how many months income do you need for a mortgagae in south africa


You’ll need to do your research to find out how much income you’ll need for a mortgage in South Africa. But, as a general guide, you’ll need to earn at least R15 000 per month to qualify for a mortgage. Keep in mind that this is just a guide – your actual income requirements will depend on a number of factors, including the size of the mortgage you’re applying for and your credit history.

It is often said that South Africa is a country of contrasts. And when it comes to mortgages, this is certainly true. There are a wide variety of mortgage products available, from very short-term loans to those that last for decades. So, how much income do you need for a mortgage in South Africa?

The answer, unfortunately, is not a simple one. It depends on a number of factors, including the type of mortgage you choose, the term of the loan, the interest rate, and your personal financial situation.

To give you an idea of what you might need to earn in order to qualify for a mortgage, let’s take a look at a few different scenarios.

If you are looking for a very short-term loan (less than 5 years), then you may be able to qualify for a mortgage with an income of as little as R5,000 per month. However, the interest rate on these loans is usually quite high, so you will need to be sure that you can afford the repayments.

If you are looking for a longer-term loan (more than 5 years), then you will need a higher income in order to qualify. For example, if you are looking for a 10-year loan, you may need an income of R10,000 per month or more. The interest rate on these loans is usually lower than for shorter-term loans, so the monthly repayments will be less, but you will need to make sure that you can afford the higher total amount repayable over the longer term.

Of course, these are just examples, and your actual income requirements will depend on the specific mortgage product you choose and your personal financial situation. It is always best to speak to a qualified mortgage advisor to get an accurate idea of how much income you will need to qualify for the loan you are interested in.


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