Thinking about buying a home? Get a head start and have all your source documentation ready
Completing an application is just one of the many things you need to do in order to obtain home loan financing.
Whether you've already found a home or are just looking to get pre-approved, you will need to provide a variety of home loan documentation to help your lender.
The information required will vary depending on the lender you choose, your loan option, and your personal financial situation.
The following is a list of documents generally required when applying for a new home loan. For a fast and easy loan process - have these items available when you are ready to complete your application.
All Applications
Companies / Close Corporations
Copy of financial statements You may be required to produce a full set of financials eg. balance sheet, income statements etc, which must be signed by the auditor:
Trusts
FICA Verification of Address documentation
Any FICA document must show your residential address and contain full names and surname or initial and surname, the name on the proof documents must be the same as that appearing on the ID document you use.
Any bank statements, municipal documents (such as rates/water/electric bills), utilities bills (Telkom etc), medical aid must be less than 3 months old.
If you are using the likes of insurance, TV license, retail statements, lease agreements etc normally need to be less than 1 year old.
Once you've begun the application process, your home loan consultant will advise you of all the home loan documentation required for your situation.
But keep in mind - the more information you have ready before you apply, the faster your loan will be approved.