You may not need one right now, but it is time to begin saving for a deposit if you intend to buy a new home in the coming years. Comments from the heads of ABSA Home Loans & Nedbank Home Loans suggest that buyers will soon require a large deposit to qualify for a home loan.
The tips provided in this article are designed to assist your decision making. Consider these points carefully and you WILL advance into a life of financial freedom, by using the full investment potential available in your new property.
Insurance companies have introduced it, many other industries use it, why then haven’t our local banks introduced a refund or bonus system into their home loan products? The idea is quite simple really, if it costs a lot of time and money to repossess a property why not incentivize your clients to maintain their bond accounts.
A common question among many South African homeowners is whether saving money into their bonds to pay it off quicker is better than investing in a high-interest savings account.
The question of qualifying for a bond is one that most buyers ask. Let’s explore the factors that determine how much homeloan you’ll qualify for. 1. Your Income 3. Loan Term 2. Interest Rates 4. The Banks’ lending policy Monthly Income As you may expect your monthly income is the single most Read more…