FAQ

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

Including a deposit is highly beneficial because it directly reduces the total amount you need to borrow. This results in lower monthly bond repayments and significantly reduces the total interest you will pay over the lifespan of the loan. In some cases, a deposit may also influence the interest rate offered by the lender.

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.