Buying a home is exciting! To make the best decisions, it’s important to understand the process and what to expect. These are the steps that you will follow to apply for a Capitec home loan.
Required Documents
Employed:
Email these documents (for both applicants if applicable) to Info@capitechomeloans.co.za after submitting your application.
Latest 3 months’ salary slips
Latest stamped 3 months’ personal bank statements
Copy of your ID document
Copy of marriage certificate or antenuptial contract (ANC)
Copy of the offer to purchase
Personal assets & liabilities statement for loan amounts over R2 500 000
Insurance by SA Home Loans
Bond Protection
Bond protection cover will provide peace of mind that you won’t lose your home if you can’t pay off your home loan due to death, disability or retrenchment.
Home Owner’s Cover
Home owner’s cover will provide comprehensive cover should an unforeseen event cause loss or damage to your property.
1. Calculate
Use our Affordability Calculator to get a detailed breakdown of what we may be able to offer you.
2. Choose an application option
Apply online and we will contact you once we get started with your application. Alternatively, call our Sales Contact Centre on 0861 200 300 to discuss your home loan solution needs.
3. Send us your documentation
Send us the required documentation. This is important as we must have all your up-to-date information in order to process your application.
4. Credit approval
Our credit team will now use the supplied documentation, as well as information obtained from a credit bureau regarding your current credit status, to complete the credit assessment. If this is all in order, you will receive notification of approval of your bond application. This approval is subject to the completion of the valuation. If there is a problem, you will be contacted by a consultant to discuss a possible solution.
5. Property valuation
An expert appraiser will arrange an appointment to value the property.
6. Evaluate & sign a Letter Of Acceptance (LOA)
Once the valuation has been completed and all is in order, your application will be approved. A Letter of Acceptance is sent to you, which details the costs, annual interest rate, indicative instalment and other important information for you to evaluate. Your acceptance of this offer is done by you signing and returning the letter to your consultant.
7. Conveyancing
Upon receipt of the LOA, an attorney from our panel is selected to attend to the registration of the bond. They will draft the bond registration documents and will make an appointment for you to sign. Bear in mind that the attorney attending to the transfer of ownership may be different to the bond registration attorneys as the seller has the right to appoint the transfer attorneys. The two firms of attorneys will however liaise so that the transfer of ownership and bond registration occurs simultaneously.
8. Lodgement
Lodging your bond registration is the next step. The attorney will do this and it happens immediately after you sign your documentation at the attorney.
9. Await registration
Registration of your bond at the Deeds Office will take approximately 12 weeks.
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