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Quick & Easy
It only takes a couple of seconds to complete our online mortgage application form. A couple of seconds that could save you thousands. Complete the form above and have a professional mortgage consultant contact you. Use the form below to apply for a new home loan, bond switch, further mortgage loan or prequalification letter.

Will I get a better rate if I deal directly with the banks?

Probably not. When dealing directly with banks or lenders, you are likely to receive a retail loan rate (PRIME RATE). Mortgage originators share a special business relationship with their lenders, which allows them to negotiate at prime less rates. Learn about the role of a mortgage originator

Home Loan Market News: 06-08-2009
Absa Home Loans
My Home Loan : Lending Criteria

In light of the changing market conditions , ABSA
Home Loans have taken a decision to increase MY
HOME income levels from R 7500 to R 11000 with
unlimited purchase price.This change came into effect
on the 14th of May2009.

The new criteria allows clients earning up to R 11000
(Single and joint income ) to qualify for 110% home loan
To Value i.e.100% to purchase price and 10% for
bond registration costs.This product is for both ABSA
and non ABSA clients.

Optional life cover which pays off in the event of
death.Permanent and temporary disability cover is
available. Qualifying cover is available from ABSA
Life without medical examinations, or clients can
choose their own insurer.

CRIS

The insurance cover period is 5 years from date of
Registration.

Should you NOT indicate on the application that the
customer has one of the following:-

*Cashdeposit
*LoanGuarantee
*EmployerGuarantee
*Pensionsupportedhome loan

ABSA will automatically provide the CRIS cover
of110% to valuation.

Limitation ofthe product :

* Only residential properties may be financed with the My
Home Loan from ABSA.

*A minimum of12 months uninterrupted employment is
required.

*A switch is allowed if there is no state capital subsidy involved.

More : Home Loan Market News

The noticeable improvement in value of loans granted since the beginning of the year reflects the positive impact of 5 percentage points’ worth of interest rate cuts since late- 2008, banks responding to better environment with some relaxation in lending criteria, and a mildly improving economic growth performance.Fnb HomeLoans News