Here’s what you need to know, and what you’ll need to apply
At Absa, we are committed to helping you achieve your dream of owning a home. With our transparent application process, user-friendly tools and dedicated team, you'll find that securing your home has never been more accessible. So why wait?
Before you dive into the world of homeownership, it's important to understand the basics.
Absa welcomes a wide range of applicants:
Individuals: If you're looking for a home loan as an individual, Absa is here to support you on your homeownership journey.
Joint applications: You can also apply with another person, making it easier to share the responsibilities and joys of homeownership.
Legal entities: Absa provides options to help businesses or trusts secure a property that suits your needs.
Nick Banks
Nick Banks
1. Start by using the Home Loan Pre-qualification tool to determine how much you can afford when buying your dream home.
Absa offers a Home Loan Pre-qualification tool that empowers you to make informed decisions about your potential home purchase.
2. Once you've completed the pre-qualification process, you'll receive a certificate that can bolster your offers for a new home, ensuring that sellers and agents take your bid seriously.
3. With the tool's results in hand, take the step of getting pre-qualified. This will provide you with a clear understanding of your budget and financial capacity.
4. Once you're pre-qualified, you can confidently search for your dream home, knowing that your budget aligns with your aspirations.
Here’s what you’ll need:
Income details: Provide your gross and net income to help Absa assess your financial situation effectively.
Expense details: This includes your loan commitments and variable living expenses.
Specific documents: Depending on your application, you may need to submit specific documents. For detailed guidelines, refer to the link below.
For loan switching: If you're switching an existing home loan from another bank to Absa, you'll need the estimated market value of your property and the outstanding balance of your current home loan.
Below is the list of documents you’ll need to apply for an ordinary loan, building loan or legal entities:
Standard
· Offer to purchase
· Identity document (South African ID/Foreign national passport/Temporary resident permit)
· Three months’ bank statements
Proof of income
· Six months’ pay slips (latest and consecutive)
Newly appointed
· Employment contract
Building Loan
· Building contract, building plan, builders NHBRC certificate, bill of quantities, tender and schedule of finishes
Legal entities
· Two years consecutive financial statements signed by either a registered auditor, chartered accountant or accounting officer
· Unqualified letter from registered accountant/bookkeeper
· IT34 (Exceptional circumstances)
· Three months' business account bank statements
· Three months' personal bank statements
Applying for a home loan with Absa is hassle-free. You can either fill out the convenient online application, or reach out to our dedicated team on 0860 111 007.
T’s & C’s apply. Absa is an Authorised Financial Services Provider and Registered Credit Provider.
Reg No. NCRCP7
Owning a home is within your reach with Absa Home Loans.
Enjoy the simplicity, flexibility and great benefits that come with our tailored solutions. Let us be your partner on the journey to homeownership.
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