call river and sea properties

First time home loan

The first thing is to look at how much you can afford, and project a cash flow model that you are comfortable with. Once you have this you are in a position to look at home options. Gather all the information that you can on the costs involved, such as transfer fees and levies. Don't be shy to seek advice from reputable professionals - you won't have to pay for this. Then start to shop around for the best home loans you can find - remember that the market is competitive and you have many options. When you have decided on a first time home loans option, secure finance upfront, so that you can negotiate knowing that you have the money available.

Check title deeds for restrictions, which can lead to hidden costs, and have specialists check the structural elements of the house, including plumbing and electricity. When you have decided on a house, pay attention to the difference between possession and occupation. An occupant only takes possession on the day that the transfer is registered at the Deeds Office.

Manage your repayments intelligently

Maintain your monthly repayments even if interest rates fall, as this will start putting you ahead of your repayment schedule, and the extra you pay turns your bond into a high-interest tax-free savings account that you can access later.

Pre-qualification

It is very disappointing to find that home that you have been searching for only to find out that you cannot afford it, whether it be that the bond repayments are too high or due to a problem with your credit rating. Fortunately this can be avoided with the process of getting pre-qualified - a free and quick process.

So what is pre-qualification? Basically you can get a certificate that is valid for a certain amount of time, say a few months and it states the amount you can purchase for. A credit check is also done with your consent. It is generally based on income - individual or joint. There is no obligation for you take a home loan as this is simply a tool to guide you.

One of the biggest benefits of this pre-qualification is that you don't end up looking at properties that are beyond your means, resulting in disappointment. It also speeds up the process of getting your bond. Sellers will be more convinced to accept your offer if it is backed by this certificate.

Home loan banks

  • Absa Home Loans
  • Nedbank Home Loans
  • Standard Bank Home Loans
  • Old Mutual Home Loans
  • Sanlam Home Loans
  • FNB Home Loans

Home loan companies

  • Bond Choice
  • ooba
  • SA Home Loans
  • SecuBond
  • PropertyLoans
  • GPF Mortgage