How Much Home Loan Can You Afford in South Africa? 2026 Affordability Calculator
On a gross monthly income of R 40 000, you can afford a home loan of roughly R 1 181 999 at today’s prime of 10.75% — banks start from an instalment of at most 30% of your gross income, assuming no other debt. Enter your own income and expenses below to see your band.
By Neil B · Checked against published primary sources · Published 2026-08-15 · Last verified 2026-10-09
Maximum bond by gross monthly income (30% rule, 10.75% prime, 20 years, no deposit):
- R 25 000 income → R 738 750 bond
- R 40 000 income → R 1 181 999 bond
- R 60 000 income → R 1 772 999 bond
Updated 9 October 2026 · Prime effective 2026-09-25 (SARB). Estimates only — what you can actually borrow depends on your expenses, credit record and each bank’s assessment.
Home loan affordability at a glance
Every number below is computed from our calculator at the sourced prime rate, and dated further down the page.
How much home can you afford?
This calculator uses the same affordability rule banks use as a starting point: your bond instalment should not exceed 30% of your gross monthly income, and must fit inside what you have left after expenses.
Free to use. bond.co.za is an independent educational resource — we do not provide credit, origination, legal or conveyancing services. About our independence.
Ballpark your maximum bond in two clicks
No contact details — we'll estimate the bond size your gross monthly household income supports at today's prime rate.
Gross monthly household income
Deposit you plan to put down
How much home loan do I qualify for on my salary?
Start from an instalment of at most 30% of your gross monthly income: on R 40 000 gross that is an instalment of about R 12 000, which supports a bond of roughly R 1 181 999 at today’s prime of 10.75% over 20 years.
| Gross monthly income | Max instalment (30%) | Estimated max bond |
|---|---|---|
| R 15 000 | R 4 500 | R 443 250 |
| R 25 000 | R 7 500 | R 738 750 |
| R 40 000 | R 12 000 | R 1 181 999 |
| R 60 000 | R 18 000 | R 1 772 999 |
| R 100 000 | R 30 000 | R 2 954 998 |
Assumes no deposit and no other debt; every rand of existing monthly debt repayments reduces the bond you can carry. Figures as at 9 October 2026, computed at the SARB prime rate of 10.75% (effective 2026-09-25) over 20 years.
How much do you need to earn to buy a R1.5m or R2m house?
Working backwards from the 30% rule at today’s prime of 10.75% over 20 years with no deposit, a R1 500 000 home needs roughly R 50 761 gross monthly income and a R2 000 000 home needs about R 67 682 — a deposit lowers both figures because it shrinks the bond itself.
| Purchase price | Monthly instalment (10.75%, 20 yrs) | Gross income needed |
|---|---|---|
| R 1 500 000 | R 15 228 | R 50 761 |
| R 2 000 000 | R 20 305 | R 67 682 |
No deposit, no other debt; figures as at 9 October 2026. For the cash you also need upfront — transfer duty, conveyancing and bond registration — use the bond and transfer cost calculator.
How does the interest rate affect what I can afford?
Directly and twice over: a lower rate means a lower instalment on the same bond, and a bigger bond supported by the same income. Home-loan offers across the major banks typically land between 9.75% and 12.75% — from prime minus 1% for a strong credit profile with a substantial deposit, to prime plus 2% for a weaker or thin-file profile. The rate is variable: it moves whenever prime moves.
| Illustrative rate | Repayment on R1 500 000 | Max bond on R 40 000 income |
|---|---|---|
| 9.75% (prime -1%) | R 14 228 | R 1 265 133 |
| 10.75% (prime) | R 15 228 | R 1 181 999 |
| 12.75% (prime +2%) | R 17 307 | R 1 040 031 |
Illustrative major-bank rate band (offsets from prime). Source: bond.co.za illustration of published major-bank pricing, cross-checked with ooba Home Loans rate-concession reporting (https://www.ooba.co.za/resources/which-bank-has-lowest-interest-rate-on-home-loans/), last updated 2026-10-03. Offsets from prime, not offered rates — every rate depends on the bank’s own credit assessment. Comparing banks is worth it: ooba reports an average concession of about 0.67% below prime across the bonds it registers.
How much deposit do I need for a home loan?
There is no official minimum — some banks still grant 100% bonds, and first-time buyers without a property to sell are a segment banks actively compete for — but every rand of deposit shrinks the loan, the instalment and the income you need, and usually earns a better rate.
| Deposit on R 1 500 000 | Bond amount | Monthly instalment | Gross income needed |
|---|---|---|---|
| None (100% bond) | R 1 500 000 | R 15 228 | R 50 761 |
| 10% (R 150 000) | R 1 350 000 | R 13 706 | R 45 685 |
10.75% prime, 20 years, figures as at 9 October 2026.
Weighing up 100% versus saving first? See the home loan deposit guide and the guide to 100% home loans.
Can I use a joint income to qualify for a bigger bond?
Yes — on a joint application the bank assesses your combined gross household income, so two salaries together clear a bigger affordability ceiling than either alone. The trade-off: both applicants’ credit records, expenses and existing debts are assessed too, so a weak credit record on either side can drag the whole application down.
How joint ownership and liability work in practice — including what happens if one partner wants out — is covered in the joint home loan guide.
