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We do loans up to R4 000

Found That Perfect House? Now You Need A Home Loan!

Buying a house is both incredibly exciting and quite terrifying. It is a huge investment and like most expensive purchases, few of us actually have the money to simply put down. Luckily, home loans are available to assist us in turning that house buying dream into a reality.


Home loans are the best way to ensure that you can buy that home you’ve been eyeing, while not having to file for bankruptcy at the same time. Based on your household income, home loans can be calculated fairly, with a lower interest rate and a decent amount of time to pay it back. It doesn’t matter if you are a first-time buyer or a professional property investor, home loans give you the financial freedom to make that all important purchase.

Advice for First Time Home Buyers

First of all, congratulations! Buying your first home is a big deal and a rite of passage for many people. A lot of people never get to this point, but you are here and that is something you can really celebrate. Your first home is going to be the place where you make many memories and have your first experience in owning and maintaining your very own piece of real estate.

This is, without a doubt, one of the biggest investment decisions you will ever make. So it is understandable that there will be a lot to consider, many things to tick off and a considerable amount of nerves in the process! You’ll have many questions in need of answers and perhaps even a little doubt in your decision making.

Everyone gets the first time buyer jitters.

We are here to help you though. We want to make sure that you get the dream home you have always wanted, so we are more than happy to ease your fears and help you with your decision. You don’t want your first home purchase to be mired in stress because of financial constraints you might not have considered. It’s all about balance; making sure that you have the financial standing to afford the payments in such a way that it doesn’t become a monthly burden.

This means that before you jump headfirst into a home loan, you need to decide whether or not you are fully ready to commit to the monthly repayments. This is going to be a big, ongoing expense each month and your financial stability will ensure smooth going with the loan. You need to make sure that you have a steady salary, and that you are secure in your job. Should you be self-employed or just starting up your own company, you might find that now is not the best time to be committing to such a big investment.

And that is okay!

Our experts will calculate how much you will need to be paying back per month, a service that will help you to make the right decisions regarding your purchase as a first time home buyer. If you can afford to take out one of our home loans, you will also need to consider the other costs often associated with the loan, such as the deposit, home insurance, moving costs and rates.

Yes, it is a lot to consider, but you won’t be all on your own. Our consultants will be more than happy to lend a helping hand.

Quick Tips for First-Time Buyers

Now that you are house hunting and seriously looking at the various properties on the market, you might just find that these few tips come in handy.

  • Take your camera with you when you go house hunting, or maybe ask the real estate agent if you can have a copy of their photos. You are going to be seeing dozens of different houses along the way and it might be helpful to have a point of reference when making your final decision.
  • After looking at a home, write down what you like and what you don’t like about the property. Features, design and the size of the house will influence your decision making.
  • Find out more about what is in the area. Shops, schools and even hospitals could be in the vicinity and you need to decide if you would be happy living so close to such places. Remember, living near to a school when you have children can be a blessing in disguise, but a curse if you don’t have children and you have to fight your way through that traffic every day!
  • When you have a few houses that you really like, ask to go back and see these properties again. Sometimes a second viewing can help you make your final decision.
  • When you have settled on the home you are daydreaming about, you will need a mortgage to seal the deal. Look out for the real estate agent who tries to sway you to use a specific home loan provider. They could be getting a commission from the loan provider and you are probably not going to get the best deal.

Switching or Refinancing of Home Loans

Home loan refinancing can be one of the most effective ways to reduce your monthly repayments and strengthen your financial position.

It works like this.

Over time, the value of your property is going to increase, making your home more valuable than it was when you first bought it. When you refinance your home, you are taking out a new mortgage on your home based on the value it has now, rather than on what it was worth when you bought it. This gives you access to more equity and essentially it can ease your monthly payments.

Switching your home loan works in more or less the same way. We can assess your current home loan and determine whether it is more worthwhile to switch it over to us. This could mean that you end up paying less for your home loan than you were previously dishing out.

Are you entering the property market and find yourself in need of a home loan? Talk to the team at Budget Cash and allow us to help you make your favourite property your new home.