FAQ

Yes, standard transfer and bond registration costs apply. This can be incorporated into the bond.

 Yes, it is possible, however, it depends on your financial situation.

You can certainly acquire another property by borrowing against your house. This can be achieved by accessing the equity available in your home loan, where you use the value of your current home to secure funds for a new purchase. Alternatively, consider a refinance loan or switch loan, which allows you the opportunity to maximise your existing mortgage and potentially access additional funds. Leveraging the equity in your home can provide the financial boost needed to invest in another property and grow your property portfolio. To find out how much you could access for a new property, try our Home Loan Switch Calculator.

Definitely. Switching is simple, and we will walk you through every step, from your current bank to your new bond with us.

Yes, we can. We’re registered with the subsidy programme and can help you apply if you are a first-time buyer earning up to R22 000 per month.

Yes! If there is a price change, just let us know. We will reassess the loan value and update your documents accordingly

Yes, municipal and public sector workers can apply for housing access loans through SA Home Loans, provided they meet the criteria.

Yes, we assess each application based on the location, land rights and value of the property. Get in touch so we can guide you.

Pre-approval for a mortgage involves a lender reviewing your credit report to assess your financial situation. This is generally considered a soft inquiry, which does not impact your credit score. Unlike hard inquiries, which occur when you formally apply for credit and can slightly lower your score, soft inquiries are only visible to lenders  and do not affect your credit rating.
However, it's important to note that when you proceed with a full application, the lender will conduct a hard inquiry, which may impact your credit score. For more details on the impact of credit inquiries, visit Experian, XDS, or TransUnion.

On each new client accepted loan, one of our FAIS accredited consultants will contact you and provide full details of our cover. If you decide not to proceed with cover at that time, you can call in throughout the duration of your home loan and speak to one of our FAIS accredited consultants.  

It is simple, just use our online calculators or speak to one of our expert consultants. We will assess your affordability based on your income, expenses and credit profile.

To clear your name from a credit bureau in South Africa, begin by obtaining your credit report from reputable bureaus like Experian, TransUnion, or XDS. Review your credit history carefully for any judgments, defaults, or errors that may have resulted in being blacklisted. Ensure you settle all outstanding debts and verify that your creditors update and correct their records.

If you were under administration, you will need a clearance certificate from your debt counsellor or administrator. This document confirms that all your debts have been settled and the debt review process is complete. Submit this certificate to the credit bureaus to update your credit record. Regularly monitor your credit report to ensure all corrections are accurately reflected.

You can apply for pre-approval on our website. Once you submit your documents (like payslips and proof of employment), we will verify everything and let you know if you are eligible.

A bond allows people to buy property without paying the full purchase price upfront. Instead, they apply for a home loan from a lender, who evaluates their creditworthiness, income, and the property’s value as part of the mortgage process. The monthly repayment amount includes both capital and interest, which the borrower agrees to pay back in monthly instalments, over the loan period – which is usually 20 to 30 years. Paying off the home loan sooner reduces interest costs. If the borrower fails to repay, the lender can take ownership of the property to recover the debt. This home loan process ultimately helps an individual to secure ownership for residential property.

Home loan interest rates differ from person to person, based on their risk profile. Lenders assess factors such as affordability and credit profiles to determine your rate. These rates can be fixed or variable over the loan term. The amount you borrow includes the cost of the property, or principal amount, plus interest . Initially most monthly payments  go towards paying off the interest, with less towards the principal balance. As the loan progresses, more of your monthly payments reduces the principal amount. Understanding mortgage interest types and your risk profile helps you secure the best rate and manage your payments effectively.

Once we receive all the required paperwork, it typically takes 3-5 working days to get a final answer.

The larger the deposit, the better. Understanding the mortgage deposit requirements are important when buying a home. Even though some lenders offer 100% bonds, it’s wise to save for a deposit as a larger deposit means borrowing less which can result in a better interest rate and lower monthly instalments.  For a first-time buyer, a typical deposit for a house ranges between 10% and 20% of the property price, though any deposit is beneficial. Putting down a deposit demonstrates commitment  to the seller and improves your chances of a loan approval, as you are seen as a lower risk to the lender.

It depends on the home loan amount you are applying for. Our minimum income requirement is R8 000. As a general guide, your monthly home loan instalment should not exceed 30-35% of your gross monthly income.

To qualify for a home loan in South Africa, lenders will assess your credit and affordability to determine your risk, and the interest rate you will receive. A strong financial profile increases your chances of qualifying for a mortgage loan. Consider these simple tips for home loan qualification: aim for a favourable loan-to-value ratio by saving for a deposit, and ensure your income comfortably covers your existing debts. Check your credit record before applying and resolve any issues. It’s wise to know how much you can afford before starting your property search. When you’re ready, contact a reputable lender like SA Home Loans to ask for a pre-approval to begin your homeownership journey.

If you are building on land with approval from the chief or Induna we can assist you with finance on the presentation of required documentation. If you are buying in a new development, it will need to be built by a registered NHBRC builder.

Roughly around R1 300-R1 500, depending on the interest rate. Try the bond calculator on our site for a real-time breakdown.

 On our website, click “Apply Now”, and upload your details. Alternatively, call us and we will walk the journey with you.

