How to start looking for your home

The first step would be to determine what you need and in which area you would like to purchase a home.

Browse through weekly property advertising supplements and other methods of property advertising, such as the Internet, in order to get a good idea of the homes available and the current asking prices in various areas. Drive around areas of your choice to look for properties with “For Sale” signs. Consider the proximity to your place of work, schools, shopping centres, medical facilities, police station, post office, your bank, public transport and other amenities that are important to you.

Speak to friends and relatives about the area or make contact with people living in the chosen area. Find out about issues such as transport, schools and crime or security.

Visit local estate agents and ask about the profile of the suburb, average cost of houses in the area and the future potential of the suburb from an investment point of view.

House hunting can be an exhausting experience. Most of your efforts in homeownership go into this phase, but remember, a well-chosen home is your path to an enjoyable and rewarding homeownership experience.

Remember

Choosing a home is your and your family’s choice alone. Don’t yield to pressure from anyone to purchase a home quickly. You are going to live in your home for a long time, so don’t rush your decision.

Do your calculations and determine up front what you can afford – this way you will also not be disappointed if you find the home of your dreams only to discover that you can’t afford it. Be sure that you only deal with reputable estate agents who are registered members of the Estate Agency Affairs Board. As protection against fraud, you can ask the estate agent for his/her ‘Fidelity Certificate’ as proof.

Remember by choosing us for a loan, you will get professional advice to make sure you are getting the best deal possible.

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

When you purchase a home, there is always mortgage attached to it. It is the mortgage that actually pays off the house, and it is the mortgage that you are paying for in actuality and not the home you are living in.

Of course, if you are unable to pay off your mortgage, then you can be sure your house will be foreclosed by your mortgagor and be sold off to regain the money they spent in buying the house for you. Most mortgages run for a very long time and can be very critical to one’s financial well-being.

For one, mortgages take so long a time that the owners of home are also forced to limit their expenses as well as their leisure just to make sure that they meet their monthly payments. That can be good, but for a prolonged period of time, it does take a toll on every person. No one deserves to be denied of their hard-earned earnings that way, with some having only enough left to satisfy the cost of living. There should be a way for someone to finish his mortgage payments earlier.

Refinance Your Debt

Most mortgages run for terms as long as twenty to thirty years, with very high interest rates as well. Life can be hell for the mortgagee for that span of time, and twenty years is a very long time at the least.

Nowadays, however, newer mortgages can be had for lower interest rates as well as shorter time periods. You can do that through mortgage refinancing.

Mortgage refinancing is merely restructuring your debt in order to attain shorter time or lower interest rates. Lower interest rates are now possible because of tight economical conditions as a result of the mortgage crisis and also because creditors are so many that the competition has become tight. If you have signed up for a very long mortgage period and has spent some years paying off your house, you might as well start thinking about refinancing your mortgage.

What Happens When You Refinance?

Once you tap the services of a mortgage refinancing firm, your new mortgagor will then pay off your existing mortgage with a new note. This means that, in the eyes of your old lender, you have paid off your mortgage.

However, you now owe your new mortgagor money. The new mortgage will be according to terms of your own choosing, so if you have experienced an increase in income and are confident of higher terms, then you may want to start thinking about refinancing your current mortgage. If you are enjoying increased disposable money due to increases in income, why not use them to shorten your mortgage terms and be debt-free?

Another one of the effects that you will experience with mortgage refinancing is improved credit score over the next few years. In addition, you get to shorten the payment period and thus pay off your house quicker than you would have with your terms of your old loan.

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