Luna SwitchHome loan calculators
Four calculators for the numbers that decide whether a South African property deal works: what the bond repays, what you can afford, what the transfer and bond costs come to, and what a deposit actually buys you. Nothing you type is stored, and no email address is asked for.
What will my bond repayment be?
Enter the loan amount, the rate and the term, and this works out the monthly instalment and what the loan costs over its life. Add an extra monthly payment to see how much interest it saves and how many years it takes off.
The loan
Prime is 10,50%. Your bank may price above or below it.
Optional. Even a small amount changes the picture.
An estimate on the figures you entered. Banks quote a rate against your own credit record.
Apply on Luna Switch →How much can I afford to borrow?
South African banks apply two limits at once: the bond should stay at or under about 30% of gross income, and it has to fit what is left after deductions, living costs and existing debt. Whichever is lower is your ceiling, and this tells you which one is binding you.
Your income
Monthly rands.
Before deductions. The 30% rule runs on this.
Car, credit cards, store accounts, personal loans.
An estimate, not an offer.
Apply on Luna Switch →What are the transfer and bond costs?
On top of the purchase price you pay transfer duty, conveyancing fees for the transfer and the bond, and deeds office fees. On a new build from a developer there is no transfer duty, because VAT is already in the price — the two are never charged together.
The purchase
Transfer duty on the SARS sliding scale.
Set to 0 if you are buying cash.
Ticking this removes transfer duty, because the price already includes VAT.
Conveyancing is quoted off an attorney's tariff, so treat the fee lines as a close estimate. Transfer duty is exact.
Apply on Luna Switch →What does a deposit actually save me?
A deposit lowers the amount you borrow, which lowers the monthly repayment and the total interest — and it lowers your loan-to-value, which is what banks price against. Below 90% LTV the rate usually improves; at 80% or better it improves again.
The deal
What you are paying, and what you are putting in.
Apply on Luna Switch →
Happy with the numbers? Apply.
Build one application on Luna Switch and hand it to a registered bond origination house you choose. About 84 in every 100 applications that go to all the banks together are approved, against roughly half walking into one bank alone.
Free to you · Questions? support@lunaswitch.tech