If you are a first time home buyer and are not certain how to go about the process of purchasing your first home, then you have landed on the right article. Even though purchasing your first home may seem a daunting task, it need not be that difficult nor baffling. Standard Bank has you in mind, by explaining everything you need to know in detail, helping you get started. Their website is informative and all you have to do is click on the home loans section, or if you prefer you can speak directly to a consultant by calling them. All contact details are on their site.
In this section you will find everything you need to know about purchasing a home and also whether you qualify for the home of your dreams. On the site you will find a step by step guide, helping you through the process of calculating what you can afford , the house hunting process, the offer to purchase process and all of the other steps needed to be taken to lead you to the purchase of your dream home.
Home loan basics
Property does not come cheap, in fact for most people it is the most costly purchase they will ever make. Because people do not have this kind of cash on hand the make a loan at the bank with a promise to repay the bank with interest over a certain period of time.
Steps to acquiring your home loan
Standard bank has made it simple by giving you a step by step guide to acquiring your home loan and buying the home you can call your own.
The first thing you would need to ascertain is the price range of the property you can afford to buy based on your income, expenditures and other factors such as interest rates. Standard bank provide you with a tool called a home loan calculator which can help you make these assessments easily.
Step two: This is the fun step, it is time to go house hunting and search for a house that meets your requirements within your price range.
Step three: Now that you have figured out how much of a bond you can afford, and you have found your perfect house, you have to sign an offer to purchase form. This is a contract which has all the terms and conditions relating to the purchase and sale of the property.
Step four: Once you have negotiated with the seller and everything is to the satisfaction of both parties, you would then approach Standard bank for your home loan.
There are still further steps after this leading to the approval of the home loan and the purchase of your home. And Standard Bank has made all these steps clear on their site including, a definition of terms should you get stuck. If you have any questions along the way you can always contact a consultant and clarify certain points. Purchasing your dream home is an investment in your future and Standard Bank will help you every step of the way making the process as easy as possible.
Author Resource:
Danny Aaron manages the website http://www.isureins.co.za , a site devoted to providing you with the best information about Standard Bank home loans
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