Why using a bond originator is the smart way to get your home loan finance
Category Property Advice
Applying for a home loan can be one of the most stressful times of your life. You're putting your life savings down on the deposit and facing a nail-biting wait for an answer on whether or not one of the banks will lend you the rest of the money you need to buy your dream home. Luckily, there's a simple way to make the process a lot less stressful: simply use a bond originator like End User Finance.
First things first: what is a bond originator?
A bond originator acts as a middle man between you (the home loan applicant) and the banks. They will assist you in compiling all the required paperwork and then submit it to all the major banks on your behalf. They will then help you compare the offers that you get and secure the best possible deal. The best news of all for would-be home buyers is that bond originators are paid a commission by the bank, and their service is free of charge to home loan applicants.
What can a bond originator do for you?
When you apply for a home loan, there's a stack of paperwork to be filled out. If you were to apply to each of South Africa's big four banks (or more) independently, you'd have to fill out this paperwork at least four times. With the help of a bond originator, you only need to fill in one set of paperwork and your application will go to all the banks.
The advantages of using a bond originator
As an individual, your application would just be another one in a big pile at the bank. Bond originators, however, have relationships with the banks and leverage those relationships to get you the best possible home loan deal. Each bank has a different appetite for risk, and while one bank may decline your home loan application, others may accept it and even give you a great interest rate.
Using a bond originator and applying to all the banks therefore gives you the best possible chance of being able to buy the home of your dreams.
Top reasons to use a bond originator
- Using a bond originator gives you more options and the greatest chance of securing a home loan that meets your needs.
- Banks have automatic scoring processes which determine whether or not you are eligible for a home loan. A bond originator will format your application correctly and improve the likelihood of a successful application.
- A bond originator may be able to secure you a better interest rate than the one you would get if you applied directly to the banks.
- The consultant that you work with from a bond originator will have lots of experience in helping people apply for home loans. Their advice may prove invaluable in your journey to becoming a homeowner.
- Buying a home - especially if you're doing it for the first time - can be extremely daunting. Working with a bond originator means having someone experienced helping you through the process.
The CSi Property Group is the ideal partner to help you find the right home in Gauteng, and we work hand in hand with End User Finance to help our clients secure the best possible home loan deals. Contact us today for more information.
Author: CSi Property Group