Customize Your Loan Term: While many home loans span around 20 years, our calculator allows you to adjust the term to suit your financial goals. Consider both shorter and longer terms to see how they impact your monthly payments and overall affordability.

Income Considerations: Your affordability is largely determined by your gross monthly income. Typically, around 30% of this income is considered for home loan repayments. However, remember that this is a general guideline and individual circumstances may vary.

Disposable Income: Besides your gross income, it’s crucial to assess your disposable income – the money you have left after covering essential expenses. This will give you a realistic picture of what you can comfortably afford to pay towards your home loan each month.

Use as a Guide: Our bond affordability calculator is a valuable tool to estimate the maximum loan value and monthly repayments you might qualify for. However, it’s essential to remember that it doesn’t guarantee loan approval. Actual approval depends on various factors, including credit history, debt-to-income ratio, and the bank’s discretion.

Apply for a Home Loan: Once you’ve used the calculator and have a clear idea of your affordability range, it’s time to apply for a home loan. Be prepared with all necessary documentation and understand that the final decision rests with the lender.

Review Regularly: Your financial situation may change over time. Revisit the calculator periodically to reassess your affordability based on updated income and expenses. This will ensure that you stay within a comfortable financial range when considering a home loan.