General Home Loan Information

The normal term of a home loan is 20 years, you can opt for a 25 to 30 year home loan, but it is not advisable as you will pay a lot more in interest charges. The only real advantage is that, it does reduce your monthly installments considerably, making it easier for you to get into the property market.

As a single person, the bank will grant you a home loan at a monthly installment of 25% of your gross income, and 30% of your joint income.

Example : Single - Gross Income - R 10000.00 - your monthly installment must not exceed R 2500.00 month.

Joint ( you and your spouse ) Gross Income - R 15000.00 - your monthly installment shouldn't exceed R 5000.00 a month.

Almost all the major banks in South Africa offer calculators where you can calculate your mortgage payment and some even offer calculators to see how much you can afford. We suggest you use them to work out what you can afford, before submitting your online application.

ABSA Home Loan Calculators

• Estimated Building Replacement Cost Calculator
• How Much Have I Paid Off?
• Increasing your Installments
• Making a Lump Sum Deposit
• Take Up a New Home Loan with Absa
• Transfering my Home Loan to Absa
• Maximum Home Loan Calculator

Nedbank Home Loan Calculator

• Bond Repayment Calculator

First National Bank Calculators

• Bond Cost
• Bond Affordability
• Maximum Bond
• Monthly Repayment

Standard Bank Calculators

• Home Loan Calculator

Apply for your Home Loan Online 

Click Here to Choose from 5 different Mortgage Originators

More Home Loan Information

• Affiliate Program
• Costs Involved
• Home Loan Calculators
• Home Loan Process
• F.A.Q's
• Types of Home Loans
• Transfer Costs
• What is a Home Loan Originator

Articles provided by Home Loans South Africa