Nedbank Home Loans Make Your Dreams Come True!

Nedbank Home Loans Make Your Dreams Come True!

As little children, we start dreaming of our future. In our dreams we are married to the perfect husband or wife, with the most adorable children, a dog, two cats and a rabbit everything that goes with the most beautiful house in the perfect neighbourhood. In our dreams everything works out perfectly! We have no idea of technicalities such as interest rates, overdrafts, inflation and home loans!

Buying a house, especially for first time buyers is a very exciting experience! It does not matter whether you're searching for your dream home by driving around on a Sunday afternoon, having a look at all the houses on show, or searching through all the listings on the internet you will just KNOW when you've found the right place! A lot of estate agents reckon that the moment you walk into a place, you should already start picturing the house with YOUR furniture and curtains. If you cannot form that mental picture, turn around and walk out, the house is then not meant for you.

Herewith a couple of guidelines from Nedbank home loans for first time buyers:

Calculate how much you will be able to spend on your monthly repayments. Work out a budget for everything from the bond installment to the water and electricity, garden and refuse removal, levies, rates, taxes and any other expenses. It is no use buying a house if you won't be able to afford living there!

A basic rule of thumb is that you should not spend more than 30% of your monthly income on your bond installment. The professional staff at Nedbank Home Loans will be able to assist you with a detailed explanation on this.

The above guideline is not set in stone, as there are a lot of factors which influence the outcome of a home loan. In some instances first time buyers easily get a 100% home loan, in other instances not. Sometimes a deposit will be a prerequisite, other times not.

Your credit record also plays an important role when applying for a home loan. If you have any credit (credit cards, clothing accounts, personal loans etc) make sure that you never miss a payment as this will reflect badly on your credit record. Most institutions are very accommodating, so rather make a payment arrangement instead of just ignoring your statements. The last thing you want is to be labeled as a credit risk, as this will most definitely jeopardize your chances of getting a home loan!

Nedbank home loans have extensive experience in the home loan field as their many satisfied customers can testify of this!

By keeping the above in mind, searching for your dream house can be an exciting and fun experience! And with a good credit record and the right house at the right price, nothing should stand in the way of buying your dream house! Always remember that a home is where the heart is

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