Standard Bank Home Loans

For average individuals seeking to get a home of their own, it is increasing becoming difficult for them achieve their dream. This is usually as a result of the economy and the difficulties encountered when dealing with home developers and even estate agents. Consequently, Standard Bank embarked on making the process a lot simple by offering loans to the average individual. There is the Pledge Loan available up front for home seekers which makes the act of searching for a home easy.

The Jumpstart loan is also available for first home buyers just setting out into the real estate world. Also, there is the Dream start loan specially designed for low income earners hoping to get a home of their own. With this range of home loan options, it is clear that Standard Bank is committed to making it a lot easier and undemanding for all South Africans seeking to have their own home.

The Pledge loan is good for newcomers in the real estate world. It comes in the form of a certificate pre-approved for them. It is a way of approving an individual for a home even before he locates the home of his choice. An advantage of this loan type is that it makes the whole process a lot easier because the money needed for the house is already approved even before the papers are available to be signed.

When someone applies for Standard bank home loans, he is told if he will be approved and how much he will get. The person can then look for the house for up to six months. After this, he is able to get the loan as long as his financial situation has not changed since the time the bank issued the certificate.

After the home is found, the Jumpstart loan is offered if the applicant is a first time home buyer. A monthly income of at least six thousand rand and no previous home is expected for an applicant seeking to take this loan. The loan comes with a guarantee of a fixed interest rate for at least 2 years and the applicant won’t have to start paying until after 3 months. This is all geared towards making it a lot easier for the first time home buyers. The Interest rate is highly affected by the initial deposit on the home, making the loan a lot attractive. The loan also offers up to 108% the property’s value.

There is also the Dreamscape loan for the low income earners who need additional help to get their own home. The individuals for this loan have an income of between one thousand, five hundred and six thousand rand. The loans are administered based on each individual’s specific needs. A low interest rate is possible for those that pay timely and regularly.

Of course, the bank has loans for those with homes looking to buy new homes. This comes in the form of the SecuraRate loan. The interest rate is an issue here but there are options to make it a lot easier for loan applicants.

Therefore, irrespective of your income range, there is a Standard Bank Home loan for you.