How to get a home loan pre-approval today
If you’ve already spent time scrolling through an estate agent’s website, it’s a good time to do a home loan pre-approval. In fact, it’s never too late to do one! Industry stats show that it takes South Africans on average 3-6 months (if you’re lucky!) to buy a home, and since our pre-approval is valid for 90 days, it’s a good idea to do one today.
What documentation do you need?
The more accurate information you provide, the more realistic your pre-approval will be. Luckily all the documentation we need to calculate your bond pre-approval is easy for you to collect.
As a salaried individual, you will need to provide the following:
- A clear copy/photo of your ID book or card, back and front (we need to ensure we’re doing a pre-approval for the right person),
- Your latest payslips (at least 3 will show that you’re earning a regular and stable income),
- 3 months’ recent bank statements showing your salary (we’ll assess these to get a view of what percentage of your net income currently pays off existing debt and therefore what you’re contractually required to pay on a monthly basis),
- The completed and signed credit check consent form (the first thing a bank will do is check your credit score, so we check this upfront when calculating a pre-approval in such a way that it doesn’t negatively impact your credit score).
How can you get a pre-approval with GetGo Home Loans?
As every application for a home loan pre-approval is different from the one before it, we’ve got a team of specialist consultants ready to assist you.
If you prefer to start this process online, you will need to complete the quick request form here: (start your pre-approval now)
We’ll need your basic personal information to start the process, and you can expect a call from our specialist consultant team who will guide you through a short interview.
If you already have a relationship with a GetGo Home Loans Specialist, contact them today.
We’ll get an understanding of your needs and current financial situation, following which we will request a copy of your credit report. (Learn why your credit score is important). Our specialist consultants assess the information provided in this interview, along with the documentation requested to calculate your indicative personal affordability based on your disposable income and expenses.
What happens next?
Within 24 hours, you will receive a home loan pre-approval certificate from us. This estimates the maximum amount of money a bank is likely to loan you. The amount and other terms & conditions are valid for 90 days, and could change depending on your individual circumstances, as well as prevailing interest rates/economic conditions. Our specialist consultants will explain the detail of your certificate to you and remain in weekly contact to keep you up to date on the progress of your house-hunting journey. You can show estate agents this certificate and include it as a part of your offer to purchase to a seller.
The GetGo Home Loan Pre-approval does not guarantee that a bank will give you a home loan. It is subject to a successful application to a home finance lender within their current product and lending policies (including affordability and credit checks, property valuations). Learn how to improve your credit score.
