South African banks usually let you qualify for a home loan repayment of around 30% of your combined gross monthly income, which is your total joint income before taxes and expenses are taken out. This guideline is in place to ensure that banks follow responsible lending practices as required by the National Credit Act of South Africa. Banks assess your net monthly income after deducting your total monthly expenses to ensure that your remaining disposable income can cover the monthly home loan repayments. Remember, this 30% figure is a rough estimate, so it's best to consult with a bond originator for an accurate amount tailored to your situation.
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