Mortgage Plus Home Loan calculators help you make the right decision*

Bond Calculator Objectives
The most common calculation objectives when using bond calculators are calculating monthly bond repayments & interest, determining levels of affordability, calculating the income qualification benchmark based on a required bond amount and analyzing optimal bond repayment options.
All of these objectives can be met by using our bond calculators. We also provide additional bond calculations which enable users to calculate sensitivities around the main bond variables – interest rates, bond periods and deposit amounts.
A comprehensive transfer and bond cost calculator is provided to assist in calculating an accurate estimate of the bond and transfer costs that will be incurred when purchasing a property. Our bond calculators also feature an amortization table which includes a column for the outstanding capital percentage – this calculator is well worth having a look at and is guaranteed to enhance any user’s understanding of how the outstanding capital amount is repaid over the entire bond period.
All our bond affordability and minimum income calculations are based on net disposable income as required by the National Credit Act.

Home Loan Affordability Calculator
Work out the loan value you could qualify for based on your current gross income. The bank requires a clear credit record and generally allows you a loan on which the repayments are no more than 30% of your gross monthly income.

Bond Repayment Calculator
Before you start looking for a home, do a few calculations to establish your price range, your repayments, and the once-off costs of the purchase.
The calculator uses the simple criteria of calculating the Home Loan Amount and then the Loan Repayment Amount based on the criteria selected. If your Bond Costs are included in the Home Loan Amount, increase the Purchase Price with the costs.

Savings Calculator
Calculate the amount saved on your loan by paying additional instalments.

Home Loan Amortization calculator
The amortization table displays the breakdown of the monthly bond repayment into an interest and capital portion over the entire bond period. It also reflects the outstanding capital amount at the end of every month during the bond period.

Transfer and Bond Cost Calculator
The purchase of property is levied by the government (transfer fees) and there are legal and admin costs for the registration of the home loan, most of which are due upfront, before transfer can take place. Use this calculator to work out what these costs are so you can have the funds available in time.

Home Loan and Mortgage Calculators

Disclaimer: All rates and fees are illustrative rates and fees, which are subject to change. This calculator is provided for you convenience and provide estimated values based on the criteria selected. When consulting a Mortgage Plus agent the costs can be formally confirmed based on all the information provided.

Please contact us if you require any further information or would like to apply for finance:

Complete this short form online

011.327.4489 / 0861 1111 93

morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za

Getting pre-qualified and approved at Mortgage Plus

Before you put in an Offer to Purchase, this is the very first thing you should do – get yourself pre-qualified for a bond.

Getting yourself pre-qualified before putting in an Offer to Purchase should be the first step you take. The National Credit Act stipulates that monthly deductions, e.g. income tax, monthly living expenses and debt need to be taken into account. Your level of debt can affect the amount for which you qualify. It is advisable that you provide your Mortgage Plus home finance expert with an accurate summary of your monthly expenditure so your pre-qualification amount can be determined. Your Mortgage Plus home finance expert will formulate your pre-qualification amount and issue you with a certificate. This enables you to provide an estate agent with a pre-qualification certificate that has been calculated according to the National Credit Act requirements.


Your pre-qualification is valid for 90 days. After 90 days your Mortgage Plus home finance expert will contact you to check whether your expenses have changed over this period. If there has been a material change, the pre- qualification will be recalculated and revalidated. If there is no material change to either income or expenditure, Mortgage Plus will reissue a revalidated certificate.

Quotation

Once the banks have assessed your home loan application, and if the application is successful, the bank will issue a Quotation which will include interest rate, cost of credit, any special conditions that may apply, etc. Your Mortgage Plus home finance expert will discuss this and other bank quotations with you. Once you agree on a Quotation, Mortgage Plus will notify the relevant bank, who in turn will proceed to instruct the attorney appointed to register the mortgage bond.

CONTACT US

Speak to a home loan consultant about financing your new property or reviewing your existing mortgage. We are able to assist in lowering your bond repayments and securing attorney discounts.

Complete this short form online

Call us on 011.327.4489

Email: morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za