You are here: Home > Facilities
All posts from

ooba.co.za : Apply for a New Home Loan

Organisation : ooba
Head Quarters : Cape Town
Type of Facilities : Apply for A New Home Loan

Website : https://www.ooba.co.za/apply-home-loan/new-home-loan-application

OOBA Apply for a New Home Loan

** To apply for a new bond, simply complete our quick home loan application form below and a consultant will contact you at your convenience to complete the process.

Related : EC Finance Apply for Loan : www.southafricain.com/3169.html

** ooba makes applying for a home loan as simple as possible with the quickest turn-around time.
** Let one of our experienced Home Finance Experts find the best home loan deal for you.
** Take the first step towards owning the home you have always dreamed of.

How do I best use my access facility as a savings mechanism?
** An Access Facility on your mortgage loan allows you to be able to deposit extra funds to your home loan that you have over and above the minimum required installment and is a very effective way to save as, by reducing the outstanding balance on your mortgage loan, you will reduce the interest that you pay.

** You are therefore effectively saving at the bond interest rate, which is considerably higher than the interest earned on a savings account at a financial institution, whilst still permitting you the flexibility of withdrawing your savings when needed.

** Naturally, by exercising the discipline of not withdrawing your savings, your will be making capital repayments to your loan, which will enable you to repay the loan over a shorter term, resulting in a saving of total interest paid.

How can I reduce the interest and the loan term i.e. amortization?
** Interest on a mortgage loan is calculated daily and compounded monthly on the outstanding balance.

** Therefore, should you make additional repayments to your home loan over and above the minimum required installment, you will reduce the outstanding balance and reduce the interest you pay.
** This will enable you to repay the loan over a shorter term, resulting in a saving of total interest paid.

Do I have to take a 20 year term?

** You can apply for any loan term up to a maximum of 30 years.
** The shorter your loan term on your home loan, the higher your monthly instalment repayment will be but will result in a saving of total interest paid in comparison to a longer term loan.
** ooba Has a host of home loan calculators and other resources available to help you determine the potential cost of your home loan when planning and budgeting.

What interest rate can you obtain for me from the bank?
** As part of ooba’s service offering, we will negotiate a competitive rate for your home loan from the bank.

** The bank will base your rate on your credit risk profile, the size of your home loan and the size of the deposit you are placing.
** ooba Has a host of home loan calculators and other resources available to help you determine the potential cost of your home loan when planning and budgeting.

Contact Address

8th Floor, ooba house,
33 Bree Street
Cape Town
8001

Leave a Reply

How to add comment : 1) Type your comment below. 2) Type your name. 3) Post comment.

South Africa Jobs, Scholarship, Contest, Admit Card, Exam © 2021

Contact Us   Privacy Policy   SiteMap