How much can I afford?

Gross income is your total income before tax and deductions. If you are more than one person applying for a home loan, it will be your combined gross income. It includes all income that you taxed on.

Net income is your total income after tax and deductions. If you are more than one person applying for a home loan, it will be your combined net income.

As a general guideline, your monthly repayment may not exceed 30% of your combined gross income, and it may also not exceed your monthly surplus income.

The number of years over which you repay the loan directly affect the monthly repayment amount. A longer period will reduce the monthly amount but it will cost you more in the long run.

The home loan affordability calculator is a guideline only. If you decide to apply for a home loan, the bank will do their own credit and affordability assessment, which will have an influence on the numbers.

We recommend you get a no-obligation pre-approval before you start your house hunt.

Your monthly surplus income is the monthly income remaining after deduction of your monthly expenses from your net income. The bank will look closely at this amount when you apply for a home loan.