Mortgage Origination | Home Loan Finance Experts

The purpose of Mortgage Plus, as a mortgage originator, is to assist you with the application process for your home loan to one or more of the Financial Institutions giving you peace of mind and saving you time. The services extended to you by Mortgage Plus are free of charge and we pride ourselves in being your ‘one-stop’ financial services partner. We receive a fee from the bank as we in essence handle the application process on their behalf.
I would like to invite you to visit our website at www.mortgagepluscc.co.za to obtain more information on matters relating to your mortgage such as the calculators that can assist you to calculate the different costs relating to registration of your bond and property.

18 reasons why homebuyers should use Mortgage Plus Bond Originators (0861 1111 93)

1. Secure approvals: better chance of approval by submitting to multiple lenders
2. Get the system to work for you: take advantage of the fact that each bank has different credit criteria, deposit requirements, documentation requirements, interest rates and turn-around times
3. Expert positioning: prepare, motivate, and package the application for the best chance of approval
4. Best interest rates: banks compete for every loan application ensuring the best deal for you
5. Simultaneous submission: direct interface to lenders systems allowing simultaneous submission of applications to multiple lenders
6. No cost: it is a free service to the homebuyer
7. No obligation: no obligation to accept any loan sourced
8. Expertise: home finance experts have intimate knowledge of the various banks’ products, credit criteria, documentation requirements, and interest rates
9. Problem escalation: dedicated senior personnel escalate any problem applications ensuring a better chance of approval
10. Hassle free: one generic application form for all lenders
11. Cost savings: advice on the best way to structure the loan to reduce the total cost
12. Convenient: originator helps you complete the application form and do all the legwork for you
13. Faster approvals: dedicated personnel guide the application quickly through the bank’s approval process, actively chasing up progress
14. Independent advice: most appropriate home loan options from all lenders
15. Dedicated communication: one point of regular feedback on the application status for all lenders
16. Best service: professional and personalised service face-to-face, telephonic, or online
17. Commitment: home finance experts are committed to securing your loan
18. Homebuyers all agree: over 70% of all new home loans are secured using mortgage originators

AT MORTGAGE PLUS WE ARE GEARED TO CONTINUE OUR EXCELLENT WORKING RELATIONSHIPS WITH OUR CLIENTS AND THE BANKS COULD ASSIST AND ENHANCE THIS VERY IMPORTANT INVESTMENT CHOICE ANY CLIENT WOULD MAKE IN HIS LIFETIME!

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

Work on your credit score
Your credit history is one of the first things that the lending institutions look at when they review your home loan application. It clearly outlines a person’s financial and credit performances in the past which holds a serious weighting as to whether or not you qualify for a loan, the amount you qualify for and the interest rate you stand to pay.
You are entitled to apply for a credit report on yourself every year from the government credit bureau, free of charge. You should carefully analyse your report before applying for your home loan so that you can take steps to improve it wherever you can. Be on the lookout for incorrect records and if there are any mistakes, write to the credit bureau in question, explaining what needs to be changed and why. Remember to send your requests through with all the necessary supporting documentation wherever necessary.

Calculate affordability
Credit providers have to perform an affordability assessment before granting credit. This process takes into account all your financial obligations, such as home loans, vehicle finance, overdrafts, credit cards, secured loans, and domestic expenditure, which are compared to the value of your assets and income in order to calculate your current financial standing. You should do your own assessment by using one of the many affordability calculators on the Mortgage Plus website. Here, you can input all your current monthly payments, debts and other expenses in order to calculate what size home loan you can afford. This is a very good exercise, as it will show you what you could possibly cut back on in order to qualify for a higher loan.
However, you need to remember that the mortgage repayment is not the only thing you need to factor in with regards to affordability. Owning a home involves various additional expenses, such as paying rates and taxes, electricity and water bills, homeowners insurance, sufficient life cover on your mortgage, as well as the cost of maintaining your property. It would also be prudent to factor in headroom for any potential interest rate hikes – you should be able to cope with a minimum of a 2% increase over the next 12 to 18 months.
Any lender needs to determine that you have had a stable income for at least two years. As such, self-employed individuals or commission earners will need to prove this aspect of their income before a home loan will be granted.

Save, save and save some more
It is essential that you improve your disposable income by as much as you can, as credit lenders will take this into account when they calculate the size of home loan you qualify for. For every R1 300 you can save on your monthly financial obligations, you will be able to increase your home loan spending power by a full R100 000. Also, being able to save a big deposit of around 20% to 30% offers the lenders assurance that you are working towards a good credit rating and that you have the financial means to meet future obligations relating to the loan. The bottom line is that the more money you have saved to put towards buying your home, the better chance you will have for being approved for a home loan.

Work with a home loan originator
In order for you application to go through smoothly, you should get all the required documentation ready beforehand. Applying for your home loan with the help of a mortgage originator instead of taking the DIY approach will greatly improve your chances of success. Mortgage originators are professionals who understand the various procedures of the different banks. They know which paperwork to submit to motivate your application, they can help negotiate the best possible interest rates and they will help you through the entire process until your home loan is finally registered. The best part is that this service is free of charge for the homebuyer.

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