Bond Origination Industry in South Africa

Home loans are used in the instances where an individual is seeking a way to finance the purchase of their own property or to enhance it. This can be a complicated process, but the complications can be eliminated if the proper procedures are followed. There are a few basic rules to be followed when you decide to purchase a property.

Online Bond Origination

You can be assisted in figuring out the amount you can afford to pay for the property by the lending institution. They are able to do this based on a calculation of your income and expenditures in relation to your take home pay. These calculations are also done based on your credit rating, the down payment, which is subtracted from the total value and the prevailing interest rate.

It is easy for you to scout around to find the most suitable home loans at the most suitable rate. This is made possible by www.mortgagepluscc.co.za who will cater to this need. Research is very important in finding what you need to know about home loans, institutions, rates, and whether or not you would qualify. Pre-qualifying tests as well as pre-approval for home loans are available both online and off. This can assist you in saving some money. You can negotiate to get better deals with the institutions.

You can choose an Home Loan Consultant, or do the legwork for yourself. If you choose an Consultant, then the process is simpler and they get paid based on the volume of their sales, so you would have no need to worry about paying them for their services. The lending institutions usually charge a processing fee as well as they need proof that the home was inspected by a professional who is qualified in that field. If the home loans are not repaid as per agreement there is a penalty charge associated, this is also true in the case where repayment is early.

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

Why do I need a mortgage originator?

Because your home purchase is probably, the most expensive one you will make in your life, the home loan itself is an important financial decision and the benefit to be gained from making a correct choice can amount to savings of hundreds of thousands of rands over the life of the loan.

Is choosing a home loan really that difficult?

All home loans differ from one another and each bank may evaluate your worth differently, so it is not as simple as shopping around for what appears to be the best rate in the market. Each bank has varying credit policies that cater for different claim circumstances. Mortgage Plus has knowledge of all banks’ products and will advise you on the type of loan that best suits you. They will negotiate with the banks on your behalf to get the best rate for that product.

I’ve heard that this service is free – how so?

Indeed, the service is free for the homebuyer. Mortgage Plus receives a fee from the bank for doing the groundwork on the loan and thereby reducing the bank’s costs. The bank is, by law, not allowed to add this cost to the amount of the loan, so you will not pay more than, if you approached the bank yourself.

Isn’t it easier to just get my home loan from my regular bank?

Your bank will encourage you to keep all your finances under one roof, so to speak – but at what cost? Because Mortgage Plus originates loans for all major banks, this offers you, the buyer choice and by being able to compare various products and rate offers, you get the best home loan deal in the end.

How do I know if I’m getting good advice?

The professionalism of the originator will quickly become evident, so make sure you are dealing with someone who can explain their recommendation clearly and are credible. Check their track record and only deal with an originator that is a member of the National Association of Mortgage Originators (NAMO).

Must I accept any of the packages they offer?

No – you have not entered into an agreement with the originator, other than to give them the information they need to get quotations from the banks. You still make the final decision whether or not to accept their offer.

Once I’ve accepted their recommendation, what happens?

Mortgage Plus will submit your applications together with the relevant documentation, such as copies of your ID and salary advice, to the bank agreed on and advise you once your loan has been approved. A good originator should also keep you informed all the way through to registration and liaise with the conveyancing attorney on the loan’s progress.

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