Our home loan consulting services to you are absolutely free of charge. However when your Bond application is approved a Bond Attorney will be assigned by the lender to register your Bond and that Attorney`s fee will be for you to pay. The interest will be the other cost that you will continually pay on your bond term but don`t worry we will negotiate the best interest rate for you.

This is the first step that you must take when you decide to buy a property because it gives you a price range that you are likely to qualify for. You submit your income and expenditure information via payslips and bank statements so that we can generate an estimate of the Bond amount you can afford.

Buying a house is likely the biggest transaction you will ever make so why would you run the risk of not taking insurance for both. The lender will definitely not risk financing such a transaction and makes it mandatory for you to insure both. No need for you to worry as PSC Home Loans is there to assist you in this as well.

The credit bureau allows you to check your credit score once a year, at no cost and we can also assist you in obtaining it if need be. A score above 600 might give you a chance of being approved for a home loan depending on the lender. A score under 600 is considered too risky for lender to provide home loans.

Securing an agreement for a mortgage comes down to a lot of factors but the main ones are:

• Does your income fit lenders’ affordability calculator?
• Is your income sustainable?
• Do you have historic credit issues?
• Do lenders’ deem the property you want to purchase acceptable, e.g. is it structurally sound?
• Are you old enough?

Don’t worry we will answer all your questions and get you moving.

If you want a zero deposit home loan then you are in the right hands with us. However if your profile is not good in terms of affordability, credit record, etc you might not get a 100% Bond and therefore required to put a deposit. On the other hand if you afford to put a deposit that will work out to your advantage because the bigger the deposit you can afford to put down, the better the chances of securing a favorable interest rate on your home loan.

Your affordability is determined by your monthly income and expenses, the term of the loan and the interest rate. Any surplus (income left over after expenses) every month determines what you can afford as a monthly bond repayment.

Applicants intending to acquire residential property may apply for First Home Finance if they meet the following qualifying criteria:

• South African citizen with a valid ID; or permanent residents with a valid permit
• Over 18 years and competent to legally contract
• Have never benefited from a Government Housing Subsidy Scheme before
• Have an Approval in Principle of home loan from an accredited South African financial institution
• First time home buyer, earning from R3,501 to R22,000 per month.

Transfer costs are paid by the buyer of the property, to a conveyancing attorney who is appointed by the seller of the property.

Yes, you can use your home equity to finance a new home purchase. And it’s an effective, low-cost way of funding a home loan. Home equity is the difference between the value of the home and what you owe on the home loan. You can apply for a new home loan and use your home equity to fund it. The new home loan will have its own interest rate, either fixed or variable.

At PSC Home Loans, we can help you secure a 105% home loan, which is aimed primarily at first-time home buyers looking to buy properties valued at less than R1.8 million. This will help to cover the property transfer and bond registration costs. If the extra loan is intended for renovations, then you may be required by the bank to provide proof of building plans.