Mortgage Calculator
Calculate your estimated monthly bond payments and see what you can afford.
Loan Details
10.0% of property price
Monthly Payment
Estimated Monthly Payment
R19 196
Loan AmountR1 800 000
Total InterestR2 806 976
Total PaymentR4 606 976
Total Number of Payments240
Important Note:
This calculator provides an estimate only. Actual payments may vary based on additional fees, insurance, and other factors. Consult with a financial advisor for personalized advice.
Understanding Your Bond
A mortgage (or home loan) is a loan used to purchase property in South Africa. Understanding how it works and what you can comfortably afford is crucial before making an offer on a property.
Key Factors
Property PriceThe total cost of the property you wish to purchase.
DepositThe upfront payment, typically 10-20% of the property price.
Interest RateThe annual rate charged by the bank, currently around 11-12% in South Africa.
Loan TermThe period over which you'll repay the loan, usually 20-30 years.
Additional Costs to Consider
Remember to budget for these additional closing costs when buying property:
- Transfer duty (government tax on property transfers)
- Transfer fees (attorney fees for transferring the property)
- Bond registration fees
- Property valuation fees
- Homeowner's insurance
- Monthly municipal rates and levies