No Deposit Home Loans

Mortgage News: 100% home loans

Updated October 09: Note this information has been updated to reflect the homeloan options currently available in South Africa.

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Finding the money to pay a deposit has been a major hurdle for many first time buyers. An average property in South Africa may cost between R500 000 and R700 000. For most the challenge of saving up 5% or 10% of the purchase price of their first home is a mountain to steep to climb.

100% home loans helped to solve this problem. These mortgages allowed buyers to finance the full purchase price, paving the way to home ownership for many first time buyers.

After the credit crunch hit, SA lenders quickly removed 100% bonds. When these no deposit home loans are removed many potential buyers were forced out of the property market, which fueled a drop in house prices.

But South Africa’s banks have once again started to open their doors to 100% lending!

All the major banks are now offering 100% Bonds in one form or another. To secure a full 100% no deposit home loan you would need to either:

  • Have a strong credit rating with the various banks
  • or, Be purchasing a Bank Repossessed Property
  • or, Work for a company that offers Pension Supported Home Loans
  • or, Earn a total household income of LESS than R15,000 per month, to qualify for Lower-Income housing finance.

Extra Note:
There is a growing trend, among buyers who don’t fulfill above criteria, to secure their deposits using a credit card or personal loan. This is particularly true for clients who have very good debt-to-disposable income ratio.

If you’d like more information about 100% No Deposit Home Loans complete your contact details on this Short Form now, and a consultant will contact you.

Home Loan Tools:
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12 comments on “No Deposit Home Loans”

  1. hi,

    i recently visited my bank regarding a home loan, was turned down because they have picked up a judgement against my name which i knew nothing about.this judegment was from a cell fone contract which ive cancelled in 2008 and do not have the proof its been so long dont know where it is. ive been to court on the 19th 03 with my lawyer to get this off my name, but cell fone co wont budge they want proof.
    its my mother-in-laws house in durban which is fully paid for she has given it to my wife and i, all i need is a loan of about R10 000.for the transfer…..or a loan to pay off this judgement thing, thats bringing me down. please advise

  2. I am in process of purchasing a R452000 property.I don’t have a deposit and my net is R16447.Am a single parent.Do I qualify for 100 percent home loan?Would like to use FNB.

  3. Good Day.

    We are trying to apply for a loan for 2 open stands. My wife and my salary combined is round about R31250 we have no mayor debt and have checked on our credibility through Experion and everything looks fine.this will be the fourth time in 2 years that we are applying for a loan but the problem is the deposit, some of the banks offered a 75% and some of them 90% and all three houses we applied for were below R900 000. the stands we are applying for are R200 000 each and we are planning to start building as soon as we get the loan. with the salary we also have about 5 life insurance policies that will be more than enough to cover the outstanding amount should there happen anything to us, but still the bond originator we are dealing with now said that the banks will not give us more than 60% loan.

    please can you assist if there is a way to get either 100% or at least a 90% loan from the banks.

  4. Hi. Just want to know, we are in the process of applying for a bond at the moment. I have a judgement on my name and have paid it off etc and have a letter to prove.
    However, we are only getting 90% bond can you suggest a company that gives 100 percent bonds to people such as myself.

    • @Meggan Thanks for the enquiry.
      To qualify for a full 100% bond you will need to have a strong credit record.
      The fact that you have settled the judgement is good, but this would have affected you overall credit score.
      As a result it is likely that you will only get up to 90%, however – since the application process is free – we can approach the other banks and try to secure that 100 percent loan for you.
      Please complete this online application form.

  5. Hi, my fiance and I want to buy a property of R650 000. We will be married in two months time and don’t have a deposit. Will we qualify for a 100% home loan?


  6. Hi there can you give me some more information about 100% homeloans. My monthly income is R18500 pm im currently saving up for my wedding im 32 and have a very promising future ahead by my current company my current position im a operational superintendent im planning to study logistics next year if i do meet requirements for a 100% homeloane please e-mail me.Thanks

  7. This is rediculous. The banks acted reclessly in the past, and now WE are the ones that have to pay the price /deposit! I can get a R 900 000 loan for a R 1 000 000 home, but they won’t give me a R 750 000 loan for a house of that price! It’s high time those greedy bankers start taking the fall for their own reckless mistakes, and not pass it on to the hapless consumer!

  8. I would like to find out more regarding consolidating all debts to one account. something like your One account you advertise.

    We currently got a home loan with ABSA, some vehicle payment and credit cards. I would like to investigate to idea to through everything together to make the payments with the increasing iterest rate more afordable.

  9. Hi!!
    Kindly would you tell me if it would be possible for someone to qualify for a home loan in an estate case where the spouse has to find a sum of money to purchase her deceased husband’s home again. What would the procedure be and is it possible for her to use her home and policies that she is beneficiary for to assist her in qualifying for this home loan.


    Thanking you in advance.



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