SA Home Loans is a mortgage finance company and mortgage insurance provider in South Africa. It was founded in February 1999 and is headquartered in uMhlanga, South Africa near the city of Durban. Its services cover origination and credit approval through to registration and ongoing loan servicing.
SA Home Loans
Which bank works with SA Home Loans?
Capitec Bank
Together with Capitec Bank, we walk the extra mile in getting you approved. We’re proud to partner with Capitec Bank, offering home loans to Capitec clients and putting more South African’s into their own homes. SA Home Loans and Capitec have much in common.
How much do you need to earn in South Africa to qualify for a home loan?
(Calculations are based on a 20-year mortgage at the current prime rate of 9%.): In the Eastern Cape, the average purchase price is R1 048 847 (the most affordable of all the South African provinces), so you’ll need to earn at least R32 000 per month to afford a home loan of this value.
What credit score do you need to buy a house in South Africa?
The minimum credit score for a home loan in South Africa is around 640. A score of 600+ will give you a fair chance of home loan approval – although this may vary according to which bank you use. A score of 670+ is considered an excellent credit score, significantly boosting your chances of home loan approval.
How long does it take to approve a home loan in South Africa?
The loan approval process can take up to two weeks once all the required documents have been signed and submitted.
Leave a Reply