Blacklisted and Home Loans in South Africa
Home loans and Blacklisted home loans
What to do. Where to go. What you need. Options.
Okay, so you have bad credit history due to a few mistakes you have made in the past. These mistakes have caused a negative reflection on your current credit history and prevents you from getting a loan. More specifically, you would like to buy a home but your bad credit history are standing in the way of you getting a home loan. The truth is, even with bad credit you are still eligible to get a home loan. Difficult in some cases, but very possible. So stop hoping and let's make this a reality. Whether you are looking for a blacklisted home loan or a non blacklisted home loan, you have come to the right place.
As we all know, South Africa is known to be a third world country. Poverty is a big issue and getting a home loan might not always be as easy as it seems. That is if you are a millionaire ofcourse. Whether you are looking for a new home loans, home equity loans, home loan rates, bank home loans, bad credit home loans, pre approved home loans, affordable home loans, debt consolidation home loans or home mortgage loans, we have it all !
In general, if you are blacklisted and in need of a home loan, rather forget about looking at Nedbank home loans, FNB home loans and ABSA home loans. These are leading financial institutions in South Africa and chances of getting approved for a bad credit home loan by one of these banks are zero to none. They have restrictions and certain requirements which makes it even harder if you have bad credit. If you find yourself in financial trouble and you are in need of a home loan or a home equity loan, rather take a look at bad credit home loan lenders.
A few bad credit home loan lenders in South Africa:
- Wizard Home Loans
- S.A Home Loans
- Tryfinance Financial Service
- Maverick Credit Solutions
If you are, however, not blacklisted and looking for a normal home mortgage loan, take a chance on applying to one of the leading South African Banks for a bank home loan. Since you are no risk to them, your chances of obtaining a home loan with one of these institutions are very good.
A few home loan institutions and providers in South Africa:
- ABSA Bank home loans
- FNB Bank home loans
- Standard Bank home loans
- Nedbank home loans
These are just a few of the more well known financial home loan providers in South Africa.
Firstly, there are two different types of home loans for people with bad credit. The first type is known as bad credit mortgage loans. These loans are for people trying to buy a new home and usually carry an interest rate of 10% anually. However, this will depend on your current credit ratings. The second type are known as home equity loans with bad credit. These type of loans are intended for people that already have homes. People taking these loans, generally take them when they need extra cash.
Whether you are looking for a bad credit or non blacklisted home loan, the application process is easy and very simple.
The following documentation are needed in both cases when applying:
- Green bar coded South African ID. (If you are South African).
- Latest 3 months bank statements.
- Latest salary advice (Payslip).
- List of all monthly expenses.
- Proof of residence.
- Also make sure you have a valid banking account in which your salary gets paid.
- Applicants should be over 21 years of age.
- Be permanently employed.
So now you have found a lender or two. Now take the time to know them. These sub prime lenders specializes in home loans for people with bad credit, so in addition they charge higher interest points than a traditional lender. Compare your given rates as online mortgage rates can differ with as much as 5%. On the long run, this adds up to thousands. So before deciding on which lender you are going with, first make sure to compare, examine and analyze them. A good way to do this is to find an online mortgage loan website. This is a convenient way of comparing rates and quotes. Again, take a look around this page !
If you really do want to get into a new home, don't allow bad credit to stop you. All it takes is some persistence since there are loads of sub prime lenders out there that can help you. All you need to do now, is follow through! Apply for your bad credit home loan today.
To apply for a home loan or a bad credit home loan now, please go here.
More Loan Options:
Home loans and Bad credit home loans
Debt consolidation loans
Blacklisted cell phone contracts
These home loans, home equity loans, blacklisted home loans and bad credit home loans are for people with or without bad credit in Johannesburg, Gauteng, Cape Town, Durban, Pretoria, Port Elizabeth and other major cities across South Africa.
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