4 Tips for you to make FNB home loans application far more easier"

Applying for a home loan is like playing cards its either you have the best hand or not. So how do you get the best chance of nailing a home loan?

 

The best way is to make yourself attractive prospect. Make yourself pleasing in FNB Home Loans' eyes. They should look at you and smile because they know they have found themselves a worthy client.

Banks and lenders judge their applicants based on a variety of factors. These are debts, credit scores, income per month and savings.

So if you want to be an attractive applicant you have set a plan to clean up any mess you've made under those factors. To get you on a good start here are some helpful tips to make your life easier.

 

4 Tips to an Easier Home Loan Application:

 

1. Start Saving like a Crazy Person:

 

From the very start you know you have to save when your opting for financial help. Banks want people who can put down a considerable amount in their down payment. For them, this means that you're serious and you have the means to pay them back.

For your side, a bigger payment now means lesser money to borrow which then means a much more easier task to complete which also means a much better chance of getting approved.

2. Strive to Settle and Finish Debts:

 

Debts are always a bad sign for lenders. They look at it as something that you have to pay for monthly with your home loan and that's not very reassuring. So the problem here is if you want a high value loan, they can't give it to you when you have revolving debts. So settle your debts and make yourself attractive.

3. Get a long term job with a salary that can pay off the monthly fees:

 

You need to have job that is capable of paying the monthly dues. With that said, if the bank doesn't see your current job capable they might doubt your application. 

4. Do not just play the game, be in it to win it:

 

You can look at the home loan application as a game. There are many factors or opponents that will get in your way. Your responsibility is to find ways to beat them. 

Find out what the banks are looking for and strive to make things work and match on your side. Give them something to work with. Settle your debts, review and fix your credit and credit score and get a job preferably long term and within the same line of work.

You can do a lot of things to improve your chances of loan approval. 

If things get too complicated for you,  you can always ask the help of a professional at the very start. You can hire a mortgage expert or a loan officer to help you with the whole process.

Don't just pass an application and pray to the heavens that it may be approved. Help yourself, help the bank help you. Prepare the necessary requirements to make things work.

Debt Consolidation - Is It a Viable Option?

Debt Consolidation is a way for you to ease your monthly cash flow. By doing debt consolidation you roll all your smaller debts and loans into one big loan.

Usually the debt consolidation loan is at a much better interest rate than the smaller debts and loans which not only make it easier for you to pay, but also makes brilliant financial sense.

Debt consolidation also ensures that you only pay one installment toward your debt each month and not a whole lot of smaller repayments.

If you have a home loan debt consolidation is quite simple to do. As long as you have enough equity in your property you should get a second bond and use that to consolidate your debt.

Many companies also do debt consolidation in the form of debt counseling and administration...be sure to educate yourself on what each of these mean and what the implication would be before signing anything.

To apply for debt consolidation simply click the link.

Review on the Advantages of Choosing SA Home Loans

SA Home Loans started granting bonds to South Africans since 1999 and since then has grown it's client base rapidly due to their innovative way of looking at home loans.

Some of the advantages of using SA Home Loans to get a bond approval are:

1. Criteria

They differ from normal commercial banks in that they will still consider you for a loan if you've had credit problems before, however, they need to be paid up and you must have the proof.

They have taken the stance that they will simply price the loan according to the client's criteria, but won't just give a NO if there is merit in the application.

Pricing the home loan would involve approving it at a higher interest rate or granting a lower amount or both, because of the risk involved.

Therefore, the applicant may only get a 80% bond.

2. Flexible Packages

Read the rest of this article about SA Home Loans <- here.

Review on SA Home Loans Options

Interesting post about SA Home Loans and what products they offer:

http://knol.google.com/k/knol/Search?q=review-on-various-sa-home-loans-options

Beware When consolidating debt

Always ask as many questions as possible, and if you can, get the advice of an independent person.

One of the pitfalls of debt consolidators is that they conceal Administration with debt consolidation.

If they put you under Administration it's a court order taken against you that for a certain period - minimum 5 years - you are not allowed to get any further credit anywhere.

They don't settle your debts!

These companies don't settle your debts, they simply make arrangements with the creditors to pay them off - unfortunately so much interest is charged that it's difficult to make a dent in the debt.

Make sure of your facts and always read everything before signing.

For more debt consolidation information visit our website on: www.globalproperty.co.za

How To Create A Debt Consolidation Plan

Debt Consolidation - Many people are in debt struggling to pay their monthly bills. Most people are looking for help in creating a debt consolidation plan in hopes to be able to afford their payments and still be able to live. Some people will go to a consumer credit counseling agency, but many people are learning how to do it on their own.

Having a debt consolidation plan, individuals can determine the best way to get out of debt. There are so many different methods to getting out of debt, but all of them require you plan it out and budget it correctly. This will also help the individual to stay out of further debt.

Click here to read the rest of this debt consolidation article...

Drop in Interest Rates

The banks have dropped their prime lending rate to 9.5%. What does that mean for you? Well, your R500 000 home loan will no longer cost you R4785pm but R4624pm
R750 000 home loan will no longer cost you R7177pm but R6936 pm
R1 000 000 home loan will no longer cost you R9570pm but only R9248pm.


This also means that if you want to refinance or take out a 2nd bond you'll qualify for a little bit more - now is the time, contact us today: http://globalproperty.co.za/contactus.html