One of the South African government’s most important promises to its people has involved making homes affordable and available to as large a segment of the population as humanly possible. So important is this vision that is enshrined within the country’s Constitution, guaranteeing that every single citizen of the nation has a right to obtain housing that is adequate to their needs. As a result, South Africa’s Standard Bank has developed many types of loans to guarantee that there are options available to every South African who wants a home.
With Standard Bank’s firm belief that the best memories always center on home and hearth, they have set out to ensure that the loan types they offer bring all of those memories within the grasp of every South African family.
The different Standard bank home loans:
The DreamStart
Most people give little thought to getting a home when they first join the world of work. Instead, they generally rent and save for the future before considering a home purchase. DreamStart, however, is a loan option designed to make it easier for even the newest members of the workforce to obtain home financing. That’s an attractive option for any young person wanting to get that first home early and perhaps move on to purchasing investment properties as they get a little older. For would be borrowers earning a monthly wage of anywhere from R1500 to R6K, the DreamStart is perfect.
Ordinary in name only
Standard bank’s ordinary loan offers assistance to most would be borrowers. Once the borrower takes care of all of the registration and deposit fees, he or she is eligible to receive financing that can be as high as ninety-five percent of the value of the loan. They do, however, require that you have a checking account with the bank.
Standard bank’s various term options provide access to housing loans for you regardless of whether you are selling the house you now own, purchasing a new house, constructing one from scratch, or doing renovations. The terms are adaptable to meet your needs, and designed to be within your budget ability. There are also a variety of tools available that can help you calculate your financial capacity and guide you through the process of home purchase. Every one of these tools is designed to assist you in expediting a housing purchase.
The first thing to do is to determine your ability to pay by using the calculators provided by Standard. With that number in hand, go out and find the home in your price range. The Standard lists for buying and selling offer practical guidelines for finding the home you need. After all of that is done, you have only to make a purchasing offer and fill out the paperwork for a Standard loan. Once approved, the home of your dreams will be yours at last!
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