3 essential Tips to Get Loans at ooba | Comparing Options
Ooba is a company working here in South Africa to assist home buyers when trying to get financial support. If you are reading this, I’m sure you want to know about ooba’s home loans and that’s what you’ll read about. I will give you precise information about these loans to make you understand how they work.
What can I get from ooba home loan originator?
When a South African applies for a home loan, he or she finds a lot of paperwork and time spending on errands. If you choose to work with an obba home loan originator, you will get things simplified for you. Supposing you satisfy obba requirements and your affordability assessments has a positive result, you will get a certification stating you are pre-qualified to get your bond. That certification works on your favor as banks will have a positive view about you as their loan applicant from the start. Thanks to that, your home loan request will have better chances of being approved. The best part of this is that you will only complete obba home loan application form instead of having to go over several bank’s home loan applications.
What home loan calculator is better to know about my possible ooba home loan repayment?
Having an estimated repayment cost for a loan is useful to know how that loan will affect your finances. When referring to home loans, loan simulators pose a special benefit as these credits are granted for high sums of money. Because of this, there are a few types of home loan calculators you can use before applying at ooba. If you already know how much money you can ask ooba for, you can start figuring out your monthly installments. For instance, if you know the house you want is worth R500.000 and, you want to cancel your home loan in 20 years putting down a R15000 deposit, you might have an approximate payment by indicating a possible interest rate. Just to show you an example, let’s imagine you’ll get 10% interest rate. You might get monthly payments of around R4600 and, consequently, by the end of the home loan term, you will have paid R1.123.285.
As official payments depend on your credit check, it’s important you know a loan calculator will only show you an estimated cost.
Should I care about specific ooba home loan requirements?
As ooba has to pre-approve their home loan applicants, they will check the client can afford to take a home loan. Before you think of trying to get a home loan, you need to be sure about these 3 tips:
Have your ID to prove your age, identity and nationality. (You must be a South African older than 18 years old).
Have a steady source of income to make monthly payments for over the term of your home loan. Of course, ooba will pay attention to how high your wage is to state your affordability.
Have valid documents to certify this information.
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Then, the rest will depend on your specific case. For instance, you need to be clear of debt and you need to have a good credit score. Remember, ooba is just the starting point of getting money borrowed for your house. This means that banks might have their own requirements.
Can ooba take care of my home loan approval?
Ooba will take care of your home loan pre-approval but, as I told you, you must submit that certificate to the credit provider you want to apply to, and they will decide if they approve your home loan or not. Of course, they will ask you to comply with other requirements before granting you the home loan approval. All the same, they will take care of processing your home loan request with many South African banks to ease your way through it.
Do applicants prefer applying for a home loan with ooba or banks?
You will find there are many alternatives to get financial support to make a house purchase. One of the more popular alternatives is to apply with a bank. If you go with this option, you can start applying for a bond with your bank. You surely know that as you are already their client, you will have a faster process and you might even get competitive rates. However, you will only get one home loan offer. If you decide to get your home loan through ooba, you can compare and choose among many home loan offers. This is the main difference between an ooba home loan and getting it directly from a bank. If you want to have many options, you may try ooba home loan.
What are some of the best ooba home loan reviews?
Having some comments from ooba past or existing clients will help you make up your mind as regards this company.
I found a comment, for instance, thanking ooba for their outstanding work helping them make the dream home come true. Specially because they led the process without hassle and stress. Another comment points out obba capacity to explain every detail and elicit their doubts patiently.
Can you give me ooba home loan contact details?
Now, if you need to get in contact with ooba for your home loan, I’ll mention some of their contact information to help you even more.
Let’s begin with ooba home loan contact number. You must dial the number 0860 – 006 – 622.
I want to follow with their ooba head office, which can be found in Cape Town. The address is 33 Bree Street. There, you’ll find ooba house if you go to the 8th floor.
There’s another ooba home loan branch in Prot Elizabeth. The address for this office is 200 Cape Road in Mili Park.
Now you have ended up reading about ooba home loans, you have to process this information carefully to decide on your home loan. If you meet the requirements needed, you will see it’s simpler than you think. So, be sure to take enough time to decide and go for your new house.
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Questions and answers
I want to apply soon but I don’t have savings to make a home loan deposit, can I be approved?
Yes! As ooba works with many lenders, many of them grants 100% home loans. So, you might be approved by some of them.
What if I accept one of ooba home loan offer and then I change my mind?
Once you sign the home loan contract, you take the compromise of complying with terms and payments. So, before finishing the application process, be absolutely sure you want to take it
Will obba do a credit check after presenting my home loan application?
No, your credit check is what ooba uses to know your home loan budget and so it’s important to do it at the beginning. After that, it’ll be easier for you to focus on your house search.