How do I apply for a home loan?

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What you need to know

If you are getting ready to buy a home, the first thing you want to do is to have all the required documents ready to apply for a home loan - this will allow the process to go much quicker. It is worth noting that there are standard documents you require, but depending on your lender and purchasing method you might require additional documentation. We cover all the documentation required by most financial institutions in South Africa.

There is nothing quite as exciting as buying a home and while taking this big step can feel daunting when you look at all the paperwork involved, having all your documents ready will not only take away some of the stress, it will also help smooth over the process.

Here is a run-down of the documents you will need for a home loan application and additional documents required if you are buying through a trust. We also take a look at individuals that are self-employed.

Documents you require for all applications

  • A copy of your ID document
  • A copy of the offer to purchase containing both the seller and purchaser’s details
  • Proof of income. You will need to provide a salary slip (not older than two months), or a letter from your employer with a breakdown of your salary and deductions. If you are self-employed then you will need a letter from an accounting officer confirming your income, or a statement of your assets and liabilities
  • Six months’ worth of bank statements

Employed buyer

  • If your earn commission or overtime, provide the latest 6 months statements. Statements should be verified and supplied by the bank - internet statements aren’t acceptable.
  • Copy of your ID document.
  • Copy of Marriage Certificate or ANC Contract (if applicable).
  • Application form and consent document.
  • Copy of the Purchase Agreement.

Self-employed buyer

  • Proof of income: Letter of Drawings from an Accountant (for all applicants if applicable).
  • Personal Assets & Liabilities Statement.
  • Latest 2 years' Annual Financial Statements.
  • Where Annual Financial Statements are older than 6 months to date, Current Management Accounts not older than 2 months signed by the applicant and accountant must be provided in addition to the Annual Financial Statements.
  • Copy of Marriage Certificate or ANC Contract.
  • Copy of Registration Documents or Trust Deed.
  • Application form and Consent Document
  • Copy of Purchase Agreement.

Documents you require for a trust

  • A copy of the Trust Deed
  • A resolution by the trustees advising who may sign the home loan or pre-approval application and property purchasing documents

MyProperty’s Bond Calculator will allow you to get an estimate on your monthly bond repayments.

Where do I apply?

Get pre-qualified or apply for a home loanby using our team of trusted home loan experts