Edge is ideal for first-time home buyers. You get reduced monthly instalments for the first 3 years, then revert to normal instalments. 

Maintaining a good credit score is essential for securing a home loan. To improve your credit score, start by establishing a reliable income and opening a manageable credit account, like a clothing account. Pay your instalments on time, as even a single missed payment can negatively impact your score. Prioritise paying off credit cards, which carry higher interest rates. Close any unused accounts to avoid dormant data affecting your credit profile. Avoid using credit to pay off debt, as this can signal financial strain. Regularly check your credit score to monitor progress. Following these credit score tips will help meet credit score requirements.

Your credit score is crucial for securing a home loan and is calculated based on various credit score factors. It reflects your borrowing and repayment history, influencing lenders' decisions on your application. A good credit score, often around 700 or higher, indicates responsible credit management and positively impacts your loan approval chances. Positive factors include payments made on time and managing debt repayments responsibly, whilst missed payments, defaults or judgements or high credit usage can hurt your score. To improve your credit score, start with manageable credit purchases and pay more than the minimum required. Regularly check your score for accuracy and resolve any errors.

Transfer costs vary based on the property value and legal fees. You will also have bond registration and initiation fees, but our consultants will give you a full cost outline upfront.

Determining your home loan affordability is a crucial step in the home-buying process. In South Africa, lenders typically ensure that home loan repayments don’t exceed 30% of your combined household income, with repayment terms averaging 20 years (240 months). If your income alone doesn’t qualify, you could consider applying jointly with your partner or someone else in your household to increase affordability. This shared financial responsibility can improve your chances of securing a loan. Saving for a larger deposit can also reduce monthly repayments. Use our home loan affordability calculator to estimate what you can afford to meet your home purchase requirements.

To apply for a home loan in South Africa, several factors are considered, including affordability, credit behaviour , and more. For home loan eligibility, we require a minimum household income of R8,000 and finance home loans ranging from R100,000 up to R6,000,000 . Ensure you have necessary documents like proof of income and bank statements available. A healthy credit history also plays a significant role in securing a loan. Review the mortgage requirements and ensure you meet the mortgage application criteria to increase your chances of approval.

You will need a valid South African ID, proof of income, 3 months bank statements and supporting documents like a purchase agreement if you are buying a property. We will guide you through the full checklist when you apply.

Our Edge Home Loan lets you pay only interest for the first 36 months. It is perfect if you are starting your career or need respite before jumping into full repayments.

When buying a house, transfer fees and transfer duties are key property transfer costs. Transfer fees are paid to conveyancers by the buyer  for managing the name change on the title deed of the property. Sometimes, a buyer  can negotiate these home buying transfer fees, especially if the attorney also handles bond registration. In contrast, transfer duty is a government tax paid by the buyer. This tax, collected by a transferring attorney, must be paid to SARS before the property transfer is recognized. Understanding these costs when buying a house helps ensure a smooth transaction.

Transfer duty is a tax imposed by the South African government on the transfer of property ownership from the seller to the buyer. It is a mandatory fee paid to SARS (South African Revenue Service) and is calculated based on the property's purchase price or market value, whichever is higher. Understanding transfer duty is crucial as it adds to your property transfer costs and is separate from other fees. For private buyers the transfer duty is calculated on a sliding scale, with higher rates for more expensive properties. While legal entities, like companies or trusts, pay a fixed percentage. For current rates and a detailed breakdown, visit our website: What Fees Can I Expect to Pay.

While we consider various factors, a good credit score gives you a better chance; however, each application is assessed individually.

Deciding between renting vs. buying comes with various considerations. Benefits of renting include flexibility and lower upfront costs. You’re not responsible for major repairs, and it allows you to save towards your own property for the future. However, renting means monthly payments contribute to someone else’s pocket, and you face potential lease terminations.

On the other hand, buying a home builds personal wealth and equity over time, and offers stability and control over your property. Owning a home can also provide rental income opportunities. For a more detailed comparison of the pros and cons on both options, check out our article on Renting vs. Buying.

Yes, your bad credit score can impact your spouse’s ability to buy a house, particularly if you're married in community of property (COP). In a COP marriage, both spouses share assets and liabilities, meaning your credit score is assessed alongside your partner’s when applying for a joint home loan. This could lead to higher interest rates, or the loan application being declined. However, if you’re married with an antenuptial contract (ANC) and only your husband applies for the loan, his credit score will be the primary factor. Addressing credit issues early on can significantly improve your chances of securing a home loan, regardless of your marital status.

For more guidance, contact SA Home Loans at 0860 2 4 6 8 10.

Qualifying for a home loan when you have  a poor credit score is challenging, especially if you are blacklisted or have judgments. Our approval process adheres to the National Credit Act and involves a comprehensive assessment of your credit profile. Major credit bureaus  like Experian, TransUnion, and XDS emphasize that a good credit score is essential for a successful home loan application. A poor credit score may lead to higher interest rates or worse, your application being declined. To improve your chances of approval, start by checking your Credit Report and rebuilding a healthy credit profile. For further guidance or assistance, contact SA Home Loans at 0860 2 4 6 8 10.