Tag Archive: faq

Do Lenders Consider Rental Income As An Additional Income Source?

Usually the banks use your monthly/weekly gross salary to determine your maximum loan amount. In some cases you might receive rental income from another property or a flat. Each bank has their own criteria and method to calculate the rental income when evaluating your application, so there is no definitive answer in this case, but I will try to explain the trend below.

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Will I Qualify For A Home Loan?

The lenders in South Africa are quite strict when it comes to their lending criteria, but don't let that deter you from applying.

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What Documents Are Required For A Home Loan?

When you apply for a home loan, the banks/lenders will require some documents to assess your application.

It is important that these documents are clear and legible to avoid any unnecessary delays with your application.

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What is an Offer To Purchase?

An Offer to Purchase is one of the most important documents when purchasing property. This document contains all the information about the parties involved, the property being sold, details regarding the sale, any specific conditions and also the price offered and accepted.

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