Affordability

This calculator is usually used with the prime interest rate and a term of 20 years. Changes in the prime interest rate can affect the qualification criteria. These calculations are dependent on satisfactory credit assessments.
 
Bond Details
Gross monthy income of all applicants
  
Assumed Interest Rate
  
Property Purchase Price
  
Value of loan Required
  
Period of Repayment: YEARS
  
Period of Repayment: MONTHS
  

 
Affordability Assessment Summary
On a gross salary of R0.00 you can afford:
The monthly installment on the loan amount of R0.00 is:
*Repayment to income ratio:
+Loan to value ratio:

 

*  The repayment to income ratio is defined as the total monthly credit repayment granted for the aquisition of housing as percentage of the total net monthly income of a household. As a ROUGH GUIDELINE: For first time homebuyer the ratio shouldn't be higher than 25% and previous or existing property owner then the ratio should not be above 30%.
+  The loan to value ratio is the loan amount expressed as a percent of either the purchase price or the appraised value of the property. As a ROUGH GUIDELINE: as a first time homebuyer the ratio my go up 108% and previous or existing property owners may not borrow more than 100% of the value of the property to be purchased.