Applying for a Home Loan

For most of us, buying a home is the biggest investment we will ever make. It can hard to know where to start when it comes to applying for a home loan, but most financial organisations will help you with the process.  Generally, you will have to meet the following criteria:


  • You have to be 18 years or older, or be an emancipated minor
  • You have to earn a single or joint gross monthly salary of R3 500 or more
  • You need to have a transaction account into which your salary is deposited
  • You will have to supply certain documents, such as proof of income, three months’ bank statements and a list of your assets and liabilities.

If you want to pay your home loan off sooner, try and pay a little extra into your home loan account every month, as this will help you to reduce the interest and shorten the term of your loan.