The Absa Home Loan is a flexible solution that may be ideal for:
- Purchasing a home
- Building a home
- Improving your existing home
- Using your home equity to manage your debt
- Using equity on your home to access additional funds
This loan provides you with the right amount of finance so you can afford to buy a home or renovate your home. By paying a 10% deposit upfront, you are able to shorten your repayment period significantly – not to mention the interest savings you can make.
To qualify for a home loan these days you have to have an impeccable credit history and be able to afford the repayments comfortably. Absa provides clients a number of options for their home loan needs. One of these is the ability to choose an interest rate payment option.
Absa offers clients an option to choose between either a fixed or variable interest rate.
The option to choose a fixed Absa Home Loan interest rate is available for a period of 5 years. With this option, your home loan interest rate stays the same for a specified period, regardless of whether the home loan rate rises or falls.
Choosing this option may help to improve your monthly cash flow management and budgeting. You’ll know exactly how much you can afford to repay on a monthly basis.
How it works:
An affordability assessment is conducted on an application.
You will be required to complete and sign a fixed interest rate option. The Absa Home Loan interest rate is based on your personal risk profile and the property details.
Choosing a variable interest rate is a good option if you think interest rates will be dropping in the short to medium term. Your repayments will be affected by fluctuations in the prime interest rate.
Visit www.absa.co.za or call Absa on 0860 111 007