Home Loan Qualifying Criteria in South Africa
To qualify for a home loan in South Africa, applicants generally need to be 18 or older, a South African citizen or permanent resident, pass a bank's affordability assessment under the National Credit Act, hold a workable credit record, and provide verifiable income documents. bond.co.za sets out all seven criteria below, with links to the worked numbers for each one.
By bond.co.za Editorial Team, Home loan content editor · Reviewed by Registered Mortgage Originator · Published 2026-10-01 · Last verified 2026-10-01
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What are the qualifying criteria for a home loan in South Africa?
Every South African bank runs the same seven checks, in some order, before it decides whether — and how much — to lend.
South African banks check seven things before approving a home loan: age and legal capacity, citizenship or residency status, an affordability assessment, a credit record check, verified income, a deposit or loan-to-value position, and the property itself. All seven sit inside one legal requirement — the National Credit Act requires every registered credit provider to individually assess whether a specific consumer can afford a specific loan before granting it, rather than lending against income or a published checklist alone.
| Criterion | What it requires |
|---|---|
| Age and legal capacity | At least 18 years old and legally able to enter into a credit agreement. |
| Citizenship or residency | A South African citizen or permanent resident, or a foreign national with a valid work or residence permit and local employment. |
| Affordability assessment | An instalment that fits within roughly 30% of gross monthly income and what is left after existing debt and expenses, as required under the National Credit Act. |
| Credit record | No unpaid defaults or judgments, and a credit score inside the band lenders typically treat as workable. |
| Income verification | Recent payslips and bank statements for salaried applicants; 6–12 months of business bank statements and financials for the self-employed. |
| Deposit or loan-to-value | Not always required — qualifying buyers can access 100% bonds — but a deposit lowers the loan needed and can improve the rate offered. |
| The property itself | The bank's own valuation and legal checks on the specific property, since the bond is secured against it, not only against the applicant. |
None of these criteria has one published pass mark. Each bank scores the full picture — income, debt, credit record, deposit and the property — differently, which is why the same applicant can get different outcomes at different banks.
Age and legal capacity
At least 18 years old and legally able to enter into a credit agreement. See the how-to-apply guide.
Citizenship or residency
A South African citizen or permanent resident, or a foreign national with a valid work or residence permit and local employment. See the home loans for foreigners guide.
Affordability assessment
An instalment that fits within roughly 30% of gross monthly income and what is left after existing debt and expenses, as required under the National Credit Act. See the affordability rules guide.
Credit record
No unpaid defaults or judgments, and a credit score inside the band lenders typically treat as workable. See the credit score guide.
Income verification
Recent payslips and bank statements for salaried applicants; 6–12 months of business bank statements and financials for the self-employed. See the documents guide.
Deposit or loan-to-value
Not always required — qualifying buyers can access 100% bonds — but a deposit lowers the loan needed and can improve the rate offered. See the 100% home loan guide.
The property itself
The bank's own valuation and legal checks on the specific property, since the bond is secured against it, not only against the applicant. See the offer to purchase guide.
How much must I earn to qualify for a home loan?
There is no fixed minimum — the income needed scales with the loan amount.
There is no fixed minimum income for a home loan in South Africa. Banks cap the bond instalment at roughly 30% of gross monthly income, so the income a specific bond needs scales with its size: at the current prime rate of 10.75% (South African Reserve Bank (SARB), last updated 2026-09-23) over a 20-year term, a bigger bond simply needs a bigger salary to clear that cap.
See the exact income needed for a range of bond sizes in the minimum salary for a home loan guide, or the full affordability mechanics in the affordability rules guide.
Can I buy a house with a 600 credit score in South Africa?
Possibly — but no South African lender treats any single score as a guarantee.
A score around 600 sits at the lower end of the band South African mortgage commentators commonly describe as a fair-chance zone. MortgageMarket puts the practical minimum at around 630, with 600+ giving a fair chance of approval and 670+ considered excellent (MortgageMarket, accessed 2026-09-13). Approval still depends on the rest of the application — income, existing debt, deposit and the property.
The credit score guide covers the full score bands, how to check yours for free, and a 90-day plan to improve it before you apply.
How much home loan can I get on a R60,000 salary?
Applying the affordability criterion forward, from income to loan amount.
| Gross monthly salary | Max instalment (30%) | Estimated home loan |
|---|---|---|
| R 60 000 | R 18 000 | R 1 772 999 |
Assumes no existing debt, the prime rate of 10.75% (South African Reserve Bank (SARB), last updated 2026-09-23) and a 20-year term. This is an illustration of the affordability criterion, not a quote or an approval commitment — for other salary levels, see the minimum salary guide, or run your own numbers on the affordability calculator.
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Straight answers about home loan qualifying criteria
What are the qualifying criteria for a home loan in South Africa?
South African banks check seven things before approving a home loan: the applicant is 18 or older and legally able to contract; a South African citizen, permanent resident or work-permit holder; passes an affordability assessment capped at roughly 30% of gross monthly income under the National Credit Act; has a workable credit record; can verify income with payslips or financials; has a deposit or qualifies for a 100% bond; and the property itself passes the bank's valuation. No single number in any of these criteria is published by every bank, and meeting them does not guarantee approval.
How much must I earn to qualify for a home loan?
There is no fixed minimum income. South African banks cap the bond instalment at roughly 30% of gross monthly income, so the income needed scales with the loan amount: at the current prime rate of 10.75% (South African Reserve Bank (SARB), last updated 2026-09-23) over a 20-year term, a bigger bond needs a bigger salary to pass that cap. bond.co.za's minimum salary guide shows the required income across a range of bond sizes.
Can I buy a house with a 600 credit score in South Africa?
It is possible, but it is not something any lender guarantees. A score around 600 sits at the lower end of the band South African mortgage commentators commonly describe as a fair-chance zone — MortgageMarket puts the practical minimum at around 630, with 600+ giving a fair chance and 670+ considered excellent (accessed 2026-09-13). Approval still depends on the rest of the application: income, existing debt, deposit and the property.
How much home loan can I get on a R60,000 salary?
On a gross salary of R60,000 a month with no existing debt, the 30% instalment cap allows an estimated monthly instalment of R 18 000. At the prime rate of 10.75% (South African Reserve Bank (SARB), last updated 2026-09-23) over a 20-year term, that instalment could support an estimated home loan of roughly R 1 772 999. Existing debt, a shorter term or a different rate offer would change this figure — bond.co.za's minimum salary guide covers other salary levels.
Informational disclaimer
This guide is for information purposes only and does not constitute financial advice. It does not guarantee approval, a specific interest rate or a specific loan amount. Every bank runs its own affordability and credit assessment under the National Credit Act, and your actual outcome depends on your full financial position and the property. Speak to a registered mortgage originator or your bank for an assessment based on your circumstances, and consult a qualified financial adviser for decisions about your own finances.
Last updated: 2026-10-01. Prime rate used for illustrations: 10.75% (South African Reserve Bank (SARB), last updated 2026-09-23). Instalment-cap rule of thumb: 30% of gross monthly income over a 20-year term, as at 2026-10-01. Credit score band: MortgageMarket, accessed 2026-09-13.
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