South Africa · Free · No signup · Editable rate
Estimate your monthly home-loan repayment, total interest and the effect of extra payments. Use your lender's quoted rate when you have one.
Prime reference: 10.50% · source period 23 July 2026. Your bank's offered rate may differ, so the field stays editable.
Pre-filled from Odyssey's dated prime reference. Replace it with the annual rate in your lender quote for a more relevant estimate.
Used only for a repayment-to-income planning reference, not a bank approval estimate.
Models how a regular additional payment could shorten the term and reduce interest if the rate stays unchanged.
This tool uses the standard amortisation formula: the loan principal is the home price minus your deposit, the annual rate is converted to a monthly rate, and the balance is repaid over the selected number of months. Early instalments contain more interest because the outstanding balance is larger.
Odyssey pre-fills 10.50% as a dated South African prime reference for the 23 July 2026 source period. A lender can offer you a different rate, so once you have a quote, replace the reference with your actual offered annual rate.
A regular extra payment reduces the outstanding balance sooner. Under an unchanged-rate scenario, the calculator models the extra payment month by month so you can compare estimated interest and payoff time with the standard schedule.
No. It is only the scheduled repayment divided by the gross income you entered. Some South African bank calculators use about 30% of gross income as a planning reference, but a real credit decision also considers expenses, debt, credit history, the property and lender rules.
The Department of Human Settlements remodelled the former FLISP programme as First Home Finance. The Department currently describes the gap-market income band as R3,501 to R22,000 per month. Eligibility and subsidy amounts depend on the programme rules and applicant circumstances.
Read how bond repayments work in South Africa for the formula, a dated rate example and the difference between a repayment estimate and lender approval.
Rate and programme context is linked so you can inspect the underlying reference. These sources do not turn Odyssey's calculator into a lender quote or credit decision.
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