100% Home Loans | No Deposit Home Loans | Secure 100% Bonds from Mortgage Plus

Sept. 8, 2010 - PRLog -- Finding the money to pay a deposit has been a major hurdle for many first time buyers. An average property in South Africa may cost between R500 000 and R700 000. For most the challenge of saving up 5% or 10% of the purchase price of their first home is a mountain to steep to climb.

100% home loans helped to solve this problem. These mortgages allowed buyers to finance the full purchase price, paving the way to home ownership for many first time buyers. http://www.mortgagepluscc.co.za

After the credit crunch hit, SA lenders quickly removed 100% bonds. When these no deposit home loans are removed many potential buyers were forced out of the property market, which fueled a drop in house prices.

But South Africa’s banks have once again started to open their doors to 100% lending!

All the major banks are now offering 100% Bonds in one form or another. To secure a full 100% no deposit home loan you would need to either:

◦ Have a strong credit rating with the various banks
◦ Be purchasing a Bank Repossessed Property
◦ Work for a company that offers Pension Supported Home Loans
◦ Earn a total household income of LESS than R15,000 per month, to qualify for Lower-Income housing finance.

Extra Note:

There is a growing trend, among buyers who don’t fulfill above criteria, to secure their deposits using a credit card or personal loan. This is particularly true for clients who have very good debt-to-disposable income ratio.


By choosing Mortgage Plus for a loan, you will get professional advice to make sure you are getting the best deal possible.

CONTACT US

Speak to a home loan consultant about financing your new property or reviewing your existing mortgage. We are able to assist in lowering your bond repayments and securing attorney discounts.

Call us on 011.327.4489

http://www.mortgagepluscc.co.za

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Mortgage Plus Bond Originators specialises in Mortgages, Bonds, New Home Loans, Building Loans, Further Loans, Bond Switches and Debt Consolidation Home Loans, Personal Loans and Insurance in South Africa.
We will find the right deal for you.Guaranteed!