How does the home loan affordability calculation work?
We take the smaller of two caps: 30% of your gross monthly income, and your income minus your monthly expenses. That gives us a maximum instalment. We then reverse the standard reducing-balance annuity formula to work out the loan size at the current South African prime rate of 10.75% over 20 years.
Your deposit is added to the loan amount to arrive at a maximum purchase price. The repayment band then shows what the same loan would cost at three illustrative rates, because the rate you are offered depends on your credit profile, deposit and how much the banks are competing for your deal.
Assumptions: monthly repayments in arrears; no fees, insurance, transfer duty or bond-registration costs included; the rate is an annual nominal rate compounded monthly; numbers are rounded to the nearest rand for display only. Source: South African Reserve Bank (SARB), last updated 2026-09-23; figures verified 9 October 2026.
This is an estimate and an information tool, not financial advice and not a bank approval. For advice on your specific situation, speak to your lender or a qualified financial adviser.
What do banks check before deciding how much you can borrow?
Banks look at your credit record, your disposable income after disclosed expenses and existing debt, your deposit (loan-to-value), employment stability and the property valuation — so the 30% rule is a starting point, not a promise, and two applicants on the same salary can get different outcomes.
What this estimate leaves out
- Existing debt — every monthly repayment you disclose (car, credit card, student loan) comes off the instalment you can carry.
- Your credit record — it decides whether you are approved and where in the rate band your offer lands.
- Upfront costs — transfer duty, conveyancing and bond registration fees, plus the deposit itself.
- Ongoing costs — initiation and monthly service fees, homeowner’s insurance, life cover banks may require, municipal rates and levies.
- Rate movement — the prime rate is variable; your instalment changes every time it moves.
The estimates on this page assume a constant rate over the full 20-year term and use the standard annuity formula. They are not an offer, a pre-approval or a prediction of what any bank will lend you. Figures last verified 9 October 2026.
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Free to use. bond.co.za is an independent educational resource — we do not provide credit, origination, legal or conveyancing services. About our independence.
Related tools and guides
- Want the reasoning behind these numbers? Read how much home loan you can get on your salary — how banks turn your income into a loan amount.
- Already have a price in mind? Work out the monthly repayment with our bond calculator.
- Want today’s benchmark? See today’s prime interest rate — every figure on this page is priced off it.
- Buying your first home? Start with the first-time buyer guide, and see what government help is available in our First Home Finance (FLISP) grant guide.
- Worried your credit score could affect your options? Read our guide to home loans with bad credit.
- Have retirement savings but limited cash for a deposit? Read about pension-backed home loans.
- Buying sectional title? See what levies do to your affordability.
- Getting ready to approach a bank? Read how bond pre-approval works, then gather the documents banks need for a home loan application.
- Income falling short of the bond you need? Read how a home loan guarantor (surety) works — and the risks for whoever signs.
Common questions about home loan affordability
How much income do you need to buy a R2 million house?
With no deposit, you need roughly R 67 682 gross monthly household income for a R2 000 000 home, because the instalment at today's prime of 10.75% over 20 years is about R 20 305 and banks start from an instalment of at most 30% of gross income. Disclosed expenses and existing debt reduce what a bank will actually grant.
What salary do you need for a R1.5 million house?
A R1 500 000 home with no deposit needs a gross monthly income of about R 50 761 at the current prime rate over 20 years — the instalment works out to roughly R 15 228 a month. A deposit shrinks both the loan and the income the bank needs to see.
Can you get a home loan with a R5 000 salary?
On a R5 000 gross salary the 30% rule supports a bond of roughly R 147 750, so at current property prices a joint application with a partner or co-applicant is usually the realistic route. There is no official minimum income — the instalment still has to fit the bank's affordability assessment.
What can I afford with a R25 000 salary?
At 10.75% prime over 20 years, a R25 000 gross monthly salary supports a home loan of roughly R 738 750, before any deposit — expenses you disclose will reduce this number. If you are buying with a partner, your combined gross income is assessed as one household.
What can I afford with a R60 000 salary?
A R60 000 gross monthly salary supports roughly R 1 772 999 of home loan at today's prime over 20 years, or a more expensive property if you add a deposit on top. The actual grant depends on your credit record and disposable income after expenses.
How much deposit do I need for a home loan in South Africa?
There is no official minimum deposit and some banks still grant 100% bonds, but a deposit directly lowers the income you need: on a R1 500 000 home at today's prime, a 10% deposit (R 150 000) cuts the monthly instalment from about R 15 228 to roughly R 13 706 and the income needed from about R 50 761 to R 45 685. A bigger deposit also tends to earn a better interest rate.
Can I use my partner’s income to qualify for a bigger bond?
Yes. Banks assess a joint application on your combined gross household income, so the affordability ceiling is calculated on both incomes together — but both applicants’ credit records, expenses and existing debts are assessed too, so a weak credit record on either side can drag the application down. See our guide to joint home loans for how ownership and liability work.
What is the lowest income needed for a home loan in South Africa?
There is no official minimum income — what matters is that the instalment fits the bank’s affordability assessment, your credit record is acceptable and the purchase price is realistic; at very low incomes a joint application or government housing assistance (First Home Finance) is usually the practical path.