Use the bond calculator to determine affordability of loans or mortgages. By adjusting the interest rate, term or repayment amounts you will be shown an amortization graph, indicating the effects of over or underpayment of repayment amounts.

It is startling to see what the overall effect of a small over payment on your bond amount every month saves you. By way of example, a R500 000 bond over 20 years repaid at the correct amount every month results in total repayments totalling R1,158,025.97. If we increase the repayment from the actual repayment amount of R4,825.11 to R5373.02 or about 10%, the repayment period is reduced to 15 years and you would have saved over R200 000.

By making these calculation and planning for your future, small differences in the repayment amounts can make debt free home ownership a reality sooner than you can imagine.