Home Loans and Mortgage Originators

The role of Mortgage Originators in Home Loan finance

IBO : Independent Bond Originators

Whether you’re looking to finance a new home, need a second bond or you want to consolidate your high interest debit into your current home loan Mortgage Originators will dramatically speed up the home loan process and reduces the amount of effort needed to get you mortgage finance.

Mortgage Originators have been around for over five years and they’re definitely here to say. Currently, about 60 percent of all bond applications pass through mortgage originators.

South African Mortgage Originators

IBO – Independent Bond Originators Visit Website
Goulburn Mortgage Originators Visit Website

What is their role?
Mortgage Originators such as, IBO HOME LOANS, will submit your bond application to banks and obtain all the information and documents each bank requires to approve the home loan.

Their role is to help you secure the home loan product which best suits your needs. They will usually approach a number of different banks at the same time to improve you chances of success and to secure the best interest rate.

Generally, MOs (Mortgage Originators), will submit your application to the four largest SA home loan providers:
1. FNB Home Loans
2. ABSA Home Loans
3. Standard Bank Home Loans
4. Nedbank Home Loans
Occasionally, this list will also include Standard Chartered Bank.

Getting the best deal
Most banks offer the same basic deals, but this is where your MO can play a huge role. If the originator is aware of each banks lending policies they will be able to give you important advice on which products would best suit your individual needs.

Click here to get free advice from a home loan consultant.

Important issues:
The size of the loan and the interest rate concession are the two most important issues but they are most definitely not the only aspects one should consider.

Most Banks offer extra benefits and products with their home loans; such as cheap life insurance or a credit card account.

Costs: It’s all for FREE
The service a Mortgage Originator offers is completely free. They are paid by the Bank for each successful application.

Need some FREE SA Home Loans Assistance?
Visit IBO HOME LOANS now. Fill in your contact details and a consultant will contact you immediately.

Also See:
Home Loans Advice
SA Home Loans News

1 comment on “Home Loans and Mortgage Originators”

  1. I need to do a home loan switch. I’ve had bad debt listing which has been actually paid up. I currfently have a bond which is paid very well and currently about R15000.00 in advance with payments. Is possible for me to switch? Thanks.

    REPLY:

    Hi Smanga,

    This is in response to your query about switching your home loan. You mentioned that you had a bad debt listing but that your bond is currently very well paid and in advance.

    With regards to the bad debt listing – if that listing has been removed and your credit rating does not reflex any judgments you need not worry.
    If you’re interested in checking your credit rating visit Credit Health Services
    Remember, even though you bad debt may now actually be paid up, that judgment might still be reflexing, therefore it is important check your credit rating.

    Otherwise, you are entitled to switch your home loan for a lower rate if you so wish. Most banks are willing to switch your bond if you can prove that your debts are paid up.
    For more assistance with the bond switch visit IBO HOME LOANS. Complete the short form on their website and a home loan consultant will contact you immediately.

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