Do I Qualify?
| Minimum Requirements Application Check List | ||
| Absa client yes/no | ||
| Full Time Employed – All Applicants | ||
| Latest Payslip | ||
| For Overtime to Be used 3 months payslip | ||
| For Commission to be used 6 months Payslip/ Commission Statement | ||
| 3 months Latest Bank Statements supporting Income – Non Absa Clients | ||
| Clear Copy of ID Document | ||
| Fully Completed and Signed Offer to Purchase if New Loan | ||
| If Unbonded : Copy of Title Deed | ||
| Schedule of Income and Expenses | ||
| Rental Scheduled if Multiple Properties Owned, | ||
| Must Depict -Institution Held, Current Bond Balance ,Bond Instalment, Rental Received, Perceived Market Valuation | ||
| Self Employed and Other Legal Entities | ||
| Proof of Income eg. Account Letter | ||
| Latest Signed Financials | ||
| Latest Management Accounts | ||
| 6 Months Personal Bank Statement | ||
| 6 Months Business Bank Statement | ||
| IT34 – On request from Credit | ||
| Clear ID Copies of Members/ Sureties etc | ||
| Schedule of Personal Income and Expenses | ||
| Rental Scheduled if Multiple Properties Owned | ||
| Must Depict -Institution Held, Current Bond Balance ,Bond Instalment, Rental Received, Perceived Market Valuation | ||
| In Addition to the Above: | ||
| Depending On the Legal Entity the Relevant Company/ Trust docs etc are required | ||
| Building Loan Documentation : New Buildings & Further Building Loans | ||
| Quotation | ||
| Copy of Approved / Provisional Plans | ||
| Building Contract | ||
| Minimum Specifications and Schedule of finishes | ||
| NHBRC Certificate | ||
| Waiver of Builders Lien | ||
| Please note that in addition to the above, credit may request additional information | ||
| To Ensure that your Application is Processed correctly, please ensure the relevant Documentation | ||
| is Included as it causes delays when applications are incomplete. | ||
| The First Fully Completed Application received will Proceed, all other apps will be withdrawn | ||
| Incomplete apps will be withdrawn if the requested information is not received within 2 Days | ||
| QUALIFYING CRITERIA | ||||||
| BOND RATE OF 9.50% OVER 30 YEARS | ||||||
| BOND AMT | REPAYMENT | MIN INCOME | BOND AMT | REPAYMENT | MIN INCOME | |
| 50,000.00 | 420.50 | 1,401.67 | 740,000.00 | 6,223.40 | 20,744.67 | |
| 60,000.00 | 504.60 | 1,682.00 | 750,000.00 | 6,307.50 | 21,025.00 | |
| 70,000.00 | 588.70 | 1,962.33 | 760,000.00 | 6,391.60 | 21,305.33 | |
| 80,000.00 | 672.80 | 2,242.67 | 770,000.00 | 6,475.70 | 21,585.67 | |
| 90,000.00 | 756.90 | 2,523.00 | 780,000.00 | 6,559.80 | 21,866.00 | |
| 100,000.00 | 841.00 | 2,803.33 | 790,000.00 | 6,643.90 | 22,146.33 | |
| 120,000.00 | 1,009.20 | 3,364.00 | 800,000.00 | 6,728.00 | 22,426.67 | |
| 130,000.00 | 1,093.30 | 3,644.33 | 810,000.00 | 6,812.10 | 22,707.00 | |
| 140,000.00 | 1,177.40 | 3,924.67 | 820,000.00 | 6,896.20 | 22,987.33 | |
| 150,000.00 | 1,261.50 | 4,205.00 | 830,000.00 | 6,980.30 | 23,267.67 | |
| 160,000.00 | 1,345.60 | 4,485.33 | 840,000.00 | 7,064.40 | 23,548.00 | |
| 170,000.00 | 1,429.70 | 4,765.67 | 850,000.00 | 7,148.50 | 23,828.33 | |
| 180,000.00 | 1,513.80 | 5,046.00 | 860,000.00 | 7,232.60 | 24,108.67 | |
| 190,000.00 | 1,597.90 | 5,326.33 | 870,000.00 | 7,316.70 | 24,389.00 | |
| 200,000.00 | 1,682.00 | 5,606.67 | 880,000.00 | 7,400.80 | 24,669.33 | |
| 210,000.00 | 1,766.10 | 5,887.00 | 890,000.00 | 7,484.90 | 24,949.67 | |
| 220,000.00 | 1,850.20 | 6,167.33 | 900,000.00 | 7,569.00 | 25,230.00 | |
| 230,000.00 | 1,934.30 | 6,447.67 | 910,000.00 | 7,653.10 | 25,510.33 | |
| 240,000.00 | 2,018.40 | 6,728.00 | 920,000.00 | 7,737.20 | 25,790.67 | |
| 250,000.00 | 2,102.50 | 7,008.33 | 930,000.00 | 7,821.30 | 26,071.00 | |
