Pre-Qualification Certificate allows you to know exactly how much you can afford to borrow and determine a realistic price range when searching for a home
Pre-Qualification Certificate shows sellers that you are a serious and qualified buyer and gives you an advantage over other potential buyers who are not preapproved.
With a Pre-Qualification in hand, you can confidently focus on homes within your price range.
With a Pre-Qualification, you have a clear understanding of interest rate and down payment requirements. This helps us negotiate better terms with the banks and potentially save money in the long run.
Having completed the initial mortgage application steps in Pre-Qualification, the closing process can be sped up, saving time and minimizing potential delays or complications in home buying.
That’s why its is best to do Pre-qualification through us. This will allow you to make an informed decision also keeping in mind that you as the Buyer will be liable to pay the legal, bond and transfer fees, before registaion of the Property.
Also take in consideration that over and above the normal monthly bond repayments you will be liable to pay the monthly utilities as well as the rates and taxes, and Insurance to cover the property.
Doing a credit check is vital as it is one of the most important factors in your home buying journey. Your credit score is determined by the Credit Bureau based on your financial history. Banks will check this score to determine what interest rate they will charge you and whether your loan will be approved.
A score of 600 or more is good, while a 670+ is considered excellent. It’s advisable that if your credit score is too low, to take the time to improve it before applying again.
Your name will be flagged by the credit bureau, and added to a blacklist if you are unable to pay off debts, and it will be more difficult for you to get loans in the future. The easiest way to clear your name from the credit bureau is to pay off the debt and you can request your creditor to write to the credit bureau to notify them that the debt has been paid. If you are concerned about the probability of being blacklisted, you can check your credit record to see what your standing is. We can provide you with your credit score if you apply for home loan prequalification.
If all the necessary documentations been received, bond approval in principle will Usually happen within a couple of days.
Bank can send an evaluator to property to do evaluation which after final grant will be offered and it can be different from the initial offer.
Depending on the circumstances and due dates for the bond grant, and on the guarantees stipulated in the deed of sale. The average for most sales is about three months. Without complications, registration can happen within two months. Registration can be delayed if there is any complications and you will need to stay in touch with your conveyancer.
You will start paying your bond about a month after the bond is registered. Which specific date of the month your account gets debited can be discussed with the bank. The bank should also contact you after the bond is registered to confirm the date of the first payment.
4 Columbus Cres, Norscot,
Sandton, 2055
Office 1, 1 Rossini Blvd,
Vanderbijlpark S. W. 1, 1911
Email: hello@matcher.co.za
Phone: 011 568 9248 or 082 929 5280
Hours: Mon- Fri 9:00AM – 5:00PM
