You’re just a step away from owning your new home. All you need now is fully understand the costs and have all documents to start your application.
Applying for a home loan
When you apply for a home loan we assess your application in line with the National Credit Act. Find out what’s involved.
The assessment process:
- We’ll authenticate your identity as well as your income and employment information
- We’ll validate the property details
- We’ll then process your application
- We’ll assess your credit worthiness
- Finally, we’ll let you know whether your loan was approved or declined
To avoid delays with your application, please make sure you send us the right information.
If your application is approved:
- You’ll receive an ‘approved in principle’ notice — this approval is subject to your acceptance of our offer
- If you accept the terms and conditions of the loan, the next step is a property valuation
- If we are happy with the valuation we’ll move you into the final grant stage, where your home loan application will be finalised
- After that we will instruct the registration attorneys to register your bond
- We’ll keep you updated on the progress until your bond is registered
If your application is declined:
You can query the decision with Absa. Reasons why your application might be declined include:
- Based on the information you provided, our calculations show that you cannot afford the loan that you have applied for.
- The management of your existing bank accounts indicates that further debt could affect your current affordability.
Did you know?