Buying a home is one of the biggest investments a person will ever make. That?s why you must take the time to shop for a home loan, do your research and make sure you find a home loan that suits your needs. You?ll want to use a qualified lender as well.
One feature buyers want in a home loan is flexibility. Nedbank is dedicated to providing flexibility to its home loan customers. Nedbank home loans can be tailored to suit the individual needs of the home buyer. This flexibility makes Nedbank very attractive, especially to first time buyers. However, veteran home buyers will also find a Nedbank product to suit their needs.
Nedbank home loans can be used to buy either an existing home or vacant land. Home loans for 100% of the purchase price are available as well, depending on the property value and buyer?s credit history. Nedbank will also finance between 70-100% of a vacant land purchase, which once again depends on the value of the property and the buyer?s credit history.
Nedbank offers both fixed and variable interest rate home loans, as well as Nedbank Accelerated Payments, which enable the buyer to pay off their home loan faster than what is agreed upon in the home loan contract. Talk about flexibility!
In order to qualify for a Nedbank home loan, you must be a South African resident with a good credit record. There are minimum monthly income requirements as well. Before you apply for a home loan, check your credit report. If there are any errors, contact the credit bureaus to have them removed.
First check for errors and then check for high credit balances. High credit balances lower your score, and increase the interest rate on a home loan. Also, set aside a few months worth of loan repayments, which is known as reserves. Banks demand reserves, so this is not an option.
Paperwork comes with anything important, so you can imagine the amount of documents you will need for a home loan. Ask the bank ahead of time and submit the paperwork at the start of the loan process. Documentation includes proof of identity, income verification, bank statements and the offer to purchase agreement.
Once you get a home loan, you will have to make monthly installment payments on the loan. The monthly payment consists of capital, interest, home insurance premiums, an administrative fee and possibly a life insurance premium.
The first step in making your dream a reality is finding a qualified lender. At Nedbank, your search for the best lender and quote may end there.
One feature buyers want in a home loan is flexibility. Nedbank is dedicated to providing flexibility to its home loan customers. Nedbank home loans can be tailored to suit the individual needs of the home buyer. This flexibility makes Nedbank very attractive, especially to first time buyers. However, veteran home buyers will also find a Nedbank product to suit their needs.
Nedbank home loans can be used to buy either an existing home or vacant land. Home loans for 100% of the purchase price are available as well, depending on the property value and buyer?s credit history. Nedbank will also finance between 70-100% of a vacant land purchase, which once again depends on the value of the property and the buyer?s credit history.
Nedbank offers both fixed and variable interest rate home loans, as well as Nedbank Accelerated Payments, which enable the buyer to pay off their home loan faster than what is agreed upon in the home loan contract. Talk about flexibility!
In order to qualify for a Nedbank home loan, you must be a South African resident with a good credit record. There are minimum monthly income requirements as well. Before you apply for a home loan, check your credit report. If there are any errors, contact the credit bureaus to have them removed.
First check for errors and then check for high credit balances. High credit balances lower your score, and increase the interest rate on a home loan. Also, set aside a few months worth of loan repayments, which is known as reserves. Banks demand reserves, so this is not an option.
Paperwork comes with anything important, so you can imagine the amount of documents you will need for a home loan. Ask the bank ahead of time and submit the paperwork at the start of the loan process. Documentation includes proof of identity, income verification, bank statements and the offer to purchase agreement.
Once you get a home loan, you will have to make monthly installment payments on the loan. The monthly payment consists of capital, interest, home insurance premiums, an administrative fee and possibly a life insurance premium.
The first step in making your dream a reality is finding a qualified lender. At Nedbank, your search for the best lender and quote may end there.
About the Author:
Tom Martens is the content coordinator for South Arica?s leading Homeloans portal which amongst others offers Bond origination services for all major banks.
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