Home Loan Calculators
Use ooba's free home loan calculators to determine your bond affordability, monthly repayments, transfer costs, and savings potential. Get accurate calculations for your South African home loan today.
* Terms and conditions
Although every effort has been made to ensure the accuracy of our calculators, ooba (Pty) Ltd. and its subsidiaries accept no liability in respect of any errors contained herein. Under no circumstances will ooba (Pty) Ltd and its subsidiaries be liable for any loss or damages whatsoever arising from the use of this calculator.
Factors That Influence Home Loan Calculations
Several key factors affect your home loan calculations and should be considered when using these calculators.
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Credit Profile
Your credit score and history significantly impact the interest rate you'll be offered, which in turn affects affordability and monthly repayments.
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Current Interest Rates
Even small changes in interest rates can substantially impact your monthly repayments and total interest paid over the loan term.
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Loan Term
While longer terms reduce monthly payments, they increase the total interest paid over the life of the loan.
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Deposit Amount
A larger deposit reduces your loan amount, monthly repayments, and potentially secures better interest rates.
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Property Value
The purchase price directly impacts loan amount, transfer costs, and required deposit.
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Additional Costs
Registration costs, transfer duties, and attorney fees add to the upfront expenses when purchasing property.
FAQs About Home Loan Calculations
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How accurate are these home loan calculators?
Our calculators provide estimates based on the information you input and current market conditions. While designed to be as accurate as possible, actual loan offers may vary based on individual circumstances, lender criteria, and detailed credit assessments.
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How much deposit should I save for a home loan?
Most lenders prefer a minimum 10% deposit, though 20% or more can secure better interest rates and reduce overall costs. Our Deposit Savings Calculator can help you determine an appropriate amount based on your circumstances.
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Can I get a home loan without a deposit?
While 100% home loans are available to qualifying applicants, they typically come with higher interest rates. Having a deposit improves your chances of approval and reduces your long-term costs.
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How do interest rate changes affect my repayments?
Even small interest rate changes can significantly impact monthly repayments. Our Bond Repayment Calculator allows you to compare different interest rate scenarios to understand potential changes to your budget.
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What costs should I budget for beyond the purchase price?
Additional costs include transfer duty, attorney fees, bond registration costs, and property transfer costs. Our Transfer Cost Calculator provides a comprehensive breakdown of these expenses.
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Get Pre-Approved for Your Home Loan
After using our calculators to understand your financial position, the next step is to get pre-approved for a home loan. Pre-approval offers several advantages:
- Confirms your actual borrowing capacity
- Strengthens your position when making offers
- Speeds up the final approval process
- Provides peace of mind during property hunting