Buying a house for the first time and getting a mortgage

As everyone from Johannesburg to Cape Town knows, things are tough in this economy. But that doesn’t mean you can’t accomplish your dream of owning your own home. You just have to take the time to explore what options you have and get the best deal that you can. If you arm yourself with a little information, you can go into the home buying situation with a solid footing and not be taken for a ride by banks trying to make a profit off of you.

Getting your first home loan is not easy. You have to have fairly solid credit, a decent income and not be burdened with bills. But there are things you can do to make your search for a loan easier, and have better chances of getting approved.

The first thing you want to do is shop around for something you like. That doesn’t necessarily mean your dream home, but something you can afford. Very often a first time home buyer will go for something that they can easily afford to start off with, because the mortgage is easier to maintain and they can use the home as collateral for future home purchases. Still, you are going to have to live in the place for a few years, so make sure that you will be at least reasonably comfortable. Stay away from cheap “fix me uppers,” because they usually end up being very not cheap. The only time such a home is even remotely worth investing in is if you yourself are capable of repairing it. That way you can put more time than money into the restoration process.

Be careful about choosing a place in a rough part of town. While you can usually get lower prices for a home there, this is usually because the property values are lower in run-down areas. So you may get your first home cheap, but wait until you try to sell it. Then you’ll see why you got such a bargain when you bought the place. You cannot get something for nothing. Now, if you really intend to live in the house for a very long time and you don’t mind living in the rundown side of town, you may find this option a bargain. Otherwise, look elsewhere.

It is always useful to contact several real estate agents and see what they have in their inventory. Often they know of people who are trying to get out of their homes fairly quickly. Maybe they took a job in another region or they suddenly found themselves in financial trouble and they can’t afford to live in their existing home. This is the kind of sale that you will probably not get wind of in newspapers and other sources. This is how real estate agents make their living, knowing the who, what and how of the people buying and selling homes.

But the most important thing is to take a good look at your financial situation and determine how much you can spend. After all, a mortgage is something you will be paying on for a long time. Make sure you know what you’re getting into.

For further information contact Morne Prinsloo on 011 327 4489 or email morne@mortgagepluscc.co.za

If you would like to know more about your home loan services and mortgage requirements please phone the Mortgage Plus Head Office on:

Attached please find the Home Loan Application Form * - Short Home Loan Application Form

0861.11.11.93

info@mortgagepluscc.co.za

www.mortgagepluscc.co.za

Home Loans available throughout South Africa

No matter where you are located in South Africa, whether it is in Johannesburg, Cape Town, Pretoria, Durban, or elsewhere; we will find you the best Home Loan available.  We do this through comparing home loan products between the financial institutions.  We consequently become a specialist in the field of home loans, building loans, further loans, bond switches and commercial loans with more and more people in South Africa coming to us for our expertly reliable home loan assistance services. It should be noted that Mortgage Plus is not a bank or an estate agency but is a bond originator who will assist you by starting the bond application process on your behalf.

Online home loans through Mortgage Plus

Why visit banks and waste time when you can use the internet to find the best Home Loan right at your fingertips?

Whether you have time during your work schedule, or need to search for the best Home Loans Online at home, we are here. With a presence on the web to provide our users with the best and latest information possible for example new regulations when it comes to bond originators as well as home finance and interest rates that may affect your decision when looking at a specific Home Loan and comparing it to others. This may also affect the bank that is chose, whether it be ABSA Home Loans, Standard Bank Home Loans, Nedbank Home Loan, First National Bank home loans or a variety of others.

We are experts when it comes to home loan finance in South Africa and have specialists standing by, just for this very purpose.

Mortgage Plus will find the right deal for you. Guaranteed!

Please Note:

We have a Personal Loan product that we specifically structures for Property Buyers who wants to buy residential properties but do not have a cash deposit or transfer cost for the property they are buying. “This Product is exclusively available to clients that apply for a new home loan through Mortgage Plus Bond Originators”

Mortgage Plus Home Loan Calculators :

Affordability Calculator, Bond Status Calculator, Increased Instalments Calculator , Minimum Income Calculator , Monthly Payments Calculator

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