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33 Bree Street Cape Town 8001 Postal Address: P O Box 1535 8000 Tel: (+27 21) 481-7300 Fax: (+27 21) 481-7387 Copy Changes (A.K 01/08/2006) Saul Geffen Managing Director Fax: (+27 21) 421-3645 Graham Paterson Business Intelligence Director Fax: (+27 21) 481-7386 Cell: (083) 457-9400 Herman Stals Financial Director Cell: (082) 335-4880 Gavin Southwell National Sales Director Rhys Dyer Insurance Director> check credit rating

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Glossary A B C D E F G H I J K L M N O P Q R S T U V W X Y Z credit online rating report

Access Bond This facility allows you to draw funds up to a predetermined loan amount. Accrued Interest Interest earned but not yet paid. Administration Fee Fee charged by a lender to cover the initial costs of processing a loan application. The fee may include the cost of obtaining a property appraisal, a credit report, or other closing costs incurred during the process or the fee may be in addition to these charges.

Building Contract A Contract between the land buyer and the builder, outlining the specifications of the building. Building Loan A Loan granted to a buyer who buys a vacant plot of land on which he intends to build Buyer s Market Market conditions that favour buyers. With more sellers than buyers in the market, sellers may be forced to make substantial price concessions. Capped Rate Consumer safeguards which limit the amount the interest rate on an adjustable rate mortgage can change in an adjustment interval and/or over the life of the loan. credit score rating scale

Ceiling The maximum allowable interest rate of a variable rate mortgage Collateral Assets (such as your home) pledged as security for a home loan Commission Money paid to a real estate agent or broker for negotiating a real estate or loan transaction. Contract of Sale The agreement between the buyer and seller on the purchase price, terms, and conditions of a sale. Conveyance The document used to effect a transfer, such as a deed, or mortgage. bad card credit credit people

Cooling off period This clause is included in an offer to purchase a property under R250 000. It is based on a new law allowing first time home buyers the opportunity to change their minds within five days of signing the offer. Credit Bureau A credit bureau is a clearinghouse for credit history information. Credit Report / profile A report detailing the credit history of a prospective borrower that s used to help determine borrower creditworthiness. There are 2 main Credit companies used by lenders in South Africa, namely ITC and Experian. These companies collate credit history on individuals and companies, which they obtain from various sources in the retail market place and legal system. Your bank account history is another important source of credit information used by lenders in assessing your credit profile. free credit rating report

Term The period of time between the beginning loan date on the legal documents and the date the entire balance of the loan is due. Title Deed Document which gives evidence of ownership of a property. Also indicates the rights of ownership and possession of the property Transfer fee Fee paid to transfer the property from the seller into the name of the buyer

Underwriting In mortgage lending, the process of determining the risks involved in a particular loan and establishing suitable terms and conditions for the loan. credit rating scale

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News centre Featured Articles 3 Little steps to financial peace of mind bad credit rating

Homebuying blindspot costing South Africans Millions Save, don t spend is expected message for Budget 07 Top tips for buyers - Taking the guesswork out of buying your home

To search the MortgageSA news article archive simply enter a keyword in the box below, select a category and date range and hit the Search button. Results of the search will be displayed below. credit rating agency

Enter keywords to search for * * Help Category - Select one - Industry news Mortgage SA * All Mortgage SA Industry news Date All Last month Last 3 months Last 6 months Last 12 months * credit rating canada

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Need prequalified finance, a new loan or further loan Click the button below to submit your details and have one of our consultants call you back. bad credit mortgage rating

Introduction Affordability calculator Bond registration and transfer costs calculator Amortization calculator Home loan options Interest rate calculator Interest rate concession Call me Need a home loan in a hurry Credit Ratings Credit Scores

Call me Please complete and submit this short form to have an experienced MortgageSA property finance consultant contact you at a convenient time to discuss your property finance requirements. good credit rating

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benefits of prequalification here First name * * Surname * * Email * * Home phone * * Work phone * * Cellphone * *(please supply at least one valid telephone number) * Bug 8541 (General) In order for MortgageSA to issue you with a pre-qualification certificate, we need to conduct a credit check. All your information will be treated as strictly confidential. credit score rating chart

Do you agree to MortgageSA conducting a credit check * not selected No Yes * Loan type - Select one - Further Loan New loan Other Prequalification * If other, specify * Reason for loan * - Select one - Build a new home Buy an existing home Buy vacant land Home improvements Other (Specify) Preapproval * credit mortgage rating poor

Where did you find / hear about www.mortgagesa.com * - Select one - Radio ad Newspaper property ad Referral Search engine Showhouse brochure Agreement of Sale Magazine ad Other websites Property websites * Are you actively lookingor a property to purchase * good credit rating score

