Financing your dream home

Finding your dream home can be challenging experience, especially when it comes to applying for a home loan. Bond originators such as CKM Home Loans strive to get you the best home loan to secure your dream home and to accommodate your budget. CKM Home Loans takes the hard work out of home loan application, allowing you to sit back and relax while they negotiate the best bond agreement for you.

Home loans are serious long-term commitments that require extra consideration as it is an important transaction in securing your dream home. In having a partner such as CKM Home Loans; any person has the opportunity to find the best home loan deal to suit their requirements and budget.

Different home loans available:

Many people are not aware of the various home loans that are available, these variety of home loans cater for most peoples financing needs.

This home loan is dependent on the South African repo rate, therefore if the rate goes up it affects the interest on your home loan and your monthly payment will increase but it will decrease if the repo rate drops.

Your interest on your home loan remains fixed and therefore your payments are a fixed amount every month. However yo also do not benefit from a drop in the repo rate which would have decreased your monthly repayments.

This home loan includes the best of both worlds; your interest can never exceed a certain amount but you will still benefit from interest decreases. The qualifying criteria for these home loans is a lot stricter.

A bank will offer you a rate decrease annually or bi-annually irrespective of the repo rate.

Application for home loans:

If you are to apply for a home loan you should be aware of the criteria that will be taken into consideration.

This determines the ratio of home loan amount you are applying for and the value of the property. The lower the LTV ratio is the lower your interest rates will be.

The monthly repayments that you will be required to pay may not exceed 30% of the gross income, single or joint and this will determine the amount that will be available.

Is your credit history a good history with no outstanding debts or such like.

All these factors and more will be taken into consideration when application for home loans is done by any person seeking financial aid. Being declined for home loans can depend on a number of things but are mainly; inability to make a sufficient monthly payment, bad credit history or the strength of the investment should it be sold for any particular reason.

CKM Home Loans is committed to finding you the best home loan to suit your needs. They stay up to date with bank rules and regulations and frequently get invited to congresses and work groups from various banks and institutions. The service provided is fast, reliant and of first class standards. CKM Home Loans is the right company to facilitate your home loan application.