Loan Services >> Types of Mortgages

Types of Mortgage Loans

You won't believe the number of mortgage loans types there are out there. It's actually ridiculous. I work with these mortgage loan types day in and day out, but for the average Joe buying a property, or building on their existing property, they haven't got a clue!

What is a mortgage loan? Mortgage loans, otherwise known as, Bonds, Home Loans, Homeloans, Home Financing, Mortgages and Credit. The definition I've managed to swindle from the Wizard Mortgage Team was "Finance provided by the banks or finance lenders for the purchase of real estate. This finance is to be paid at a certain interest rate over a defined period of time".

What I thought would be nice was to give you guys a little breakdown of the types of mortgages and mortgage loans offered by various South African banks. You'll see allot of the banks will have the same type of loan just with a different marketing spin to it. Yes believe it or not those marketing GURU's at Standard Bank are working their butts of to come up with some good products and product names ;-)

Ordinary home loan

Your average bond that most home owners go for...

First time home buyer loans

Buying your first home? This is probably the home loan for you @ 108%...

Lower income buyers

For customers who fall into the lower income bracket.

Second/third & fourth time buyers

You obviously have too much money ;-)

Building loans

For buildings, not residential properties...

Sectional titles

It's the latest craze and a very popular loan in SA....

Foreign investors

Foreign investors looking to purchase real estate in South Africa...

Buy to let

If you're looking to purchase property to let...

Further Loan

An additional loan further to your existing loan.

Fractional ownership

Fractional Ownership is the collective ownership of a property. The latest craze in S.A.

Shareblock

For buildings, not residential properties...

Real rights

Collective ownerships of a property, another craze in S.A...

South Africans living abroad

South Africans living abroad wanting to buy in South Africa

Loans for CC's/Companies

Are you registering your company in a business?

Syndications

Buying property in a syndication

Foreign Investors non SA citizens

Wanting to buy property in South Africa and you're a non citizen, 50% loans offered by all major banks.

Standard Bank Business mortgages

Operating your business from a residential type property. This is the final mortgage in our mortgage loans section.


Types of payday loans - In cases of emergency, we usually do not have much time in hand to apply for the loan and then sit and wait for the loan money to be given to us. Today, with advancing internet facilities, loan amount can be directly deposited into your bank account within 24 hours of being approved.