Looking For The Best Mortgages in South Africa?

There are very few people who can afford to buy a home outright and this is why home loans are so important. If you are considering purchasing a property you will need to ensure that you understand what homes loans are and the steps you need to take to ensure that you get the best possible deal when applying for one of them.

The Size of your Home Loan

Before you start searching for homes in your area you will need to see what type of loan you are eligible for. Banks will usually approve you for a loan by taking 30% of your income into account in order to determine whether your salary is large enough to accommodate the repayments on the loan. The larger this income is, the more you will be eligible for. If you want to apply for a larger loan, you can always apply with your partner’s income for a joint loan.

Putting down a Deposit

When applying for home loans you will need to decide what type of loan you are going to apply for and whether you are going to put down a deposit. Banks in South Africa are now offering 100% loans which means there is no deposit required but you will probably be expected to pay a higher interest rate if you decide to choose this option.

What is a Loan Term?

A loan term is the period during which you will pay off the loan. The loan term will affect the interest you pay on your loan and it will determine the rate at which you will be expected to pay the loan off. The longer the loan term is, the lower your monthly premiums will be but you must remember that most banks will give you a maximum term of 30 years and even then you might need to apply for a life policy.

Choosing your Property

Once you have an idea concerning the amount you are eligible for you can then begin searching for your dream home. The location of this home should be carefully considered and you will need to take a few factors into account before you set your sights on a property, including the location of schools in the area, whether the property is close to your work and whether the location is safe and secure.

What do you need to apply for a Loan?

In order to apply for home loans you need to ensure that you meet all of the requirements as these can be quite strict. When applying for a loan you will need to be at least 21 years old, permanently employed for 6 months (or self employed for at least 2 years) and have a clean credit history. If you meet all of these criteria you will then need to be aware of the documents that will have to be submitted when you apply for the loan.

Bond Originator Lending a Helping Hand

Applying for a home loan can be a lengthy and difficult process but you can make this entire experience a simple and enjoyable one by contacting a bond originator that will help you through it. Bond originators will not only help you choose the right bond but they will also assist you in getting all of the correct paperwork in order to ensure that your application is submitted and approved without a delay.

Please contact us if you require any further information or would like to apply for finance:

Complete this short form online

011.327.4489 / 0861 1111 93

morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za

Bond Originators

The term bond originators has more than likely appeared time and time again in conjunction with the term mortgage brokers but who they are and what they can do might still be unclear. bond originators act as personal consultants when it comes to getting loans. Their job is to keep you advised during each stage of getting a loan so that you incur interest rates which are the most lucrative. They are responsible for keeping track of each of the deals which enables you as the client to maintain the best deal from the beginning stages of applying for loans all the way to the stages of procuring the loan. Overall, the position of bond originators is to ensure that you feel at ease when applying for and receiving your loan. One of the major roles of bond originators is to ensure that you are met with the most lucrative loan option which also provides the best interest rates. Without a thorough knowledge of the ins and outs of the banking sector, grabbing the right opportunities will not be easy. This is where the bond originators come in to play.

They mentor you instead of just doing the work for you. This means that not only do you get the best the business world has to offer, but that you also learn about the ways of the banking sector at the same time. Mentoring each of their clients, the bond originators alert you when you begin to head off track and direct you where you should be going, but in the end allow you to make the final decision. You are not charged for their work, but rather, they receive a commission from the bank which they recommend. As experts in the banking field, bond originators offering free loan advice puts you in the best possible position and allows you to make the final decision appropriate to your needs. The benefits of using bond originators include the fact that it is free. By ensuring that you get the best deal, you are saved thousands of Rands. Instead of visiting the bank when you want to apply for a home loan, you can get quick results by allowing them to visit the banks for you on a regular basis, also taking care of any follow ups for you.

Having them on your side means they will pressure the banks for you. Their expert advice makes sure that you understand each of the available products and what deals of the products offers. Lastly among the benefits of using bond originators is the lack of paperwork. They handle the paperwork for you making it easy. By securing the finances necessary to purchase a property, they simultaneously submit your application to lenders such as FNB, Standard Bank, ABSA, and NEDBANK. Overall, they are there to cut down the time and the money spent trying to secure home loans. You can receive a quick assessment of your qualifications and which banks are likely to offer you home loans with which to purchase your property.

Please contact us if you require any further information or would like to apply for finance:

Complete this short form online

011.327.4489 / 0861 1111 93

morne@mortgagepluscc.co.za

www.mortgagepluscc.co.za