Bond & Home Loan Repayment Calculator
Estimate your monthly home loan repayments and see a complete cost breakdown.
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Key Mortgage Definitions
- Principal Debt
- The original amount of money borrowed from the bank to purchase your property, excluding interest. This is usually the Purchase Price minus your Deposit.
- Amortization
- The process of paying off a debt over time through regular payments. A portion of each payment is for interest and the remaining amount is applied to the principal balance.
- Variable Interest Rate
- An interest rate that fluctuates with the South African Prime Lending Rate (Repo Rate). If the Prime rate goes up, your repayment increases.
- Bond Registration Costs
- Fees paid to the registering attorney to register the bond at the Deeds Office. This is separate from Transfer Duty and is typically calculated on a sliding scale based on the loan amount.
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- Official Amortization Schedule
- Tax Certificate Format