Home Loans

        Home Loans

Home Loans

While only about 35 % of South Africans own their homes, many more aspire to have one, and with a good reason. However, houses are large ticket items, with only a few being able to pay the entire cost upfront. For South Africans, much like the rest of the world, applying for a home loan facility becomes the next best option.

R4 000
Loan amount R100 - R4 000
Interest 24,31 %
Maturity 2 - 36 days

Fast information

Properties of this loan

  • Online loans up to R4.000
  • Term 2 - 36 days

Loan terms

  • Phone number
  • E-mail
  • ID number

About company

More information about the company Boodle (Pty) Ltd.

Borrow from R100 with interest from the 24,31 % Get a loan

FNB

FNB  3
R300 000
Loan amount R1 000 - R300 000
Interest 13 %
Maturity 1 - 60 months

Fast information

Properties of this loan

  • Online loans up to R300.000
  • Term 1 - 60 months

Loan terms

  • You must be between the ages of 18 and 64
  • Be a permanent SA resident
  • Be permanently employed or self-employed
  • Your salary must be paid directly into your bank account

About company

More information about the company First National Bank

Borrow from R1 000 with interest from the 13 % Get a loan
R50 000
Loan amount R1 000 - R50 000
Interest 79 %
Maturity 6 - 24 months

Fast information

Properties of this loan

  • Online loans up to R50.000
  • Term 6 - 24 months

Loan terms

  • A valid SA ID
  • 3 latest payslips or 3 latest bank statements
  • Must be permanently employed and earning a monthly salary
  • A valid cell phone number
  • A valid SA bank account
  • Must be 18 years or older

About company

More information about the company Capfin SA (Pty) Ltd

Borrow from R1 000 with interest from the 79 % Get a loan
R5 000
Loan amount R1 000 - R5 000
Interest 3 %
Maturity 6 months

Fast information

Properties of this loan

  • Online loans up to R5.000
  • Term 6 months
  • Easy application

Loan terms

  • Latest payslip and 3 months bank statements
  • Or last 3 payslips

About company

More information about the company Dunami Direct (PTY) Ltd

Borrow from R1 000 with interest from the 3 % Get a loan
R200 000
Loan amount R1 000 - R200 000
Interest 20 %
Maturity 1 - 5 years

Fast information

Properties of this loan

  • Online loans up to R200.000
  • Term 1 - 5 years
  • Easy application

Loan terms

  • To apply, you must be 18 years or older
  • Please carefully read the terms and conditions before applying

About company

More information about the company AB Partners (PTY) Ltd

Borrow from R1 000 with interest from the 20 % Get a loan
R50 000
Loan amount R5 000 - R50 000
Interest 63 %
Maturity 7 - 36 months

Fast information

Properties of this loan

  • Online loans up to R50.000
  • Term 7 - 36 months

Loan terms

  • Have a South African ID Number
  • Be between 22 and 60 years old
  • Be employed full time
  • Have a personal bank account in your name
  • Have an email address and cell number

About company

More information about the company Izwe Loans (Pty) Ltd

Borrow from R5 000 with interest from the 63 % Get a loan
R75 000
Loan amount R2 000 - R75 000
Interest 10 %
Maturity 12 - 60 months

Fast information

Properties of this loan

  • Online loans up to R75.000
  • Term 12 - 60 months
  • Fast online application

Loan terms

  • Be 18 years of age or older
  • Have a valid South African ID
  • Earn at least R2,000 per month
  • Latest 3 payslips or the last three months' bank statements
  • Have a bank account in your name

About company

More information about the company Woolworths Financial Services (Pty) Ltd

Borrow from R2 000 with interest from the 10 % Get a loan

        Home Loans

The loan application process can pose its own set of challenges, especially for first-time applicants. Here is a breakdown of the three key things to keep in mind before scouting for South Africa home loans.

Deposit

A deposit is the amount of money you wish to place on your home purchase, before finding a financier for the rest of the amount. Your deposit is one of the main things to think about before you begin the process because it:

While most loans require a deposit, there are a few financing institutions that give 100% financing. However, even with such a facility, there are upfront operational and processing charges to be absorbed by the prospective homeowner. When it comes to the deposit on a house, the higher the deposit you can put up, the cheaper your loan will be. To be at an advantage, strive to accumulate significant savings to go towards your home’s purchase.

Repayment Term

The repayment term is the duration in which you are to repay the loan amount in full. Until this is done, the home’s deed will remain registered in the financing institution’s name. Most SA home loans have a repayment period of 20 to 30 years.

The payments you make during the first few years goes towards paying off your interest. Over time, your payments will go towards repaying the actual loan amount. Keep in mind that the shorter your loan term, the cheaper your loan will become. This notwithstanding, some financiers will penalize you for paying your loans earlier than agreed upon in your contract.

Therefore, ensure to understand your loan’s terms and conditions before taking out a loan facility. If you see an improvement in your financial status or an additional source of income that will enable you to make larger payments, ensure to get a loan facility that accommodates this.

Home Affordability

Affordability comes into play when figuring out the total cost of a house you can afford. Some of the variables here are your deposit, the repayment duration, and payable installment amounts. Essentially, affordability is calculated by subtracting your total expenses from your total household income. The figure you get from this gives you the amount of money that would be available to make comfortable monthly home loan repayments. To aid you, identify a suitable home loans calculator online to help you crunch the numbers.

All in All

While buying a home is indeed an exciting milestone, it’s imperative to allow yourself ample time to understand and navigate the processes involved. Understanding the above principles will help you start the proper planning required to access the best home loan facilities in South Africa.


Home Loans rating: 4.5/5 from 17 votes.

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