Well they are totally true. Many people have been applying for 100% loans but have only been granted 70% or 85% which still leaves them way out of pocked for the rest, and that’s not to mention the transfer and registration fees that must still be paid.
The good news however, is that it’s only a horror story if you are working with someone that is not experienced enough to determine where to place the bond and not.
Also, it’s best to give a client realistic expectations from the word go.
Therefore, work with an experienced mortgage broker who will be able to offer you sound advise and give you realistic expectation.
100% home loans are not that easy to get these days, but it can be done.
If your joint income is less thanR16 000 pm you shouldn’t have a problem because you should be able to get a cost included bond providing you meet the minimum criteria.
Contact us for more information on how to get no-deposit or low deposit home loans
