Just how to qualify for a mortgage into the Southern Africa

Friday, 17 May 2024 by admin

Blog post conclusion

Ensure your credit score was above 600 at the least.
Score prequalified and that means you have a good idea from what you are able pay for before you apply to possess a home loan.
Home financing comparison provider will complete the job in order to numerous banking companies, improving your odds of getting home loan recognition.

Committing to a home is one of the most significant behavior you’ll be able to generate, and you may must ensure you get the very best opportunity you can regarding getting your dream house.

However, the original requirements is you become 18 ages otherwise old. You also need getting permanently used in half dozen consecutive weeks, otherwise worry about-used for for the past a couple of years.

Furthermore, the most important basis will probably be your credit rating, and you should pay special attention towards the credit history whenever making an application for a home loan. You would like a credit rating with a minimum of 600 towards the lender to think about your home loan application, if you are anything significantly more than 650 is regarded as a significant credit score.

When your credit score try lower than 600, you ought to take steps to switch your credit rating. ooba Home loans, Southern area Africa’s largest mortgage assessment provider, normally advise you about how to make that happen.

Needless to say, very first you have to know your credit score. We can help with that also, by getting you prequalified having home financing.

Prequalification: The first step to mortgage acceptance

It will provide you with your credit rating, and you may an idea of what you could realistically manage. This permits that start your property look having a substantial idea of what you’re in search of.

Alternatively, you can purchase prequalified by using a keen ooba Family Fund representative, by following these types of around three simple actions: