Welcome to GPF Mortgage!
IIf you’re looking for a Standard bank home loan and would like to get your loan approved quickly and hassle-free you’ve come to the right place.
GPF Mortgage can help you to avoid disappointment, frustration and wasted time by getting your Std bank home loan approved. You can sit back and relax while we do all the “fighting” in getting you the best mortgage that is right for you
Standard Bank Home Loans: What Options Do You Have?
There are three popular home loans:
- Standard Home Loan
- JumpStart Home Loan
- DreamStart Home Loan
There are also other types of loans that banks (Standard bank, Absa, Nedbank) offer such as:
- Readvance Loan
- Further Advance Loan
- AccessBond Facilities
- Business Mortgage
- First Mortgage
- Fully Guaranteed Lending
- Second Mortgage
- Reverse Mortgage
- Refi Loans
How do I know if need a Std Bank Home Loan?
A standard home loan is a traditional home loan which is suited for borrowers who have the necessary funds available to pay for upfront fees.
How does a Standard home loan work?
You will need a satisfactory credit record with no late payments on your account. Proof of income as always would be needed. Fixed and variable interest rates are available with repayment terms up to 30 years
How do I know if need a JumpStart Home Loan?
If you earn more than R6,000 per month you can qualify for a Jump Start loan. Jump Start home loans are ideal for first time home buyers and middle to high-income borrowers.
You can qualify for a JumpStart home loan even if you don’t have enough money for a deposit.
How does a JumpStart Home Loan Work?
- Fixed rate mortgage: If you choose a fixed rate home loan you have to know that your monthly repayment will stay the same irrespective if interest rates go up or down.
- Variable rate mortgage: With a variable rate home loan your monthly payments will go up and down depending on the interest rate changes.
- Payment holiday: With this option you only make your first instalment three months after your bond has been registered. That’s why it’s called a payment holiday.
Some of the options include lower interest rates depending on whether you have a deposit or not. Costs that might be included are bank initiation fees, bond and transfer costs (transfer duty).
Apply For A JumpStart Home Loan Now
How do I know if need a DreamStart Home Loan?
If you are a house buyer with an income of less than R6,000 a month you can qualify for a Dream Start home loan from Standard bank. This is one of the most popular Standard bank home loans for lower income earners.
How does a Dream Start Home Loan work?
Dream start loans go up to 100% of the purchase price of the property you would like to buy. The purpose of these loans is to make financing more affordable to the average South African.
By making regular payments on your bond you will have AccessBond facilities as soon as you owe less than 80% of the value of your property. If you can afford to pay extra money into your bond account you will save money on interest and pay off your home loan faster.
Apply For A Dream Start Home Loan Now
How does the SecuraRate Work?
SecuraRate is basically a fixed rate option which you can use to protect you from rising interest rates.
Standard bank used to have a capped rate option as well where they would cap your rate at a maximum interest rate to protect you against interest rate increases.
This was almost the same as the fixed rate option, but with the added advantage that you could also benefit if interest rates went down. Unfortunately this option is not available anymore, despite what you may read on some outdated websites and blogs.
What is a home loan Pledge?
A Std bank home loan pledge is an indication of the amount that Standard bank may lend you to buy a home. The emphasize is on the word “may” which means they may decide not to give you the loan even if you do have a home loan pledge.
If you read through Standard bank’s terms and conditions you will note that they put a lot of emphasis on the fact that a pledge does not constitute a fixed offer from them.
In other words, they may still decide not to give you a home loan.
Is a home loan pledge a pre-approval?
No, Standard bank makes it quite clear that a pledge is not a pre-approval. In other words, they are not committing themselves to your transaction. Std bank is simply saying that you may qualify for loan but they’re not committing themselves to that loan in any way whatsoever.
What’s the purpose of a home loan pledge?
Well, the idea behind a pledge is for you to call the bank and that they can give you a piece of paper to try and commit you to applying for Std bank home loan through them. That’s it. A pledge is basically similar to quote over the phone…it’s means very little and is not worth the ink it’s printed on
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