Simple steps to apply for a mortgage (home loan)

Simple steps to apply for a mortgage (home loan)

  1. Choose between applying directly through a bank or using a mortgage broker.
  2. Choose an appropriate mortgage and find a qualified solicitor to act on your behalf.
  3. Provide the paperwork to the bank or broker.
  4. Work out what will be the maximum amount you can borrow, how much monthly payments will be and what the additional fees will be using the South African mortgage calculators.
  5. Find a suitable property within your budget and make a formal offer.
  6. Once the price has been agreed, you will have to pay the South African mortgage deposit to secure the sale and agree on a completion date.