It’s important to understand all the costs involved in buying a house before taking out a new home loan. It’s also interesting (and scary) see how much interest you’re actually paying! Use this home loan calculator to understand your monthly installment and see exactly what the principle and interest amount are each month. Take particular note of the first few periods as this will show the high interest paid at the start.
Learn about how loans work and take charge of your money!
Want to refinance your home loan? Take a look at this to see if it’s worth refinancing your home.
Using this Home Loan Calculator South Africa
When completing the details in the home loan calculator, you can request that the detailed amortization report be emailed to you as a PDF. If you don’t receive a mail within minutes please check your spam folder as it gets sent immediately. Email addresses are not stored and not used for anything else.
Note that this home loan calculator can also be used as a personal loan calculator or car finance calculator. Just add in the appropriate amounts; the maths it the same! The home loan calculator is for South Africa and is in Rands.
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Let me know if you have queries about home loans or how interest works. I like to write about such topics and your questions may inspire a new post on the subject. Use the Contact form to get hold of me or find me on social media.