When looking at this type of calculator we generally need to insert our deposit amount and bond amount in order to do the calculation. Other fields that need to be available to insert an amount is the interest rate as well as the loan term required for the home loan.
An additional feature that we generally look for is an additional calculation that can be made in order to determine what the bond amount and monthly instalment will be if you do additional payments into your home loan.
These were the requirements that we looked for and as we spent many hours looking into these features, we finally found a calculator that ticked all our boxes.
Rawson bond calculator offers all these features and we use their calculator weekly to work out a bond amount and provide you with a very accurate bond repayment amount, in order for you to work out exactly what type of home loan you will be able to afford.
A home loan calculator provides people with the ability to workout objectively what amount they will be able to afford to repay and thus what the limit will be when looking at a new property to buy and ultimately apply for a home loan with a financial institution.
There are various companies that offer this service that includes all the major banks in South Africa and we will be reviewing them online in the coming weeks, in order for you to provide you with an objective review on what you need to know and expect when looking at a home loan.