Latest Articles
Top Ten Reasons For Consolidating Your Student Loans
From saving money to improving your credit score, there are many benefits to consolidating student loans. Here are the top ten reasons why you should streamline these debts.
1. Peace of mind
Have you had sleepless nights worrying about...
Understanding Credit Card Debt Consolidation Loans
If borrowers are asked to vote for the most striking feature of
credit cards that appeals them, then increased spending power
ought to bag the largest number of votes. In fact this is a
feature that distinguishes credit cards from cash, cheque,...
Use Real Estate Loans To Finance A Commercial or Residential Property
Real estate is one of the most lucrative investment options.
Besides using it for investing, people acquire real estate to
have a comfortable and sprawling residence. Real estate is also
used to further a person's business and commercial...
Home Loans SA – best tips
Your home loan will most probably be the biggest investment you’ll ever make, and you’ll want to be use to you’re making the write choices before you decide to purchase your own home.
Firstly, one of the most important points to consider when purchasing a home is its Location.
The location of your new home will play a key role when it comes to applying for a home loan.
In SA home loans are granted by many mortgage lenders subject to a property valuation.
The valuation is performed when you apply for your home loan, and it is used to calculate the home Loan - To- property Value ratio (LTV). The LTV is ratio between the home loan amount you're applying for and the value of your property.
Nearby schools, easy access to transport and safe and secure neighborhoods will ensure that your property value continues to increase, improving the return
on you investment.
Secondly, shop around for a best home loan interest rates. A 1% difference in the interest rate charged on your home loan could mean you’ll be saving R30 000 over the term of your bond – depending on the size of your home loan.
You, as a property owner, can have your property revalued and apply for a further advance on your home loan of up to 100 percent of the new value of the property.
And finally, ensure that you are aware of the total costs involved in registering your home loan. Transfer costs are normally about 8-9% of the home loan, but these costs could be included in your loan. Always clarify this beforehand with your bank.
Get more SA Home Loans information at www.propertyloans.co.za
About the Author
Staff Writer
Written By: Gino