How can we help you determine how much you can afford?

The affordability factor – it’s essential to consider before you hit the Sunday show days. We will help you to understand upfront how much finance you qualify for by reviewing your credit worthiness and affordability. We calculate this based on your disposable income, that’s the amount you have left for your loan after paying for your living expenses and other monthly bills.

As a general rule, your loan repayment should not exceed 30% of your income before deductions. This is only a guide and what is affordable to you will depend on your particular circumstances.

We will then give you a Free Prequalification certificate ( Home Loan Pre-Approval) – a document that gives you the freedom to shop for a home in your price range, knowing that a Mortgage Plus Expert has already checked out what you can afford.

By honing your house hunt at the start, you will save a lot of time and frustration. This pre-qualified certificate is valid for 30 days only. Please note that an evaluation on the property will still need to be conducted to determine if the property is good security.

If you need assistance with calculating what you can afford, please select one of the following home loan calculators to help you! Alternatively you can speak to a Property Specialist who will be happy to help you.

Mortgage Plus Home Loan Calculators:

• Affordability Calculator

• Bond Status Calculator

• Increased Instalments Calculator

• Minimum Income Calculator

• Monthly Payments Calculator

Note: All applicants must have a clear credit record in order to apply for a loan as per credit criteria.

If you would like to speak to a Professional Mortgage Specialist about your lending requirements, please phone Mortgage Plus Bond Originators on:

Complete this short form online

011.327.4489 / 0861 1111 93

morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za

Bond Calculator Objectives | Bond Calculators

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 calculators helps to detail you the exact information related to your saving investment.

Mortgage Plus Bond Originators Recommend the Following Calculators:

Minimum Income Calculator

This bond calculator will show you what your monthly instalments will be and what monthly income you need to secure the loan.

Maximum Bond Calculator

Use this Bond Calculator to work out what is the maximum amount you can borrow according to your income

Bond Repayment Calculator

Use this Bond Calculator to work out what your monthly repayments will be.

Bond Status Calculator

This bond calculator shows you how much you still owe on your Home Loan, as well as how much Interest and Capital you have paid.

Increased Installment

This bond calculator will show you how much you can save by increasing your monthly installment. You will see how the repayment term shortens as well as the total savings in interest.

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