CREDIT PROFILE

Knowing your credit profile is the first step towards home ownership. A good credit score improves your chances of your home loan application being approved

We are here to help. Ask us and we will do a full credit report for you

LOAN AMOUNT QUALIFICATION

A quick and easy calculation can show you the amount that you will be able to afford. The general rule is that the bank will allow a maximum of 30% loan repayment of your joint monthly income. This amount will be your maximum allowed monthly loan repayment

Example:

  • Total joint monthly income
  • X 30% (maximum allowed by bank towards loan repayment)
  • = Maximum allowed loan repayment

Total joint monthly income = R20,000 X 30% = R6,000 (Maximum allowed loan repayment)

CALCULATE YOUR BUDGET

By calculating your budget you will determine what amount you can afford to contribute towards your loan repayments. Do a monthly income and expenses calculation and determine what your disposable income is. In other words what the amount is that you have left after your deductions. If you are paying rent then you should not deduct the rental amount from your expenses. When you are a home owner you will not be paying rent anymore

You can now calculate the maximum purchase price that you will be able to afford and qualify for

Refer to the table below using your disposable income to look up your maximum purchase price or click here to do the calculations

Available For Loan Repayment

Possible Purchase Price @ 10% Interest Rate

Possible Purchase Price @ 11% Interest Rate

R 2 250

R 233 155

R 217 983

R 2 400

R 248 699

R 232 516

R 2 550

R 264 243

R 247 048

R 2 700

R 279 786

R 261 580

R 2 850

R 295 330

R 276 112

R 3 000

R 310 874

R 290 645

R 3 300

R 341 961

R 319 703

R 3 600

R 373 049

R 348 774

R 3 900

R 404 136

R 377 838

R 4 200

R 435 223

R 406 902

R 4 500

R 466 311

R 435 967

R 4 800

R 497 398

R 465 031

R 5 100

R 525 486

R 494 096

R 5 400

R 559 573

R 523 160

R 5 700

R 590 660

R 552 225

R 6 000

R 621 748

R 581 289

R 6 300

R 652 835

R 610 354

R 6 600

R 683 922

R 639 418

R 6 900

R 715 010

R 668 483

R 7 200

R 756 097

R 697 547

R 7 300

R 777 185

R 726 612

R 7 800

R 808 272

R 755 676

R 8 100

R 836 359

R 784 740

R 8 400

R 870 447

R 813 805

R 8 700

R 901 135

R 842 869

R 9 000

R 932 622

R 871 964

​We have the tools to guide you towards home ownership. Click here to help you take the first step