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This is the home loan you’re likely to qualify for

Home loan affordability is an important factor to consider when purchasing a home. We offer a number of ways to determine what you'll pay.

Home Loan Affordability

Article summary

  • We offer a range of calculators that will help you determine what you’ll pay on your bond.
  • We also offer prequalification, a process that will assess your financial situation and determine what home loan you will qualify for.
  • Get the best deal on your home loan by applying to multiple banks, which we can do on your behalf.

Applying for a home loan is one of the first major steps toward purchasing a home. Whether or not you’ll qualify for a home loan, and what amount you’ll qualify for, are key questions you’ll want answered.

Thankfully, you can determine that BEFORE actually applying for a home loan, enabling you to better prepare and budget.

One of the ways you can do that is to use our Bond Calculator. Simply enter information about your income, and the calculator will determine what amount you’ll qualify for, and what it will cost you in monthly repayments.

The critical factors in determining your home loan affordability

The two key factors are:

  1. Your credit record.
  2. Your deposit

1. Credit record

This is the main factor banks take into account when determining your home loan amount.

The higher your credit record, the better deal you’ll obtain on your home loan.

Here’s a breakdown of credit scores:

  • 781 to 850. Excellent.
  • 661 to 780. Good.
  • 610 to 660. Fair.
  • 500 to 610. Poor.
  • 300 to 499. Very poor.

2. Your deposit

  • The deposit is what you pay upfront for the home loan. It usually amounts to 10% of the purchase price.
  • The higher your deposit, the less you’ll have to pay on the home loan.

Calculate what you’ll pay

We offer a range of calculators that provide invaluable assistance in determining what you’ll pay on your home loan.

  • The Bond Calculator we’ve already mentioned. It uses your income information to calculate what you’ll pay on your home loan.
  • The Repayment Calculator determines how much your monthly repayments will be, based on your home loan term (usually 20 years), interest rate and deposit.
  • For example, on a bond of R1 000 000, with a 10% deposit (R100 000) and a home loan term of 20 years, at the current interest rate of 11.75, you’ll pay R9 753 per month.
  • The Extra Payments Calculator determines how an additional payment, over and above your monthly repayment amount, will affect the home loan.

Get the best deal on your bond

If you want to improve home loan affordability, the best way is to apply with ooba Home Loans. We submit your application to multiple banks, allowing you to compare the deals each bank offers and choose the one with the lowest interest rates.

The best way to determine your home loan amount: Get prequalified

If you want something more thorough than the above calculators, you can get prequalified.

The prequalified process assesses your financial situation, including your credit record, and determines what home loan you will qualify for.

This is a sure way to know what you’ll pay on your home loan, allowing you to budget accordingly.

You can get prequalified by contacting an expert at ooba Home Loans or by using our free, online prequalification tool, the Bond Indicator.

Get prequalified for a home loan today

DIY with our online prequalification tool, or speak to an expert.


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Star Rating

Average rating of 4.86 from over 4 550 reviews

Simply The Best

Ooba home loans services are simply the best. My Consultant Bianca Dancer was so hands on and helpful from the get go. She guided me through the entire process and put me at ease being a first time buyer. I highly recommend their services.

Tia J

Excellent Service

Jay Govender and Maleshini Reddy from OOBA provided outstanding assistance and guidance in securing our home loan. Response times were excellent and they were professional and friendly.

Brice G

Bond Application

Estelle Vorster was really helpful in securing the best deal for my home loan, she not only negotiated a lower interest rate she went as far as securing 50% discount on the transfer costs.

Butana M