment to gross income and on your disposable income.
What loan amount do I qualify for?
How loan amounts are calculated
Banks calculate the bond amount you qualify for on about a third of your gross monthly income – in other words, what you get in total before you pay taxes, your medical scheme, pensions and so forth.
Your nett monthly income, on the other hand, of your pay check after these payroll deductions have been made. If your gross monthly income is R30 000 per month, the banks will let you spend approximately R10 000 per month on a home loan or bond repayment.
Remember to fill in the repayment term and interest rate on the bond affordability calculator above. This will give you the exact monthly repayment amount that you comfortable qualify for.
Any questions? Contact ooba for assistance.