How to prepare yourself for the biggest investment Owning a Property & get 1 cashback as a Reward/bonus - My Bond ...
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
How to prepare
yourself for the
biggest investment
–
Owning a Property
&
get 1 cashback as a
Reward/bonus
consumerhousingeducation.co.za 1
Index & “House rules”
• PSE MUTE YOUR MIKE
• Step 1 – Step4
• Module 1 - 4
• Introduction of the hosts
today
• HIP Home Loans
• How to get back up to 1 %
• Is there still a demand to own
cash back on your property
your own home?
deal – Property Toolbox
• FAQ
Survey – Financial Dreams
• Useful Websites
• Questions
How do you convince a bank to
• Contact details
lend you money?
consumerhousingeducation.co.za 2
Introduction of your
Hosts Today
consumerhousingeducation.co.za 3
Buying a house is most likely the biggest
investment you will ever make
consumerhousingeducation.co.za 4
Survey
Outcome : Recent survey by Old Mutual Rewards:
61 %
Aspire to buy a
house
consumerhousingeducation.co.za 5
ABSA Feedback
consumerhousingeducation.co.za 6
Investing
consumerhousingeducation.co.za 7
Rent vs Buy
consumerhousingeducation.co.za 8
Buy with your Heart or Calculator?
consumerhousingeducation.co.za 9
Old Mutual Survey
The 2nd biggest financial dream is to own a car
Will you buy a car without
A Warrantee?
A Road worthy certificate?
consumerhousingeducation.co.za 10How do you convince a bank to give you a home
loan?
Answer
=
Think like a Bank
consumerhousingeducation.co.za 11STEP 1
Empower yourself
Become an
Educated Home Buyer
consumerhousingeducation.co.za 12Become an Expert
consumerhousingeducation.co.za 13STEP 2
Empower Yourself
Be up to date with
all the
Property Finance Solutions
consumerhousingeducation.co.za 14More than one Finance Option
consumerhousingeducation.co.za 15More than one Finance Option
Home Loan
FLISP & Home Loan
Income R3 501 – R22 000
Rent2buy Finance
R400 000 – R1,8 mil
HiP Home Loans – R950 000
Pension Backed Loans
consumerhousingeducation.co.za 16STEP 3
Outsmart the Bank
Think like a Bank
consumerhousingeducation.co.za 17What will a Bank look at for a
Home Loan Application?
Credit Profile
Affordability
Loan to Value
Deposit & Valuation
consumerhousingeducation.co.za 18Credit Score
consumerhousingeducation.co.za 19FACT :
50 % OF HOME LOANS ARE DECLINED
DO NOT
LET A FLAT TYRE STOP YOUR HOME
OWNERSHIP JOURNEY
consumerhousingeducation.co.za 20Put yourself in quarantine
What – NOT AGAIN!!
Think of the benefits
What are the benefits?
consumerhousingeducation.co.za 21Get your Credit Score Healthy &
Budget Fit
Bad – Low Good
Good
Get yourself
Proceed to
Budget Fit Home ownership
consumerhousingeducation.co.za 22Why all the “pain” and “effort’?
Negotiate a better interest rate
Paying off 2 % interest over
20 years
You will throw away
a lot of good money consumerhousingeducation.co.za 23Let us Compare
Home Loan = R800 000
7.75 % vs 9.75 %
R800 000 home loan R800 000 home loan
7.75 % x 20 years 9.75 % x 20 years
Pay-off time 20 years Pay-off time 20 years
Monthly payment 6,567.59 Monthly payment 7,588.13
Total capital paid 800,000.00 Total capital paid 800,000.00
Total interest paid 776,221.24 Total interest paid 1,021,152.35
Total amount paid R1,576,221.24 Total amount paid R1,821,152.35
R1 576 221 R1 821 152
R244 931
More on R800 000 consumerhousingeducation.co.za 24Affordability
consumerhousingeducation.co.za 25Questions from a Bank
Are you employed
Where does the money come from?
• Fixed Salary? • Self Employed?
• Buying in your own
name?
