Bond Originators and Mortgage Experts
South Africa's Leading Bond Originator and Mortgage Expert Blog !
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Our Mortgage Experts Specialises in First Time Home Buyer Loans, New Home Loans, Building Loans, Further Home Loans, Bond Switches and Mortgages throughout South Africa. Click Here to go to The Mortgage Plus Website.
We offer a wide range of advice on different home loan options - 0861 11 11 93*
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MORTGAGE BONDS from Mortgage Plus (011)327-4489
There are so many types of mortgage bonds which are currently available that it can be an often confusing and intimidating task when wanting to take out a mortgage bond which will be most ideal for you. This is where Mortgage Plus can help. With their in-depth knowledge in the mortgage bonds available and what each option entails, this mortgage bond originator is able to guide the prospective of a mortgage bond to eventually decide upon the best option which will match their needs and requirements.
These numerous types of mortgage bonds which are available from the major banks in South Africa such as ABSA, Nedbank, FNB, and Standard Bank, include a few of the options as listed below:
First time buyers Home Loan: This is a special mortgage bond option in that it is ideal for those who have never owned a property or taken out a home loan. With this mortgage bond, the banks will lend you more than 100% of the property value, enabling you to include the transfer and registration costs into the mortgage bond; and hereby making it easier for you to enter into the property market. No deposit is required with this option.
(for the right purchaser)
A Variable Home Loan: Given at the negotiated interest rate, this mortgage bond option is the traditional home loan optional. Home Loan rates are always negotiable, and are generally affected by the amount of the loan taken out. The smaller the loan, the less chance you have of getting below the prime lending rate. With this type of home loan, if the interest rates increases by 1 percent, your home loan rate will increase accordingly. If the interest rate drops, so will your home loan rate.
Fixed Home Loan Rate: With this type of home loan, your interest rate is fixed for a period of time; for one or two years on average. When considering this mortgage bond option do keep in mind that the interest will be slightly higher than the current loan rate. The beneficial advantage of this option is that it offers you protection from rising interest rates, so for that period of time you know what your bond repayments are. The only downside is that if the interest rates drop, your home loan rate will stay unchanged, resulting in you having to fork out more money at the end of the day.
Capped Home Loan Rate: With this type of Home Loan, you will never pay more than the capped rate, as your interest rate is capped at a maximum rate of interest for a period of time. And if the interest rates increase, you will never pay more than the capped rate you have negotiated. The outstanding pleasure which comes along with picking this option is that you will reap the benefits in the case that rates decrease.
Please do take note that this type of mortgage bond is not so readily available, and there is certain criteria required before your designated bank will approve your application.
For more information on these mortgage bonds and other options, speak to one of Mortgage Plus Mortgage Bond Originators and they will give you details and advise to set you on your way to taking out a mortgage bond you can ultimately afford and will enjoy in the long run.
Quick Mortgage Bond Application Online
Mortgage Plus has a facility online which allows prospective clients of mortgage bonds to apply quickly. Essentially this innovative service of Mortgage Plus has been well-accepted as it saves time and takes away the frustration which would usually come along with making an application for a mortgage bond.
This is a free service, making another reason for the popularity of applying for a mortgage bond online.
So what are waiting for? Mortgage Plus is willing and able to help you get the best mortgage bond you can at the lowest possible rates.
With Mortgage Plus there are no surprises.
Get in contact with Mortgage Plus today and experience the joy of having a mortgage bond expert on your side.
Mortgage Plus : knows the business of mortgage bonds.
CONTACT US
Speak to a home loan consultant about financing your new property or reviewing your existing mortgage. We are able to assist in lowering your bond repayments and securing attorney discounts.
Complete this short form online
Call us on 011.327.4489
Email: morne@mortgagepluscc.co.za
www.mortgagepluscc.co.za
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Looking for the Best Mortgage Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage–whether it’s a home purchase, a refinancing, or a home equity loan–is a product, just like a car, so the price and terms may be negotiable. You’ll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of rands. Obtain Information From Several Lenders Home loans are available from several commercial banks and mortgage companies. Different lenders may quote you different prices, so you should contact several lenders to make sure you’re getting the best price. You can also get a home loan through a mortgage broker. Brokers arrange transactions rather than lending money directly; in other words, they find a lender for you. A broker’s access to several lenders can mean a wider selection of loan products and terms from which you can choose. Brokers will generally contact several lenders regarding your application.
Ask for information about the same loan amount, loan term, and type of loan so that you can compare the information. The following information is important to get from each lender and broker: Rates
Fees A home loan often involves many fees, such as initiation fees, registration fees, cancellation fees etc Every broker should be able to give you an estimate of fees. Many of these fees are negotiable. Some fees are paid when you apply for a loan (such as initiation fees), and others are paid at closing. In some cases, you can borrow the money needed to pay these fees, but doing so will increase your loan amount and total costs. “No cost” loans are sometimes available, but they usually involve higher rates.
Deposit and Mortgage Insurance Some lenders require up to 20 percent of the home’s purchase price as a deposit. However, many lenders now offer loans that require less than 20 percent down–sometimes as little as 10 percent on conventional loans.
If Mortgage Insurance is required for your loan,
For Mortgages OR refinancing, click here for a No-Obligation Quote , you will have to fill out a short application form. You will then receive a FREE quote from well established, nationally recognized lenders. You do not need to decide now whether the loan is for you. www.mortgagepluscc.co.za
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