You should always shop around when looking for a loan. You are in a better position to negotiate than you might think, no matter what your financial situation. A fixed rate bond is usually considered to be the safest and securest type of loan. Mortgage loans tend to offer you several options such as adjustable rates, as well as interest only loans. You should check out all your options before locking in on any type of loan.

Negotiating your loan can save you thousands of Rands. Home loans can be sought out through several different lender types. Credit unions, commercial banks, thrift institutions, and mortgage companies will all offer home loans and each will have their advantages.

Your credit history and your financial situation are supposed to be the foundation for which your loan rates are decided so why do you receive so many different quotes. Each institution “Bank” will have offers for you and with each there will be differences. You should contact several types of lenders for quotes to negotiate the best deal.

You can contact a mortgage broker to find quotes from the many different places for you.

Make sure you ask all the right questions. Find out what type of down payment you are expected to pay. Ask what the closing costs will be. Find out what type of loan you are being offered?

You should find out if the rate you are being quoted is the lowest for that day or week or if you are being given a higher rate and if so find out why. Make sure you know if the loan is fixed or adjustable. If they cannot offer you a fixed rate with their lowest possible rate then move on to the next lender. Chances are if you know what you want ahead of time you can tell them what you expect and even if they say they cannot deliver when you move on you will most likely get a call later in the week with good news.

Keep in mind the lender is not doing you a favor by giving you the bond, you are giving them your business and you should make sure they are the best ones to handle it.

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

Owning a home is not that easy, that is why we have mortgages to help us pay for it in easier instalments. But what you do not realize is that owning a business in mortgage is also a tough one, so it is not always easy to get one. Borrowing money is such a risky business and not all people are given the privilege.

Picture this scenario in your head. You just got married, and you are now imagining the house of your dreams. You visualize it and eventually make your plans into reality. You then proceed to check out as many mortgage companies as you can, and you all see the same thing on their brochures or websites–the happy faces of families together in a beautiful house. You begin to imagine yourself in the exact situation. You smile as you think about it, only to realize later on that the loan officer rejected your application.

Have you been through this circumstance several times already? Then I think it is time to break the vicious cycle and get yourself approved for a house loan! But before you achieve that goal, there are certain things you need to do in order to lead yourself into that direction.

One of the first things that you need to take a look at is your income. Most companies require a certain amount of salary before you can be approved. If your salary has reached the minimum amount, then you have no problems with this part. If it is not enough, or if it is too far from the minimum, do not lose hope. There is still one way.

You can try to get a co-signer if your monthly salary is too little for the required amount. Just make sure that the person you choose has reached the required minimum monthly salary. The co-signer brings in a feeling of assurance and trust between you and the company. It compensates for your lack of income and it suggests that you can still pay the loaned amount even if you do not have enough salary.

If you think getting a co-signer is the only way for you to be approved, you may do so, but make sure that you and your co-signer has completely agreed on the terms and conditions of the mortgage. This is to avoid any misunderstandings in the future. And don’t forget to ask your co-signer for his or her credit score. Most companies are going to ask for that.

You may also want to check out other companies who can offer you better deals. Business involving mortgages is quite common these days, so you won’t be having a problem looking for other options. You do not have to settle for one right away; try to compare each one in terms of fees, charges, services, features, and deals. This is especially helpful if you are trying to find the most affordable deal possible.

Getting rejected for a mortgage or house loan can be quite frustrating, especially if you have experienced it more than once already. But with these tips, getting approved for mortgages could be the next thing that could happen to 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

www.mortgagepluscc.co.za