Yes, Capitec offers home loans. They are offered in association with, and funded by, SA Home Loans, which assesses and approves the application, while Capitec Bank takes the application on its behalf. Approval depends on your credit record and affordability, not on meeting a checklist alone.
This page covers what Capitec’s home loan page and FAQs say in general terms. Specific limits, ages and rates change, so confirm each one with Capitec before you rely on it.
Eligibility Requirements at a Glance
- You are aged 18 to 60, according to Capitec’s FAQs.
- You are permanently employed or self-employed.
- You have a good credit record and are not under debt counselling.
- The final offer depends on your risk profile, credit record and affordability.
Capitec’s FAQs indicate that you do not have to be a Capitec client to apply. Confirm this when you apply.
Income and Affordability Requirements
Capitec’s FAQs give a maximum home loan of R5 million for permanently employed clients and R3.9 million for self-employed clients. As a general rule, the monthly bond repayment may not exceed 30% of your gross monthly income. Your final amount depends on your risk profile, credit profile and affordability, so these are ceilings, not what you will be offered.
Capitec offers an affordability calculator to estimate what you could afford before you apply. That is the best tool for a Capitec home loan calculator search: use Capitec’s own calculator, because it reflects its current rate and terms.
Credit and Financial Requirements
Lenders check your credit record, your existing debt and your income against your expenses. Late payments, defaults and debt counselling all count against you. Capitec’s FAQs say the rate you qualify for is based on your perceived lending risk, deposit amount and credit rating, with standard flexible rates and a term of up to 360 months (30 years). Capitec does not publish a rate or a minimum deposit on its home loan page. For an investment property the FAQs say the loan is limited to 80% of the property value, so you need a 20% deposit. Government employees could get a discounted rate if they use the Government Employee Housing Scheme stop order to SA Home Loans.
Documents and Verification Required
Capitec’s home loan page says you do not need any documents to apply, but you might be asked for documents at a later stage. Expect to supply:
- A signed offer to purchase.
- Your ID.
- Salary slips if you are permanently employed.
- Bank statements.
- If you are self-employed, stamped bank statements and annual financial statements. Confirm how many months of statements are needed.
How to Apply and Improve Approval Readiness
Capitec says you can apply online in 4 easy steps or visit your nearest branch. You can track your application online at any stage, and you get a dedicated property finance consultant. Capitec also says you could get up to 50% off bond attorney fees, and that you can finance the bond registration costs as part of the loan. Before you apply:
- Check your credit record and settle or dispute errors.
- Reduce short-term debt where you can.
- Use the affordability calculator to see what repayment fits your income.
- Gather the documents above so the assessment is not delayed.
Start from Capitec’s home loan page, which is also where to find the calculator.
Frequently Asked Questions
Does Capitec offer home loans?
Yes, in association with and funded by SA Home Loans.
Is there a Capitec home loan calculator?
Yes. Capitec’s home loan page offers an affordability calculator that gives a breakdown of the costs you need to prepare for, and a “see how much you could get” estimate. Use it, then confirm the figures with Capitec. We do not host a calculator on this page.
Do I need a deposit?
Capitec does not state a minimum deposit for a home to live in. Its FAQs say your deposit affects the rate, and that an investment property can be financed up to 80% of its value, which means a 20% deposit. You also need money for transfer fees and bond costs. Ask Capitec when you apply.
Do I have to be a Capitec client?
Capitec’s FAQs indicate you do not. Confirm with Capitec.
Can two people apply together?
Yes. Capitec’s FAQs refer to a joint home loan with a spouse or partner, and say it is preferable to give income details for both applicants, even if only one of you will pay the instalment.
Does being approved depend only on meeting the requirements?
No. The final offer depends on your risk profile, credit record and affordability, at the lender’s discretion.
What is the maximum Capitec home loan?
R5 million for permanently employed clients and R3.9 million for self-employed clients, according to Capitec’s FAQs.
Who can apply for a Capitec home loan?
Anyone aged 18 to 60 who is permanently employed or self-employed, has a good credit record and is not under debt counselling could qualify, according to Capitec’s FAQs. Foreign buyers have extra rules: the loan may not exceed 50% of the purchase price, and Reserve Bank consent is needed before the transaction is finalised.
Can I switch my existing home loan to Capitec?
Yes. Capitec says you can switch, and may get a lower interest rate and access to equity in your property. The application takes 5 to 10 minutes online and Capitec says it takes care of the paperwork.
Confirm the current requirements with Capitec Bank. See finance and funding requirements and compare loan requirements.