Home Equity Loans 101
A secured home loan differs from an unsecured loan in that the secured loan borrows against one's home as collateral, thereby reducing the risk to the lender. As such, secured home loans often offer better interest rates than unsecured loans, but...
Home Loans and Mortgages - Shop Around for the Best Deal
The real estate market has been booming in the U.S. for some five years now and a record number of Americans now own their homes. The mortgage industry has recognized the fact that people have all kinds of needs and incomes and has provided an...
Home loans: what you should know !
Finding home loans can be a daunting task, whether you’re a first time home buyer or an existing homeowner. The good news is that there are more options than ever to help you find the loan that’s right for you. Check Your Credit Report An...
Instant Payday Loan and Instant Payday Loans
Instant payday loans are financial loans that are available for anyone who is experiencing an unexpected crisis and is in need of additional cash fast. A lending institution will advance an instant payday loan of cash as a cash advance on a...
The Ins And Outs Of Bad Credit Home Loans
Owning a home is part of the American dream. It's also the biggest purchase that most of us will ever make, and because of that, almost everyone will be borrowing money to do it. Unfortunately, for many people that means a bad credit home loan, and...
Home Loans SA – best tips
Your home loan will most probably be the biggest investment you’ll ever make, and you’ll want to be use to you’re making the write choices before you decide to purchase your own home.
Firstly, one of the most important points to consider when purchasing a home is its Location. The location of your new home will play a key role when it comes to applying for a home loan. In SA home loans are granted by many mortgage lenders subject to a property valuation.
The valuation is performed when you apply for your home loan, and it is used to calculate the home Loan - To- property Value ratio (LTV). The LTV is ratio between the home loan amount you're applying for and the value of your property.
Nearby schools, easy access to transport and safe and secure neighborhoods will ensure that your property value continues to increase,
improving the return on you investment.
Secondly, shop around for a best home loan interest rates. A 1% difference in the interest rate charged on your home loan could mean you’ll be saving R30 000 over the term of your bond – depending on the size of your home loan.
You, as a property owner, can have your property revalued and apply for a further advance on your home loan of up to 100 percent of the new value of the property.
And finally, ensure that you are aware of the total costs involved in registering your home loan. Transfer costs are normally about 8-9% of the home loan, but these costs could be included in your loan. Always clarify this beforehand with your bank.
Get more SA Home Loans information at www.propertyloans.co.za