What is the maximum home loan available in South Africa?

You can qualify for up to 108% home loan financing, depending on eligibility and affordability.

Can I get a home loan near me as a first-time buyer?

Yes, first-time home buyers in South Africa can apply for home loans online or at their nearest branch.

What does a 108% home loan cover?

A 108% home loan covers the full property price plus additional costs such as bond registration and transfer fees.

Who qualifies for a home loan in South Africa?

Individuals earning a stable income, including first-time buyers and joint applicants, may qualify for a home loan subject to credit approval.

Absa first-time homebuyers get 50% off bond registration fees

Name: Home Loan South Africa
Brand: Absa

Here’s what you get

Financing of up to 108%

Use the additional 8% for bond registration and transfer costs.

Great discounts

Save 50% on bond registration fees.

Free courses

Get access to a training course on homeownership.

Value-added services

Easily apply for comprehensive home insurance and more.

What you need to know

What you get
Financing of up to 100% and the possibility of an extra 8% towards transfer and bond registration costs. If your loan is approved for more than 100%, your loan term can be up to 20 years.

50% off bond registration fees when you use an Absa-approved attorney.

Free access to our training courses.

Access to financial planners at virtualadviser@absa.co.za

Easily apply for Homeowner’s Comprehensive Insurance to protect your home’s structure.

Apply for added protection with the Absa Home Loan Protector Policy, which pays off your loan if you pass away or become disabled.

Absa Home Loans customers with a monthly debit order and a minimum Home Loan balance of R50 000 or more will receive 85 points towards their Absa Rewards score.

Absa Rewards members could earn up to 30% real cash back on everyday purchases from our grocery, fuel, and health and beauty partners, depending on their Rewards Tier.

Terms and conditions apply.
Call me back
Discounts
Get 0.35% off your variable interest rate when you open an Absa Cheque Account (Gold Value Bundle, Premium Banking or Ultimate Banking) and deposit a minimum amount of R3 000 per month into the account.

To qualify for 0.50% off your variable interest rate, open an Absa Private Banking Account and deposit a minimum of R35 000 per month into the account.

For the variable interest rate discount to be successfully applied, you must make your first monthly repayment after your bond is registered via debit order from your newly opened account. Ensure that this payment is done by debit order so that your account does not fall into arrears.

Terms and conditions apply.
Housing subsidy

Households that earn less than R22 000 a month may be eligible for a housing subsidy. Learn more here.
What you need to apply
Your ID (a South African identity document or a passport, permanent residency permit or visa)

Three months’ bank statements (if you’re employed full time)

Six months’ bank statements (if you’re self-employed)

Proof of income requirements for:

Full-time employed:

Latest payslip (not older than two months)

Six months’ payslips if you have a variable income

Employment contract if you do not receive a payslip or have been recently employed.

Pensioners:

Proof of advice or letter of pension.

Self-employed:

Salary advice

Latest IT34 (last tax year).

Offer to purchase (if applicable).

Find out what your ideal home could cost

Use our quick and easy calculator to get an estimate of your monthly home loan repayment.

Calculate now

Frequently asked questions

What is the maximum purchase price to qualify for a loan of 108%?

R3.6 million.
What are the discounts and benefits?

First-time homebuyers receive a 50% discount on Absa panel attorney bond registration fees. Additional benefits include access to the free Borrower Education Programme, Absa insurance products and financial planning consultations.
What will the finance of 108% cover?

Finance of up to 100% for your home loan and an additional 8% to use for transfer and bond registration costs. You will then be liable for any shortfall (if any) thereafter.
Who can apply?
Any individual buying a home for the first time.

If you are doing a joint application (maximum two applicants), one of the applicants must be a first-time homebuyer.