Home Loans News: ABSA Home Loans
ABSA home loans, one of the largest SA Home Loan providers, have recently launched a mortgage product which is specially designed to cater for the low income groups.
With the Absa MyHome mortgage account, individuals or partners earning from as little as R1500 jointly can now be home owners.
The highlight of the MyHome product is that offers low income earners the opportunity to secure a 100% home loan, making the dream of owning a home a reality for millions of South Africa.
“MyHome will make it possible for almost all South Africans to own a home,” says Gavin Opperman, managing executive of Absa Group Home Loans.
“It is completely unique concept in that the qualifying criterion is based primarily on proof of regular income. This means that applicants do not have to be formally employed to be granted a home loan.
“We realise people who work in the informal economy also need a place to call home.
“In addition to offering our clients 100% bonds, an additional 10% will also be included to cover transfer duty, bank fees and registration costs.”
How to apply for an ABSA MyHome Mortgage:
Complete this short form online and a home loan consultant will contact you personally to assist your with your application.
NOTE: This is a free service.