1. How do I know if my loan will be approved?
Every loan will be evaluated on its merit, but if you meet our basic requirements, then it is very unlikely that your application will be declined.

2. How does your Cash Back Guarantee works?
We will pay you cash, if we get your loan approved, subject to our terms and conditions.

3. Are you really that good? How can I trust you?
Do not take our word for it…See how much our service has been worth in hard rands and cents to our customer. Click here for more.

4. But, what about your customer service?
Yet again, we will not blow our own horn. This is what our clients have to say…Click here for comments

5. What will happen after you’ve got business? Will I be left out in the cold?
Yes, unfortunately you will…..unless of course you make use of our services. We know that customer service is not big in South Africa , but for us it is a BIG THING!

6. Do I have to be a home owner to qualify for a debt consolidation loan?
Unfortunately you have to be a homeowner if you want to qualify for a debt consolidation loan in excess of R50,000. We do not make the rules, that is just how the system works

7. What if I am not a homeowner?
For more information on how to reduce your debt go to: www.nca.co.za

8. I am currently in arrears with my bond, can you still help me?
Unfortunately, the moment you are in arrears with your bond a hold or stop is placed on the bond and, therefore, no further credit can be extended to you.

9. My bond was in arrears but is now up to date, can you help me?
Yes we can, if you have kept up your commitment for the last 6 months you can apply.

10. I want to buy a house, but I don’t have a deposit, can you help me?
Yes we can. We will look at your income and work out what amount you can afford. You will find a house you like and we will help you to apply for a 104% bond. This means, the full purchase price plus all the costs involved will be covered with the bond.

11. Can I qualify for a mortgage even though I had credit problems in the past?
Yes, you can qualify – because bad credit in the past meant that you fixed whatever it was that became a financial problem for you. This shows character to a lender. If this debt has been settled, proof of this will be submitted to the bank with a full motivation.

To apply for your Home Loan – Click Here 

011 327 – 4489 morne@mortgagepluscc.co.za

INTRODUCTION:
A first-time home buyer is someone, looking to purchase their first property or home. But before you’re able to purchase your first home you’ll need to secure a home loan.

In many cases a monthly installment on a home loan is more or less the same as a rental payment on a lease contract. The only exception is the transfer duty fees which is payable upon registration of your bond “ although this may even be included in your bond amount.

So, you’ve decided to purchase your first home and all you need now is the finance.

You’ll want to remember that as a first time home buyer there are a number of special criteria which you’ll need to fulfill if you wish to qualify for home loan finance.

One of the most important factors to consider is what size bond you can qualify for.
Often this is about 25-30% of your joint salary, meaning that if you and your partner apply for the home loan jointly you could be approved for a larger loan.

KEY FACTORS for your home loan application:
The minimum home loan amounts offered by most banks in South Africa usually vary between R100 000 and R150 000.

Upon the application for your home loan the bank will consider the Loan-to-Value ratio (LTV) , which is the ratio between the home loan amount you’re applying for and the value of your property.

For example, Mrs. A. has R100 000 available as a deposit for a property which is valued at R500 000, she therefore only needs to apply for a R400 000 loan, the LTV is therefore 80%.

The reason this is so important when applying for a home loan is because the LTV percentage forms part of the interest rate calculation on your loan amount.

The lower the LTV percentage – the lower the interest rate will be on your mortgage.

Remember that as a first time home buyer you might not have a deposit available for your new home, therefore many banks provide LTV percentages of up to 108%. Meaning you can get a loan which covers the full value of the home and all costs included.

The maximum loan term offered by all banks is twenty years, and some banks require a life policy to be ceded to them. It is important to clarify this with your bank immediately.

REQUIREMENTS:
The general requirements of applying for your first home loan are the basic details of your monthly salary, your credit history and the offer to purchase.

The following criteria will need to be passed to qualify for a home loan

1) You’ll have to be 21 years or older
2) Six months permanently employed or at least self-employed for two years
3) The minimum salary requirements can vary between R8,000 and R10,000/pm joint or single income.
4) You’ll need to have a credit clear history, i.e no judgments or defaults.
5) Some banks may require SA citizenship.

Make sure you have all the following documents available.

1) Copy of ID,
2) If you’re full-time employed, 3 months bank statements.
3) Offer to purchase, which is the written agreement between the seller and the buyer on the purchase price of the property.
Sectional Titles must submit most recent body corporation financials.
4) Most recent payslip, although commission earners will need to submit 6months payslips.
5) If you’re a self employed business owner,
- 6 months business accounts statements
- 6 months personal bank statements
- a letter from auditor or accountant stating monthly income.

To apply for your Loan – Click Here

or call us on 011 327 4489