The amount you can spend on a home is calculated by adding together the maximum loan amount you could qualify for and the cash you have available for a deposit. Your affordability, or the maximum loan amount you could qualify for, is determined by using a maximum percentage of provable household income. This is generally a maximum of 30%. A deposit will reduce the amount you need to borrow. A deposit also helps by reducing your monthly bond repayment as well as lowering the total interest payable over the term of the loan.
Your affordability calculation results
Thank you for using our affordability calculator on our website. Here is how much you
can afford to spend on a new home, based on your income and deposit.
Gross monthly income
Repayment term (years)
You can afford a home of
Estimated monthly repayment
Your home loan amount
Your deposit amount
Want to speak to a friendly consultant to assist you in understanding and calculating your affordability?
The rate used in this calculation is indicative only, your rate may differ based on your speciﬁc criteria. All applications are subject to a full credit assessment. Home Owners and Credit Life insurance are not part of the estimated costs.
SA Home Loans will never let you down from the beginning till you in your new home!