How much can I afford to borrow?
Lenders look at your income and expenses before they lend. Work it out yourself first: how much is left after all your costs, and what loan fits into that?
Possible loan amount
R122 932
Possible monthly repayment
R4 500.00
Left after costs
R5 000.00
Keep a buffer for unexpected costs. A repayment that uses up all your spare money becomes a problem at the first big repair.
How lenders assess your budget
Lenders compare your regular take-home pay with your fixed costs and existing repayments. They also check your credit report for missed payments and defaults.
The calculator shows which monthly repayment is possible after all costs and your buffer, and what loan amount that allows at the chosen term and rate.
Good to know
Affordability checks
Lenders check whether you can afford the repayments. The amount you can actually borrow may be lower than this result.
Longer term = higher amount
A longer term lets you borrow more, but you pay more interest in total.