toolkit-new-buyers | SA Home Loans

New Buyers Toolkit

Buying a new home? Here's all you need to know. 

Home Buyers Guide

Your Complete Guide to Buying a Property

You don’t buy a home every day, and there are things you’ll need to take note of when going through the process of purchasing your first property.
Our Home Buyers Guide is free to download and available in English, Afrikaans, isiZulu, Sesotho and isiXhosa. This handy booklet will guide you through this process.

Here’s what you’ll learn: 

  1. How to calculate what you can afford 
  2. How to find the right property 
  3. The additional costs of buying a home
  4. What happens after you’ve put in an offer to purchase
  5. Which documents you’ll need to have ready to apply for a home loan
  6. And how to make your bond work for you
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Frequently asked questions

  • How do I know if I qualify for a home loan?

    Take a moment to use our calculator which will give you a good indication of the various qualification criteria. Otherwise call one of our specialist consultants on 0860 2 4 6 8 10 and they will be happy to assist you.

  • What do I need to apply?

    We offer a simple step-by-step process. PLEASE CLICK HERE FOR DETAILS. 

  • What interest rate will you charge me?

    Interest rate is set based on many variables – most of which are determined by the client. How much deposit can you afford to put down towards the purchase? Typically, a larger deposit will qualify you for a lower interest rate. There are many more options to consider than just the interest rate when choosing the best home loan product for you. And the interest rate may be different, depending on the option you choose. The best way is to take the time to make an application. No one application or set of circumstances is the same. We prepare a no-obligation proposal for you to consider. Call a specialist consultant on 0860 2 4 6 8 10 and get under way.

  • What documentation do I need?

  • What fees can I expect to pay?

  • What are the lending criteria for non-residents?

    Specific requirements for non-residents:

    • The loan amount may not exceed 50% of the purchase price of the property. (The Reserve Bank rule is that for every rand you bring into the country, they will lend you a rand!)
    • The buyer must obtain consent from the Reserve Bank prior to the transaction being finalised. The application to the Reserve Bank can only be handled by an appointed dealer which includes the commercial banks.
    • Proof must be provided that the funds for the deposit emanate from the country of origin, which can be done by the attorneys involved in the property transfer.
    • A statement of foreign assets & liabilities must be made available.
  • Do you need life insurance as a first-time homeowner?

    If you have a home loan, it is important to have life insurance.  Having sufficient life insurance to cover the bond balance in the event of death or disability will benefit both you and your family and/or dependents. If you don’t have life insurance and the heirs of your estate cannot maintain the remaining bond instalments after your death,  you may lose the property, altogether.

  • What do I need to know before buying my first home?

    We have detailed information on all the information you need to think about before you buy your first home. PLEASE CLICK HERE FOR DETAILS.

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