Owning a home has never been easier or faster. At Absa we can approve your loan in 2 working days and give you a letter of intent. We can help you brick-by-brick, whether you want to build a house,
buy a house or extend your home.
What you can expect
- We will approve your loan in 2 working days and give you a letter of intent.
- We offer up to 100% finance for purchase and building loans and up to 85% for equity and refinance loans.
- You can combine your and your spouse’s income to qualify for a higher amount.
- Depending on your income and the value of the house you are buying, we can lend you up to P10,000,000.
- Convert some of the value of your property to cash.
- Use your house as security and raise capital for other projects.
- Your property is the security for the loan.
- You don’t have to bank with Absa to qualify for a home loan (after approval you’ll have to move your income to Absa if you’re not a customer yet).
- Scheme customers can qualify for a home loan without opening an account with us.
- The maximum repayment period is 25 years or up to the age of 65, whichever is shorter (dependent on retirement age required by your employer).
When applying for a mortgage:
- An arrangement fee of the loan amount and VAT.
- The following documents:
- A letter from your employer confirming your employment and income
- A copy of the title deed for the property
- A sale agreement letter
- A valuation report
If you’re building a house we’ll also need to see:
- Approved council plans
- Valuation report of plans
- Title deed
- Bill of quantities
- Quotations from three contractors
If you are re-mortgaging we need to have:
- Settlement letters of all facilities that you’ll be clearing
- Title deed
- Valuation of the house (we recommend using a valuer from our panel)