• Buying in a Trust or
• Buying with a Company?
partner/spouse?
• How much debt do you
• How much left of your
need to pay each
income?
month? consumerhousingeducation.co.za 26The Value
LTV
Loan to Value
consumerhousingeducation.co.za 27Questions from a Bank
What is the value of the Property?
Do you have a deposit?
• Few banks extend a loan • Deposit
more than the purchase • Can you save to cover
price the shortfall between
• Some will include costs the home loan & bond
granted?
• TIP – look out for the
“hidden costs” • Transfer and Bond
Registration costs?
• Hidden costs = extra
interest rate • Do you qualify for a FLISP
Subsidy?
consumerhousingeducation.co.za 28How do I start?
Where do I start?
consumerhousingeducation.co.za 29Locate your position
Where am I?
consumerhousingeducation.co.za 30Start with
Check your credit score
consumerhousingeducation.co.za 31Educate Yourself
consumerhousingeducation.co.za 32Module 1
Introduction
Buying Your Own Home
consumerhousingeducation.co.za 33consumerhousingeducation.co.za 34
Owning vs Renting
consumerhousingeducation.co.za 35Equity - Explained
consumerhousingeducation.co.za 36Module 2
The three foundations
For your Property Journey
consumerhousingeducation.co.za 37consumerhousingeducation.co.za 38
Module 3
Improving Your Budget
consumerhousingeducation.co.za 39Practical Tips
consumerhousingeducation.co.za 40Managing Debt
consumerhousingeducation.co.za 41Understand the Flisp Value Add
INCOME
OLD NEW
R10 000 R49 400 R88 323
R20 000 R62 340
R15 000
R22 000 N/A R27 960
consumerhousingeducation.co.za 42consumerhousingeducation.co.za 43
Now
R950 000
Up from
R650 000
consumerhousingeducation.co.za 44Module 4
Finding Your Home
consumerhousingeducation.co.za 45Practical TIPS
consumerhousingeducation.co.za 46Property
Toolbox
All Your Property Tools
In one Box
consumerhousingeducation.co.za 47https://www.propertytoolbox.co.za/
consumerhousingeducation.co.za 48The Property Toolbox
Educators
consumerhousingeducation.co.za 49The Property Toolbox
consumerhousingeducation.co.za 50Cash Back
• Get up to 1 % cash back on your property
purchase transaction
• Terms and conditions apply
consumerhousingeducation.co.za 51How – Prequalify yourself
Online and Free
Home Loan https://mybondfitness.co.za
FLISP https://flisp.mybondfitness.co.za
Rent2buy Finance
Https://r2b.mybondfitness.co.za
consumerhousingeducation.co.za 52Get Your Certificate
consumerhousingeducation.co.za 53Online Process Developed
Branded
welcome DEBT
letter Repair
1. Branded URL 2. Quick ID Verification 3. Credit Report
FICA
upload
R ……
Property Bond
Indicator
type
6. Loan Processing, FICA 4. Link-Up With Your
& Identify Property 5. Loan Assessment
Bank Accounts
consumerhousingeducation.co.za 54USEFUL WEBSITES
• RENT2BUY
– https://www.irent2buy.co.za/
• FLISP
– https://www.flisp.co.za/
• BOND INDICATOR
– https://www.mybondfitness.co.za/
• LEGAL
– https://mdwinc.co.za/
• PROPERTY TOOLBOX
– https://www.propertytoolbox.co.za
• HIP
– https://hiphousing.co.za/
• consumerhousingeducation.co.za 55Our next event
consumerhousingeducation.co.za 56Contact Details
Meyer de Waal Madeleine Groenewald
E:
M: 083 653 6975 mailto:Madeleine@hiphousing.co.za
T: 021 461 0065
E: meyer@mdwinc.co.za
Anele Matakane Juanita van Vuuren
M: 079224 4090 M: 060 770 6105
T: 021 461 0065 T: 021 461 0065
E: anele@mybondfitness.co.za E: Juanita@mybondfitness.co.za
consumerhousingeducation.co.za 57You can also read
