ABSA Home Loans

Are you looking for a unique way to finance a new home? Absa Home Loans may be just what you are after. When you choose an Absa loan, you will have a number of products to choose from which you can customize with value-adds and options. Consider all when you go to make a purchase so you get the one that is right for you.

Home loan options offered include the Absa Building Loan, Platinum Home, Pension Backed Loan, Gold Facility, First Time Home Loan and MyHome. With each loan, you will need to determine which type of interest rate you should select. Fixed and variable interest rates are offered along with Flexireserve, Further Advance, MultiPlan and FastForward. In addition to your home loan, you also have the option of doing all of your banking with the same company. Personal loans, cheque accounts, electronic banking and credit cards are offered.

Absa Home Loans give you the option of financing any property that will be used as a residence. Most choose to extend their loan over a twenty year period although you have the option of repaying over 30 years. If you are purchasing vacant land, repayment must be completed in 15 years. The loan may be up to 110% of the value of the land and a higher value bond may be registered for as much as 50% above the value of the property being purchased. Choose your repayment method and increase or decrease your loan term at any time. All qualification criteria must be met to obtain a loan of this type.

The First Time Home Loan is perfect for those who wish to add registration and transfer fees into the loan itself. This option allows you to borrow 108% of the value of the property for this purchase and you may repay the costs in a reduced time period to pay less in interest. With this loan you must obtain life insurance while retrenchment cover and added disability are offered. Choose options and value-adds which best meet your needs and provide no money up front. As with all Absa Home Loans, you must meet certain requirements to obtain this type of loan.

Would you prefer to build your dream home? Absa Home Loans offers the Absa Building Loan for just this purpose. Here you can purchase a vacant lot and build your home to your specifications. As you need funds to move forward on the project, they are released into your special loan account. You will not be required to start repaying this loan until it is paid out in full and additional funds may be added using a program known as FlexiReserve. Choose your repayment method and register a bond for up to 50% over the property value. The options are up to you so you get a loan that is as unique as your home is. All qualification criteria must be met here also. Talk to a loan origination specialist to see which is right for your purchase as they can assist you in customizing the loan to obtain exactly what you need.