Nedbank Home Loans are a great option for individuals seeking financial assistance to purchase a new house, embark on a home building project, refinance their current home loan, or access additional funding for their existing home loan.”
Nedbank offers a wide variety of home financing products for people who are buying a house for the first time, buying an eco-friendly home or buying an additional home, In this article we are going to give you a clearer knowledge about the eligibility criteria, documents required, the benefits and how to apply for a Nedbank Home Loan.
To qualify for a Nedbank Home Loan you must earn between a minimum of R3501 and R22 000 (if you are a first-time home buyer) but for other buyers, you must earn a minimum of R10 000 per month and if you want to know how much you qualify for with your current salary you can use the Nedbank Affordability Calculator.
Nedbank Home Loans Eligibility Requirements
Please keep in mind the following information: If you are self-employed, employed, or building your house from scratch, please note that if you are married in community of property, your partner should also have the required documents.
The following also includes documents required when applying for the Nedbank Home Loan:
If you are permanently employed you must be:
- South African Identity card, document or passport
- 18 years or older
- Have recent payslip
- Recent 3 months bank statement if not banking with Nedbank
- Statement of expenses, monthly salary, assets, debts you pay, and also your liabilities
- Have a good credit score or history
- Letter from the seller confirming that you are purchasing the house
If self-employed you must be:
- 18 years or older
- Have valid South African Identity Documents or passport
- Recent payslip
- Recent 3 months bank statement if not banking with Nedbank
- Recent 6 months bank statements from your personal and business bank
- Statement of expenses, monthly salary, assets, debts you pay and also your liabilities
- Have a good credit score or history
- and the Letter from the seller confirming that you are purchasing the house
If you are building a home from scratch you must be:
- 18 years or older
- Have Valid South African Identity Documents or Passport
- Recent Payslip
- Recent 3 months bank statement if not banking with Nedbank
- Recent 6 months bank statements from your personal and business bank
- Have a good credit score or history
- Statement of expenses, monthly salary, assets, debts you pay and also your liabilities
- Letter from the seller confirming that you are purchasing the land (if you don’t own the land)
- Valid Plan of the house you are building
- Contract from the contractor for building the house
- Variation of schedules
- Valid National Home Builders Registration Council (NHBRC) certificate
- Certificate of the engineer (if necessary)
- Waiver from the builder
For more detailed information about the eligibility criteria required when applying for a Nedbank Home Loan access this link
Benefits of Nedbank Home Loans
The following documents are mostly for individuals who are Nedbank clients and applying online
- Get 1% from the money you borrowed, up to R20 000 cashback
- Bond registration discounts as much as 50%
- If your income is paid on a Nedbank account you’ll get advantageous Interest Rates
Where to Apply for Nedbank Home Loans
If you meet the requirements and have the documents required you can start applying for the Nedbank Home Loan on the Nedbank website, on the Money App, visit your nearest branch or you can request a callback
Contact Details
- Phone: 0800 555 111
- Email: HLcollections@nedbank.co.za
