The Different Standard Bank Home Loans

The world of residential sales has been under attack in recent years. Home developers are making it harder for the average person to find a home to call their own. Standard Bank set out to make this process a little easier on the every day person. Standard Bank makes it easier for anyone looking for a home, they will offer loans up front with the Pledge loan so that the very act of looking for a home is easier.

They offer Jumpstart loans to people just getting out into the world looking to buy their first house. Uniquely the Standard Bank also offers a Dreamstart loan specifically designed to help those with lower incomes to get a roof over their heads. Standard Bank has set out to make it fair and easy for all of South Africa’s people to have a comfortable place to live and can make their way in life with as little stress as possible.

The Pledge loan is offered to those setting out into the real estate world to try to find that needle in the haystack. It is a pre-approval certificate in simple terms, a way to approve someone for a loan before they have even located a house. This makes the business end of the deal go much smoother since the loan needed for a home is already approved before the papers are even ready to be signed. Anyone can apply for the Pledge loan, it will inform a person if one will even be approved for a loan, as well as how much of a loan one would be approved for, and all before one has even begun looking for a new home. The Pledge loan will last for up to six months allowing for plenty of house hunting time, of course provided that ones situation has not changed from the date of issue from the bank.

Once a home is found however if it is ones first time purchasing a home the Jumpstart loan is offered. The Standard Bank requires an individual applying for this loan to have a monthly income of at least R6000.00, this as well as not owning a home previously is the major requirement to be accepted for a Jumpstart loan. Standard Bank assures customers that their interest rates will go unchanged for a minimum for two years and offer a three month payment holiday upon first moving in to make those first months out in the world a little easier. Depending on the deposit put on the home the interest rate is drastically effected and can be dropped dramatically, which is a very interesting and attractive feature to this loan. The Jumpstart loan also offers higher loans of up to 108% the value of the property.

The Dreamscape loan is for those out there who need a little extra help getting settled on their feet. The loan is designed for individuals with a monthly income between R1500.00 and R6000.00. Loans will be specific to a person’s situation, an employer can support the loan with a 20% collateral or other sources which can be arranged. If payments are made consistently and on time patrons are rewarded with lower interest rates.

Standard Bank home loans of course also offers a standard loan to the average person who has been living in the world but is looking to change homes, the SecuraRate loan. This loan worries about interest rates and one can choose to have it capped at a maximum or fixed at a set rate, each way will make it easier for the average home owner.