How to get a 100% home loan – zero deposit!

How to get a 100% home loan – zero deposit!

With the aid of ooba mortgage loans, South African homebuyers have a chance that is great of a mortgage with out a deposit. Here’s what you ought to understand.

Article summary:

  • Homebuyers whom lack the funds for a deposit have actually another choice offered to them: the 100% mortgage, or in other words, a true mortgage without any deposit needed.
  • Banking institutions in Southern Africa are approving more100% mortgage loans, so as to improve the home market.
  • Although placing straight down a deposit has its own advantages, the 100% mortgage loan gifts first-time house purchasers, whom could have limited resources, having a viable means in to the home market.

While there are numerous advantageous assets to placing straight down a deposit on your own house, in today’s tough climate that is economic may be much more practical to obtain a 100% relationship, particularly if you’re a first-time customer would you not need comfortable access to a deposit.

Certainly, you’re not alone if you fall into this category of homebuyer. In accordance with Kay Geldenhuys, Head of Sales Fulfilment at Southern Africa’s largest mortgage loan comparison solution, ooba mortgage loans: “More than 60% of the many applications received by ooba mortgage loans come from purchasers who possess no use of a deposit”.

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