Bond Home Loan Pre-Approval: Prequalification Criteria For Standard FNB Nedbank & Absa Bank
Embarking on the bond pre-approval process requires criteria and preparation. The would-be borrower must first gather pertinent documents: proof of income, such as pay slips and tax returns; proof of assets, including bank statements and investment accounts; and personal identification. With these in hand, one approaches a lender or bank, who will then pull a credit report and assess the overall financial picture.
Home Loan Pre-Approval Success Stories
Thabo P from Pretoria
Occupation: Electrician
Salary: R40,000 per month
The Situation:
Thabo had been self-employed for 5 years and wanted to buy a home for his family.The Challenge:
He applied for a home loan pre-approval at Standard Bank and FNB but was rejected because he was self-employed.The Solution:
He turned to BankBonds.co.za for a mortgage loan pre-approval specifically for self-employed applicants.The Outcome:
BankBonds.co.za helped him secure a home loan pre-approval from Nedbank within 6 days.Steps Taken:
The team at BankBonds.co.za explained that self-employed applicants needed 2 years of audited financials. They helped him organize his documents and submitted his home loan prequalification to 5 lenders.Benefits:
Thabo received a mortgage pre approval and was able to buy his first home.What They Said:
"Being self-employed made it difficult to get a home loan pre-approval. BankBonds.co.za understood my situation."
The Result:
Thabo bought a 4-bedroom home in Centurion for his growing family.
What Documents Needed For Bond Application South Africa?
- Monthly Income
- Proof Of Employment
- Self-Employed, Business Or Company Bank Statements
- Income Tax
- Outstanding Debts and Loans
- Equity, Proof Of Assets
- Living Expenses
- Personal Bank Statements
- Identification
Fast and Easy Pre-Approval Form
Get the ball rolling, hit the apply button below and a bond originator will contact you asap about your pre-approval/pre-qualify document.
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