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BetterBond is a bond originator based in Pretoria, South Africa. We have been providing South Africans with home loans and bond advice since 2000. 

Affordability

The more information you can provide, the more accurate your estimate will be.

This affordability calculator uses the current interest rate, but the rate that will be applied to your home loan could vary, depending on factors like your credit score and whether you've saved a deposit.

Interest rate

This affordability calculator uses the most common home loan term, which is 20 years (240 months), but you can enter another timeframe and the results will change accordingly.

Repayment term

Enter your (and your co-applicant's) monthly income before taxes to determine affordability.

Monthly gross income

Enter your (and your co-applicant's) monthly income after taxes to determine affordability.

Monthly nett income

The monthly amount you pay on debt and household expences. Do not include rent or loan amounts if these will be replaced by the new bond payment.

Monthly expenses

This is the monthly repayment calculated on the loan amount you qualify for.

Total monthly repayment

This is the amount you qualify for based on the income and expences information you captured.

Total loan amount

Repayment

The price of the property you're buying and will therefore have to repay.

Purchase price

The amount you need to borrow, and repay with interest, to finance your property purchase.

Bond/Loan amount

This repayment calculator uses the current interest rate, but your actual rate will vary based on factors like your credit score and the size of your deposit, if you have one.

The most common home loan term is 20 years (240 months), so that's what this repayment calculator uses, but you can change the loan term to see how the results will differ.

The monthly repayment on the loan amount you qualify for.

The total amount you will be repaying over the entire term of your bond.

Total amount repayable

The total amount to cover the registration of the bond and the transfer of the property into your name.

Total bond and transfer cost

Amortisation

The more information you can provide, the more accurate your estimate will be.



This rate will determine which percentage of your repayments go towards paying off interest, as opposed to reducing the capital you owe on your home loan.

The total amount of interest paid over the term of your home loan.

Total interest paid

Bond

The purchase price of your new home will determine the size of your bond and the transfer costs payable.

Purchase Price

The purchase price will determine the loan amount and therefore the bond costs, as well as the transfer costs, which are payable to the transferring attorneys.

This bond and transfer cost calculator uses the current interest rate, but the rate could change, based on factors like your credit profile and whether you'll be paying a deposit upfront.

This bond and transfer cost calculator use a term of 20 years (240 months), which is the most common home loan term, but you can change the timelines to see varied results.

Repayment Term

The cumulative cost of registering your new bond and transfering the property into your name.

Fees for the services of registering (bond) attorneys to get your bond registered over the Title Deed of the property.

Bond registration cost

Fees published in the Government Gazette and based on the bond amount.

Bond deeds office fees

Costs incurred during bond registration and transfer, including telephone, postage, courier, administration and bank charges.

Post, petties, FICA, other fees

Fee charged by the banks to open your home loan account, which is essentially a bank account.

Bank initiation fee

The government's acquisition tax that you pay to transfer a property into your name. There is no transfer duty on property valued up to R1 million.

Transfer duty

Not the same as transfer duty, transfer costs cover the transfering of the property into your name, and are payable to the transferring attorneys.

Property transfer costs

The fees for registering a property transfer to your name at the Deeds Office.

Transfer deeds office fees

Additional

By making additional payments into your home loan, you will pay off the purchase price of your property sooner, and therefore save on interest.

Additional payments into your home loan will not affect the interest rate at which you repay, but it will mean you save on interest over the remaining term of your bond.

Any additional payments you make into your home loan would shorten the remaining term of your bond and could mean considerable savings on interest.

The additional monthly amount you will be paying onto your home loan.

Additional payment amount

The new monthly repayment amount if you were to put additional funds into your home loan on a regular basis.

New monthly repayments

The monthly amount you have been paying on your home loan, before making additional payments.

Old monthly repayments

The interest you'll be saving by making additional payments into your home loan.

Total savings on interest

The total amount to be repaid, including capital and interest.

The total amount of interest you will pay over the term of your home loan.

Total interest

The new, shorter, term of your home loan, based on the additional payments you'll be making.

New loan duration

Deposit

The size of your deposit will determine your bond/loan amount.

The banks typically work on a deposit that is 10% of the purchase price of the property.

Deposit percentage required

Any current savings you might have, which could go towards a deposit, as part of the transaction to buy your new home.

Existing savings

The date by which you will need to pay the deposit and therefore the amount of time you have to save.

Deposit required date

The interest rate offered by the bank or other financial institution where your deposit savings are held.

Savings interest rate

The total amount you need to save for a deposit on your new home.

Deposit goal

The monthly amount you need to save towards a deposit on your new home.

Monthly savings amount required

The total deposit amount you need to save to meet the bank's requirements (typically 10% of purchase price).

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