I currently work at an entry level job , I wont go further into depth but I get just under R10K a month and have plans on taking out motgage to buy a house of R390k, no transfer duty and with goverment help of the First Home Finance Subsidy
Hello guys I am a 23y/o Male , still living with my parents.
I want to Finance a House so that I could pay it off by renting it out and they pay-off the bond.
I am currently saving up to a certain amount of capital say R30k to R40k , somewhere there along the line. So that I can have upfront money for any paperwork that I must pay incase I get approved for a home loan.
Since bankers want to see that you are reliable when it comes to spending.
Now I want to use FLISP as well to help pay off the Bond faster since this is my first time buying a property on my name and I do meet all the requirements.
I just want to know from other South Africans how they succeeded and what I must avoid in this process.
Please also tell me what Bank I must use for the lowest Interest Rate.