WHAT TYPES OF HOUSING TRANSACTIONS WILL GREENSTART  FINANCE?

· Building loan packages for new houses

· Existing houses

· Sectional title units

However consideration can also be given to the following criteria:

· Switching of existing bonds only if combined with capital improvements to the property

· Financing extensions or improvements to un-bonded houses.

 

WHO CAN APPLY FOR A GREENSTART HOME LOAN?

Formally employed South- African citizens or permanent residents, older than 21 years with a valid ID document.

 

WHAT IS GREENSTART’S EMPOYMENT REQUIREMENTS?

Proof of a stable source of income from an accredited employer is required i.e.:

· Permanently employed:

          Government - for minimum of one year.

          Private company- for minimum of one year or two years with last two employers.

· If  self employed:

          Proof of regular historic income over the last twelve months.

          Depending on business type, our sustainability test must be met.

 

HOW MUCH MUST I EARN TO QUALIFY FOR A GREENSTART HOME LOAN?

You must earn a gross salary of not more than R10,000.00 per month.

 

WHAT IS THE MAXIMUM LOAN TERM?

The maximum term is 20 years and the term is determined by the age of the applicant in relation to his/her retirement age.

 

WHAT IF I AM BLACK LISTED?

Greenstart will gladly assist with the assessment of your current credit status and should it fall within our lending policy, the loan will be considered and approved by management.

 

DO YOU FINANCE IN ALL AREAS?

Yes we do. Greenstart does not subscribe to a “Red Line” policy as adopted by some of the financial institutions.

 

DOES GREENSTART REQUIRE A DEPOSIT?

Greenstart requires all prospective home buyers to provide at least a 10% deposit, but as this is not always possible other forms of collateral will be accepted.

 

WHAT FORMS OF COLLATERAL SECURITY WILL GREENSTART ACCEPT?

If a cash deposit is not available, Greenstart will accept the following forms of collateral:

· Paper guarantees provided by Employers or from Pension/Provident Funds in terms of member’s withdrawal benefits.

· Greenstart can also purchase the required 10% collateral from their insurance company.

 

WHERE WILL I OBTAIN CASH TO PAY FOR THE BOND COSTS?

No cash payment will be necessary, as bond costs form part of the loan amount in terms of the lending criteria.

 

DOES GREENSTART CHARGE HIGHER INTEREST RATES?

Not at all. Greenstart provides exclusive housing finance at extremely competitive interest rates.

 

CAN I BUILD MY OWN HOUSE AND STILL OBTAIN FINANCE FROM GREENSTART HOME LOANS?

No. Greenstart Home Loans do not recognize owner builders and require all building constructions to be carried out by accredited developers, registered with the National Home Builders Registration Council (NHBRC). This is to ensure guaranteed quality & client satisfaction.

 

DOES A PROSPECTIVE FIRST TIME HOME OWNER RECEIVE ANY FORM OF GUIDANCE FROM GREENSTART BEFORE MAKING SUCH A BIG DECISION?

A home loan education program forms an integral part of Greenstart’s lending policies, and during these sessions all aspects of home ownership is addressed.

 

AFTER ALL, A NEW HOUSE IS A NEW BEGINNING AND A NEW LIFE!!!

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