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* Have you already signed an offer to purchase * - Select one - No Yes * End of General Additional Requirements * Fields marked with an asterisk (*) are compulsory tips table What can I expect after submitting the Call Me form Glossary Frequently asked questions end tips table poor credit rating loan

My Folder Login Apply Online Introduction Affordability calculator Bond registration and transfer costs calculator Amortization calculator Home loan options Interest rate calculator Interest rate concession Call me

Affordability Calculator Before looking for your home, it benefits you to know what you can afford, and how much a property will cost you in terms of bond repayments and the total cost of the loan. We have two affordability calculators available, which will assist you in determining these costs. bank credit rating

The advanced, interactive, what if home loan calculator, is more suitable for those familiar with the complexities of the home loan process. To launch this calculator, please click on the button below. It will take a couple of seconds to open, so please be patient. credit card for poor credit

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Our second affordability calculator, is designed to answer the three most important questions when considering your affordability. Detailed instructions on how to use this calculator, can be found in the Quick Help Section. How to use this affordability calculator. What are the monthly instalments What should be included in my gross monthly income What is meant by Instalment to Income What is the Loan to Value (LTV) % What is the Additional Monthly amount What is the desired interest rate What is the repayment term business credit rating

Introduction Affordability calculator Bond registration and transfer costs calculator Amortization calculator Home loan options Interest rate calculator Interest rate concession Call me Need a home loan in a hurry Credit Ratings Credit Scores

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Variable Rate Fixed Rate Step-down / Reducing rate BA Linked Rate 1st time Homeowner Description If interest rates rise or drop, the borrowers home loan rate will rise of fall accordingly. This facility is taken up when the borrower believes interest rates are falling and is not too concerned about rising interest rates Regardless of whether variable rate home loan rates rise of fall, the fixed interest rate for the agreed period will continue to apply. This facility is taken up if the borrower is of the view that interest rates are rising and may do so during the contracted period credit card with bad credit

Regardless of whether the home loan interest rate rises or falls, the reducing rate option will apply for the agreed period (usually less than 5 years). This facility agrees that your interest rate will decrease by a set percentage every three to six months for the agreed period personal credit rating

This option guarantees a fixed rate for 3 months. The rate will change every three months in line with the cost of short term funding rates. This type of product normally has a minimum loan size and a maximum loan to value qualification criteria unsecured loan for bad credit

This product allows the borrower to lend more than 100% of the property value. It is geared for the first time homeowner and allows the borrower to include registration and transfer costs within the purchase price of the home credit rating company

Advantages

A lower initial interest rate as the risk to the lender is less You can borrow more There is no risk that your payments will go up during the chosen period It is easier to budget Peace of mind The advantages and disadvantages are similar to those of the fixed rate option. It is a hybrid of the fixed rate option The interest rate will normally be lower than the variable interest rate available canadian credit rating

Fixed for three months therefore easier to budget No deposit is required Borrower need not have cash to pay for the associated costs incurred in purchasing the property Disadvantages The interest rate might go up Higher initial interest rate due to greater risk borne by the lender Harder to qualify for, as initial instalments are higher Should this option be terminated before the expiry date, an additional finance charge will be levied by the lender credit union rating

Harder to qualify for as the borrower needs to have substantial deposit available Can only fix the rate for a short period Targeted at a specific market segment, i.e the first time homeowner corporate credit rating

Introduction Affordability calculator Bond registration and transfer costs calculator Amortization calculator Home loan options Interest rate calculator Interest rate concession Call me

Introduction Need some help Click on Call me to have an experienced MortgageSA property finance consultant contact you, to give you advice and assist you throughout the entire home financing process. credit rating fix

There are many financial decisions involved in purchasing and financing a home. Our interactive calculators will help you make the best decision. Our Affordability calculator will help you assess how much you can afford and what your monthly installments will be. Our Bond registration and transfer cost calculator allows you to calculate the hidden costs associated with home financing and their impact on the final loan amount you require. bad credit loan personal

The Amortization schedule enables you to view the month by month breakdown in terms of interest and capital reduction payments, over the life of a bond. When it comes to home financing, there are a variety of Home loan options and Interest rate options to choose from. How do you find the loan that s best for you Browse through these options online, or complete our Call me to have an experienced MortgageSA consultant contact you. credit how improve quickly

Comparitive interest rate tables The rates quoted below are the base rates per category, and may attract concessions depending on factors such as loan to value, size of the loan and affordability. Interest rate options - Select one - Fixed Variable rate * Purchase price * Bond amount * Loan to Value (LTV) * Search fico credit rating

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Detailed interest rate tables Interest rate options Show table tips table Explain interest rates to me What is a fixed interest rate loan What is a BA linked rate loan Read our interest rates disclaimer What is a variable interest rate loan Glossary Frequently asked questions end tips table improving credit rating