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
Nkosi S from Durban
Occupation: Lawyer
Salary: R85,000 per month
The Situation:
Nkosi wanted to buy a second property as an investment in Durban's CBD.The Challenge:
He already had a mortgage on his primary residence and was unsure about getting a home loan pre-approval for a second property.The Solution:
Nkosi contacted BankBonds.co.za for a mortgage loan pre-approval on his second property.The Outcome:
He received a home loan pre-approval from Standard Bank and Absa within 3 days.Steps Taken:
BankBonds.co.za calculated his affordability including the rental income from his primary property. They submitted his home loan prequalification to 6 different lenders to find the best deal.Benefits:
Nkosi got a mortgage pre approval with a 70% loan-to-value ratio, which was better than he expected.What They Said:
"Buying a second property is complicated. BankBonds.co.za made the home loan pre-approval process seamless."
The Result:
Nkosi now has a second property that generates rental income and is building his property portfolio.
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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