| 260,000.00 | 2,186.60 | 7,288.67 | 940,000.00 | 7,905.40 | 26,351.33 | |
| 270,000.00 | 2,270.70 | 7,569.00 | 950,000.00 | 7,989.50 | 26,631.67 | |
| 280,000.00 | 2,354.80 | 7,849.33 | 960,000.00 | 8,073.60 | 26,912.00 | |
| 290,000.00 | 2,438.90 | 8,129.67 | 970,000.00 | 8,157.70 | 27,192.33 | |
| 300,000.00 | 2,523.00 | 8,410.00 | 980,000.00 | 8,241.80 | 27,472.67 | |
| 310,000.00 | 2,607.10 | 8,690.33 | 990,000.00 | 8,325.90 | 27,753.00 | |
| 320,000.00 | 2,691.20 | 8,970.67 | 1,000,000.00 | 8,410.00 | 28,033.33 | |
| 330,000.00 | 2,775.30 | 9,251.00 | 1,100,000.00 | 9,251.00 | 30,836.67 | |
| 340,000.00 | 2,859.40 | 9,531.33 | 1,200,000.00 | 10,092.00 | 33,640.00 | |
| 350,000.00 | 2,943.50 | 9,811.67 | 1,300,000.00 | 10,933.00 | 36,443.33 | |
| 360,000.00 | 3,027.60 | 10,092.00 | 1,400,000.00 | 11,774.00 | 39,246.67 | |
| 370,000.00 | 3,111.70 | 10,372.33 | 1,500,000.00 | 12,615.00 | 42,050.00 | |
| 380,000.00 | 3,195.80 | 10,652.67 | 1,600,000.00 | 13,456.00 | 44,853.33 | |
| 390,000.00 | 3,279.90 | 10,933.00 | 1,700,000.00 | 14,297.00 | 47,656.67 | |
| 400,000.00 | 3,364.00 | 11,213.33 | 1,800,000.00 | 15,138.00 | 50,460.00 | |
| 410,000.00 | 3,448.10 | 11,493.67 | 1,900,000.00 | 15,979.00 | 53,263.33 | |
| 420,000.00 | 3,532.20 | 11,774.00 | 2,000,000.00 | 16,820.00 | 56,066.67 | |
| 430,000.00 | 3,616.30 | 12,054.33 | 2,100,000.00 | 17,661.00 | 58,870.00 | |
| 440,000.00 | 3,700.40 | 12,334.67 | 2,200,000.00 | 18,502.00 | 61,673.33 | |
| 450,000.00 | 3,784.50 | 12,615.00 | 2,300,000.00 | 19,343.00 | 64,476.67 | |
| 460,000.00 | 3,868.60 | 12,895.33 | 2,400,000.00 | 20,184.00 | 67,280.00 | |
| 470,000.00 | 3,952.70 | 13,175.67 | 2,500,000.00 | 21,025.00 | 70,083.33 | |
| 480,000.00 | 4,036.80 | 13,456.00 | 2,600,000.00 | 21,866.00 | 72,886.67 | |
| 490,000.00 | 4,120.90 | 13,736.33 | 2,700,000.00 | 22,707.00 | 75,690.00 | |
| 500,000.00 | 4,205.00 | 14,016.67 | 2,800,000.00 | 23,548.00 | 78,493.33 | |
| 510,000.00 | 4,289.10 | 14,297.00 | 2,900,000.00 | 24,389.00 | 81,296.67 | |
| 520,000.00 | 4,373.20 | 14,577.33 | 3,000,000.00 | 25,230.00 | 84,100.00 | |
| 530,000.00 | 4,457.30 | 14,857.67 | 3,100,000.00 | 26,071.00 | 86,903.33 | |
| 540,000.00 | 4,541.40 | 15,138.00 | 3,200,000.00 | 26,912.00 | 89,706.67 | |
| 550,000.00 | 4,625.50 | 15,418.33 | 3,300,000.00 | 27,753.00 | 92,510.00 | |
| 560,000.00 | 4,709.60 | 15,698.67 | 3,400,000.00 | 28,594.00 | 95,313.33 | |
| 570,000.00 | 4,793.70 | 15,979.00 | 3,500,000.00 | 29,435.00 | 98,116.67 | |
| 580,000.00 | 4,877.80 | 16,259.33 | 3,600,000.00 | 30,276.00 | 100,920.00 | |
| 590,000.00 | 4,961.90 | 16,539.67 | 3,700,000.00 | 31,117.00 | 103,723.33 | |
| 600,000.00 | 5,046.00 | 16,820.00 | 3,800,000.00 | 31,958.00 | 106,526.67 | |
| 610,000.00 | 5,130.10 | 17,100.33 | 3,900,000.00 | 32,799.00 | 109,330.00 | |
| 620,000.00 | 5,214.20 | 17,380.67 | 4,000,000.00 | 33,640.00 | 112,133.33 | |
| 630,000.00 | 5,298.30 | 17,661.00 | 4,100,000.00 | 34,481.00 | 114,936.67 | |
| 640,000.00 | 5,382.40 | 17,941.33 | 4,200,000.00 | 35,322.00 | 117,740.00 | |
| 650,000.00 | 5,466.50 | 18,221.67 | 4,300,000.00 | 36,163.00 | 120,543.33 | |
| 660,000.00 | 5,550.60 | 18,502.00 | 4,400,000.00 | 37,004.00 | 123,346.67 | |
| 670,000.00 | 5,634.70 | 18,782.33 | 4,500,000.00 | 37,845.00 | 126,150.00 | |
| 680,000.00 | 5,718.80 | 19,062.67 | 4,600,000.00 | 38,686.00 | 128,953.33 | |
| 690,000.00 | 5,802.90 | 19,343.00 | 4,700,000.00 | 39,527.00 | 131,756.67 | |
| 700,000.00 | 5,887.00 | 19,623.33 | 4,800,000.00 | 40,368.00 | 134,560.00 | |
| 710,000.00 | 5,971.10 | 19,903.67 | 4,900,000.00 | 41,209.00 | 137,363.33 | |
| 720,000.00 | 6,055.20 | 20,184.00 | 5,000,000.00 | 42,050.00 | 140,166.67 | |
| 730,000.00 | 6,139.30 | 20,464.33 | 0.00 | 0.00 | ||
