Understanding What Goes Into a Loan Affordability Check in South Africa

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When you apply for a home loan in South Africa, lenders look closely at your credit score, debt-to-income ratio, and stability of income. They verify your monthly expenses against your earnings to see if you can comfortably afford repayments. Plus, they consider the property's value, interest rates, and potential rate hikes to ensure you won't struggle if costs rise. It's all about making sure the loan fits your financial reality, not just your wishlist.