What is a bond originator?
We source and secure bonds for our customers and are experts in our field, working with all the banks to ensure you get the best home loan possible. We do all the hard yards – assist with admin, pick up the paperwork, decode the jargon and offer advice, working tirelessly to get you the best deal and interest rate.
And it’s free! That’s right, we don’t charge you a cent.
Do I need a bond originator?
Yes you do. We’ve helped thousands of families get their own homes, which is why more and more people are coming to GetGo Home Loans to help them secure the best bond for them. Our team of trained and knowledgeable Home Loan Specialists do the heavy lifting, so you don’t have to. Need advice? Have questions? Want options? That’s what we’re here for.
We have relationships with all the major banks, we know the right people to speak to and we’re excellent at dotting the i’s and crossing the t’s. This is what we do, and we love it.
And it’s free! That’s right, we don’t charge you a cent. Get in touch
What is a bond pre-approval?
Bond pre-approval provides you with your credit score, and an assessment of how much you can afford, based on your income and expenses. It means you can start looking for a home with confidence, knowing what your optimal price bracket is.
It’s a free, no-obligation service offered to buyers with the help of bond originators, like GetGo Home Loans. Get in touch and let’s get going.
Does pre-approval mean approved?
Not quite. Pre-approval simply provides you with a realistic idea of what you can afford, based on your income and expenses, your credit record, and your chances of getting a bond approved. The agent and seller will also recognise you as a serious buyer. Apply now
How much can I afford?
The million-Rand question. A home loan is long-term commitment. Your new home should add value to your lifestyle, not restrict it. Think about how much you’re willing to pay each month on your home loan. Look at what you earn, how much you want to save for the future, your current debt, where you want to spend your hard-earned money (education for your kids, travel, home improvements) and balance it out with what you can realistically afford.
Do the maths, because the banks definitely will. Luckily for you our calculators take the guesswork out of the numbers. Give them a try now.
Will I need a good credit rating?
It definitely helps. Your credit history makes up a large portion of your credit rating, so making payments on time each month will show you’re a solid, reliable payer
A high credit score is great when buying a home:
1. Banks could offer you a lower interest rate because you’re less of a risk.
2. The loan to value you will qualify for may be higher. Loan to value is the deposit you may need to pay towards the purchase price of a property. A better credit rating means a lower deposit.
A good credit rating is a very valuable thing to have. Get in touch
Will a deposit get me a better rate on a home loan?
Yes, the higher your deposit, the less risk you are to the bank. A higher deposit improves your chances of securing a better interest rate on a home loan.
That said, not everyone can afford to put down a deposit. Some banks are granting bonds with no deposit. The advantage of a deposit, though, is it reduces the size of your bond, your monthly repayments, and the interest you’ll be charged over the term of the loan.
Our advice? If you can, put down a deposit. Use the calculators to see what you can afford. Calculators
What hidden costs are there when buying a home?
Your biggest expenses are transfer costs, transfer duties, and bond registration costs. These need to be factored into your calculations.
But don’t forget about things like moving costs, repairs and maintenance before moving in, home and household insurance, and rates and levies. These all need to be factored in and aren’t necessarily related to the home loan itself.
Remember, we’ll be with you from the get go, to make sure you understand every step of the journey to owning your dream home. Calculators
What is the current prime interest rate in South Africa?
The prime interest rate can be found on our calculators page. But remember: the interest on your home loan may be higher (or lower) than the prime interest rate, depending on several factors like your credit rating, deposit, and your relationship with your bank.
The lower the interest rate, the less you pay on your loan long-term. At GetGo Home Loans, we negotiate hard to secure the very best interest rate for you, because we know it’s so important in the long run. Calculators
What causes banks to decline a bond?
It’s never great to hear that your home loan application has been declined. Here are a few reasons why banks may not grant a bond:
1. You don’t earn enough to make the bond repayments each month.
2. Your credit rating is too low.
3. You have too much debt already and pose a risk to the bank.
4. The value of the property is lower than the bond amount applied for.
If any of these are red flags for you, please do get in touch so we can see whether it’s possible to work though these with you, and still negotiate a successful home loan. Need to know more?
Is it cheaper to build or buy a house?
It really depends on what you’re looking for. Building a new home from the ground up can cost 20%-30% more than buying an existing one.
The advantages of building? You get to create a home specifically for you and there are no transfer costs.
But it’s not for everyone. Finding the right piece of land, sourcing the best contractors, and waiting months (sometimes years) for the house to be completed can put people off.
Shop around to see what’s out there. It may be cheaper and more rewarding to buy an existing house and renovate it.
Why is it important to shop around when looking for a new home?
Buying a new home is a big deal and you want to make sure you’ve explored as many options as possible. Look at different neighbourhoods, explore options like single or double storey, townhouse, freestanding house or apartment, with or without a garden or garage (or both).
It’s likely you won’t find what you’re looking for right away. Don’t be discouraged, your dream home it’s out there, so keep looking.
I’m self-employed, how will this affect my bond application?
The application process is a little different if you’re an entrepreneur. Some banks require additional documentation, surety and higher deposits. Speak to us and we’ll give you the guidance you need to secure your home loan. Chat to us
I already own a property. How will this affect my bond application?
If you own an existing property, there are several factors taken into consideration when you apply for another home loan, like your credit rating, the size of your current home loan, income versus debt and what the property will be used for (investment or to live in). Speak to us and we’ll give you the guidance you need to get your second property. Chat to us