By now I am sure that you have heard - interest rates are at their lowest levels in more that 50 years! That means that buying a home is more affordable than it has been for a long time.
Just look at the comparisons in the table below...
For the 4 years before 2020 the Prime interest rate averaged 10.25% - it is now 7% and the impact on the amount you qualify for is BIG!
So, your dream home is listed at R 1 000 000. It'll be a stretch to get the loan but maybe you can make it...
That is until you discover that that’s not all you will pay… the upfront costs are actually a total of...
Most people go to an online bond calculator to see how much they can afford before they go house hunting.
You can do this but the answer you get is very likely to be wrong!
In fact, our research shows that these online bond affordability calculators are wrong 65.7% of the time.