Should You Choose a Mortgage Originator or the Banks?

So often when you need a home loan, you also need somebody who can truly guide you through the process. You are embarking upon a big undertaking and your emotions are already going through way too much. A good Mortgage Originator recognizes all that is happening for you, and can be the guide that takes you from the beginning of the lending path all the way through to the end. And he is normally the one that can make the process as painless as possible.

Mortgage Originator’s works to represent you to a varied group of lenders or banks in South Africa. An essential role when you think about it. It is like having your own personal representative, there to tell the lender why you are a good risk. That is such an essential part of the Mortgage Originator (Mortgage Broker’s) job that it cannot be overstressed. However, he is also getting all the essential information from you, preparing the presentation for the potential lender / Bank, and keeping you calm and in control.

The lender / banks, on the other hand, is also helpful, but he may not be able to provide you with the variety of solutions and options that the Mortgage Originator can. He can only represent his institution. This will be a fine solution for you if you already know what institution you wish to have your loan with and that you fit their specific criteria. In these financial times, you may find that this narrow path is simply not going to work for you.

In these uncertain financial times that so many South Africans have watched unfold, the role of the Mortgage Originator’s becomes even more essential to the average South African than ever before. This is because the Mortgage Originator has a very important advantage over the lender / bank.

He represents many different lenders and banks, and has access to a much larger selection of home loan products to choose from as a result.

All the more reason why so many South Africans are seeking the services of the mortgage broker / Mortgage Originator over the lender.

Keep in mind when you are trying to choose. The most essential item is your ability to get a home loan. Talk to a Mortgage Originator and talk to a lender.

You will know which one is best for you.

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

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What Every First Time Homeowner Should Know About Home Loans in South Africa

For many first time homeowners, finding a property that meets your needs is something that may take months to achieve. Whether you are searching for a compact family home that offers the perfect place for your children to grow up in, or a new apartment in the city, the search for a property that is in the right area, at the right price, with the right

features is no easy task. In the same way, finding the right partner for home loans in South Africa should also not be something that is done in haste.

Choosing a home financing provider without understanding exactly how the process works can cost you a fortune in hidden fees, high interest rate and unrealistic payment terms. Instead, take the time to find a financing partner who understands your specific needs, who will be able to work with you each step of the way as your financing needs change.

Some of the factors regarding home loans within South Africa include:

• Interest rates – these will change over time, but to begin with you should be getting a competitive interest rate that will not break the bank. Fixed interest rates are set at the same amount over time, while variable interest rates change as your financial needs change.
• Payment terms – depending on your budget and needs, payment terms can be selected over anything from ten to 20 years. This will allow you to afford your new home without falling into serious debt, with payment plans spread out over time to ensure that you can easily make your monthly payments.
• Loan qualification – you will qualify for different sized home loans depending on your income. Couples are able to combine income, while singles have a sole income that may affect whether they qualify for a larger loan. In this way, your financial needs are carefully considered to ensure that you do not risk serious debt.
• Additional costs – it is always a good idea to find out exactly what costs you may incur for your home loan. Some providers charge an early payment penalty for homeowners who pay off their loans before the prescribed date. Others may charge late payment penalties too. Don’t be afraid to ask about all potential costs before choosing your home financing partner.

Best Tips for First Time Buyer Home Loans

While it can be a hugely stressful step to purchase your first home, do not let the daunting process deter you from achieving your dreams of home ownership. To be prepared, make sure that you have all documentation ready so that you will be able to begin the process as soon as you have found your ideal homeloan partner. Set a budget, and do not be tempted to purchase property that is not within your budget – the most effective way to ensure that you are able to finance your home is to choose property that you can realistically afford to purchase. – affordability-calculator

Mortgage Plus Home Loans makes the process as pain-free and simple, with a wide range of loan plans that suit every budget and specific needs. This allows you to focus on the excitement of finding your dream home, along with all the plans that you have to make it your own.

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