African Bank Home Loans

Many prospective home owners wonder if African Bank Home Loans is a viable option for their bond, but unfortunately no such service exists at the moment. When you are choosing from the main home loan providers in South Africa you need information. You want to know about the loans they offer and other products that can enhance and/or protect your home loan.

Products Offered By the 5 Primary Home Loan Providers in South Africa

SA Home Loans

Interest Only – repay only your loan interest
Edge – Pay the lowest payment (interest only) for 3 years then revert to standard payments
Variable Home Loan – Competitive interest rate options
Varifix – Fixed rates to protect you from rate hikes

Nedbank

Ordinary Home Loan – Up to a 30 year repayment plan and 100% financing may be available. Fixed and variable rates are options with this plan.
Alphabond – This is their first-time home buyer plan. It is designed for those first timers who do not have the funds to pay the initial costs of buying a home.

Standard Bank

DreamStart – This loan is designed for people with lower incomes. The standard term for this loan is 20 years and financing is for up to 80% of the property’s purchase price
JumpStart – This option is for first time buyers without the finances to pay the initial expenses of buying property. Loan terms of up to 30 years and financing can be up to 100% of the price of purchase
Ordinary Loan – This is a traditional loan for people with all the finances to cover the initial upfront fees and costs of buying a home. Terms of up to 30 years are available and financing of up to 100% is available
Cost Inclusive – This home loan is for non first time home buyers who do not have the money to pay for the transfer of property and other fees. Loan terms are granted for up to 30 years and with 100% financing where possible

FNB – First National Bank

Traditional Home Loan – This loan is ideal for with the finances to pay a deposit and any other initial fees for property transfer and registration
Bond Plus – Bond Plus is designed for first time buyers that do not have the finances to pay the traditional upfront fees required for most other home loans

Absa Bank

Absa Home Loan – Provides loans of up to 110% of the value, repayment terms from 20 to 30 years on homes and 15 on vacant land
Absa Building Loan – This loan offer a way to buy vacant land for building your residential property
First Time Home Loan – Offers first time home buyers a way to finance up to 100% of the property price without having to pay the traditional upfront fees
Platinum Home – Premium and preferential options for buying or building a home
MyHome – Home loan specifically for buyers with a joint income of R6000.00 or less per month
Pension Backed Loan – This plan is a non-mortgage option that allows you to secure a loan against your pension fund
Gold Facility – This is a bundled product account with cheque account, home loan and electronic banking

While African Bank Home Loans does not exist yet, the home loan providers in South Africa include various options to suit the needs of almost any home buyer. You will want to consult with an expert before choosing your home loan solution.