First things first – if you have seen the home that dreams are made of and cannot get the picture of your Grandmother’s couch being in a certain corner, you know exactly where to place the armoire you found at that little junk shop in Clarens and can visualize where you are going to plant the irises and tulips; this means you have seen your dream home.
Bond originators are there to transform dreams into realities.
What is it that bond originators do and why not go the D.I.Y route?
- Bond originators assist you by negotiating with all the major lenders on your behalf, thus taking the fear out of applying for a bond.
- The service of a bond originator is free to you, the applicant – this is because bond originators get paid by the banks.
- This means less leg-work for you and a lot less admin for you, the client.
- Even where the home-buyer has a really good, strong relationship with their own bank, bond originators allow for room to shop around for the best deals and to look around at all the other banks simultaneously, getting you the best deal there is.
- Some banks are no longer allowing bond originators to act on your behalf, therefore it is advisable to first ask the originator who they represent.
Some tips when applying for a loan:
- A lower interest rate can equate to a substantial saving as it is a benefit that is locked in for the full duration of the loan.
- The slightest difference of half a percent can and will make a massive difference in savings – take a careful look at interest rates when taking out your bond.
- Always have your documentation ducks in a row.
- And last but not least – can you really afford the home loan?
Buying a home is an investments but it is not just money you are investing in and also remember that negative credit records, bad debt and stricter requirements will impact when applying for a home loan.