Home loan calculator | Calculate your monthly bond repayments
Enter a purchase price, deposit, interest rate and loan term to see your estimated monthly bond repayment. It takes a minute and shows you what a home could cost per month before you speak to a bank.
**Disclaimer: Kindly be aware that this bond repayment calculator utilizes the prime interest rate for bond payment calculations. For convenience, this does not necessarily represent the actual interest rate a bank may offer you. The purpose of this calculator is solely to offer estimates based on the specified amounts. While we always strive for accuracy in these calculations, we cannot guarantee their precision. Therefore, FlexiBonds assumes no responsibility for any inaccuracies or damages resulting from the use of this calculator.
What affects your monthly home loan repayment
Your credit profile
Your credit score plays a key role in determining the interest rate used in your home loan calculation, directly affecting your monthly repayments and overall affordability.
Loan term
Choosing a longer loan term can reduce your monthly bond repayments, but it also increases the total interest you’ll pay over the life of your home loan. Adjusting the loan term in the home loan calculator helps you compare repayment options.
A deposit
A larger deposit reduces the amount you need to borrow, lowers your monthly repayments, and can improve the interest rate offered by lenders.
Home loan interest rates in South Africa
Interest rates have a significant impact on the results shown in your home loan calculator. Even small changes to the interest rate can increase or decrease your monthly bond repayments and the total amount you repay over the life of your home loan.
Property value
The price sets the size of your loan and your transfer costs. A higher price with the same deposit means a bigger bond and a higher monthly repayment.
Additional costs
When buying a property, remember to budget for additional costs such as transfer duty, bond registration costs, conveyancing attorney fees and other registration expenses. These costs are separate from your monthly home loan repayments.
Home loan calculator FAQs
How accurate is a home loan calculator?
A home loan calculator provides an estimated monthly repayment and loan amount based on the information you enter and current market interest rates. While these tools give a useful guideline, actual bond offers can differ depending on your credit score, personal financial situation, and individual lender requirements.
Can I get a home loan without a deposit?
Some lenders offer home loans with no deposit for eligible applicants, but these loans often have higher interest rates. Paying a deposit not only improves your chances of a loan approval but also reduces your monthly repayments and overall loan costs over time.
How much deposit do I need for a bond?
Deposit requirements vary by bank and by applicant. A larger deposit reduces your loan and can help you qualify for a better rate.
Find out what a bank is likely to lend you
Once you’ve estimated your monthly repayments, the next step is finding out what you could qualify for. A home loan pre-qualification provides a clearer picture of your borrowing power before you begin viewing properties. We compare home loan offers from multiple lenders to help you find a suitable solution at no cost to you.