How do you check if you qualify for a bond?
Banks usually calculate the home loan amount you qualify for by looking at:
- Gross income. This is your total income before deductions like tax, medical aid and pension.
- Net income. The is your income after all deductions.
- Total expenses. ...
- Interest rate. ...
- Number of years.
How long does SA Home Loans take to approve a bond?
Alternatively, contact your nearest SA Home Loans branch to begin the bond application process. All you'll need is your South African identity document and proof of income. Once all the necessary documentation is submitted, we will be able to complete the approval process within 48 hours.
What credit score is needed for a home loan in South Africa?