First-Time Home Buyer Calculator
Calculate your repayment with 0% deposit options and see if you qualify for government subsidies.
First-Time Buyer Cheat Sheet
- 100% Bond (Zero Deposit)
- A home loan where the bank lends you the full purchase price of the property. You don't pay any deposit upfront, but your monthly repayment will be higher because the loan amount is larger.
- FLISP Subsidy
- A "GAP" housing subsidy for citizens earning between R3,501 and R22,000/month. The government pays a lump sum (e.g., R50,000) directly into your bond, reducing your loan instantly.
- 105% Bond
- A special loan product for first-time buyers that covers the property price (100%) plus an extra 5% to help pay for transfer and bond registration costs.
- Transfer Duty Exemption
- As of the 2025 tax year, any property purchased for R1,100,000 or less is exempt from Transfer Duty tax, regardless of whether you are a first-time buyer or not.
Questions New Buyers Ask
Can I buy a house without a deposit?
Yes. As a first-time buyer, major South African banks (FNB, Standard Bank, Absa, Nedbank) often offer 100% bonds, meaning you don't need a cash deposit. Some even offer 105% bonds to cover transfer costs.
What is the FLISP subsidy?
FLISP (Finance Linked Individual Subsidy Programme) is a government subsidy for first-time buyers earning between R3,501 and R22,000 per month. It reduces your bond amount, making your monthly repayment lower.
What are the hidden costs for first-time buyers?
The biggest hidden costs are Transfer Duty (free for properties under R1.1m) and Transfer Attorneys fees. Even with a 100% bond, you usually need cash for the attorneys unless you get a 105% bond.
Get a Formal Quote PDF
Need a formal document for your bank application or client? Enter your email to receive a branded PDF breakdown of this calculation including transfer costs and amortization.
- Official Amortization Schedule
- Tax Certificate Format