By now I am sure that you have heard - interest rates are at their lowest levels in more that 50 years! That means that buying a home is more affordable than it has been for a long time.
Just look at the comparisons in the table below...
For the 4 years before 2020 the Prime interest rate averaged 10.25% - it is now 7% and the impact on the amount you qualify for is BIG!
The prime interest rate in South Africa has fallen from 10.25% in May last year to 7.25% today. That makes it the lowest home loan interest rate since 1964! For you it could mean a great opportunity to check out what you can afford...
So, your dream home is listed at R 1 000 000. It'll be a stretch to get the loan but maybe you can make it...
That is until you discover that that’s not all you will pay… the upfront costs are actually a total of...
Some people can afford to buy a home with cash. For the other 99% of us we need to get a home loan!
Here are the 3 most important factors that will determine if you will succeed