The prime lending rate fluctuates based on the South African Reserve Bank’s repo rate decisions. It’s currently around 11.75% (as of early 2025). Home loan rates are typically prime minus a percentage for good credit, or prime plus for higher risk.

Most banks require a minimum deposit of 10% of the purchase price. However, 100% bonds are sometimes available for first-time buyers with excellent credit scores. A larger deposit means a lower monthly repayment and less total interest paid.

Transfer duty is a tax paid to SARS when buying property. Properties under R1,100,000 are exempt. The rate increases progressively from 3% up to 13% for properties above R11 million. This calculator helps you estimate the cost.

Yes! Even small additional payments make a huge difference. Adding just R500/month extra on a R1 million bond can save you over R200,000 in interest and shave years off your repayment term. This calculator shows the impact.

Budget for: transfer duty (if applicable), bond registration costs (approximately R25,000-R35,000), conveyancing attorney fees, initiation fee (R1,207 max), monthly rates and taxes, home insurance, and moving costs. Total extra costs are typically 8-10% of purchase price.