Home Loan (Bond) Calculator

Work out your monthly bond repayment and the total interest over the life of your home loan. Try different deposits and rates to see how much a few percentage points change the cost of a home.

How this calculator works

• Loan amount = purchase price − deposit.
• Home loans are usually priced around the prime lending rate and repaid over 20 years (240 months), with up to 30 years available.
• Banks usually want your bond instalment to be no more than about 30% of your gross monthly income.

Worked example

A R1,200,000 home with a 10% deposit (R1,080,000 bond) over 20 years at 11.5% costs about R11,520 a month.

FAQs

What income do I need?

As a rule of thumb, multiply the instalment by 3.3 to get the gross monthly income banks usually expect. The calculator shows this figure.

Are transfer and bond registration costs included?

No. Transfer duty, conveyancing and bond registration fees are paid separately, usually in cash. Ask a conveyancer for a quote.