"Good" Home loan interest rate

TsOx

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Anyone know what a "good" interest rate on a home loan would be? Got offered 8.59% (Prime -0.66%) by Nedbank on a 2Mil home loan. Is that any good? Still shopping around though.
 

Purply

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Ye that's good, I got offered 9.5% on a 3Mil loan including 1Mil deposit
 

TsOx

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No deposit. 100% loan. Still waiting for other banks to get back to me.
 

eehellfire

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Anyone know what a "good" interest rate on a home loan would be? Got offered 8.59% (Prime -0.66%) by Nedbank on a 2Mil home loan. Is that any good? Still shopping around though.
It's pretty good. Below prime is usually good.
 

henry1103

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We got prime minus 0.5%, also 100% bond and thought that was good too.
Other banks all required some sort of deposit at prime plus some amount.

I would wait for the other banks to get back to you before deciding (or even taking this offer to other banks to see if they're willing to give an even better one).
 

Icarium

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We got Prime -0.55% on a 1.35m loan with 10% deposit.
Older brother got the same rate on a 3.5m loan with a 5% deposit.

It's pretty decent.
 

TsOx

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Anyone know what a "good" interest rate on a home loan would be? Got offered 8.59% (Prime -0.66%) by Nedbank on a 2Mil home loan. Is that any good? Still shopping around though.
Absa gave me Prime +0.45% and only 90%.
 

xcpointx

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This should be an ongoing thread to be kept alive for public reference! I found the info here and in the other threads really helpful.

I've been offered an official quote with prime -0.3% on a 1mil loan toward a 1.5mil townhouse in Durban from Nedbank.
Standard have so far sent approval for prime -0.75% but no official quote yet.

Hoping I can bump Nedbank down with that.

Also, I have no retail accounts or anything and keep my c/card paid off each month, never gets more than 5k in debit. Would be good to know others credit situation and if it relates to the lending rate.
 
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Dr Who

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2007 - Prime less 1.85% shareblock over 10 years R1mil property ( Not that it has any value today )
2013 - Prime less 1.1% on 1.7mil with 20% deposit or prime less 0.8% on 10% deposit

Hope that helps
 

D4N

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Got offered the following via a bond originator on a million rand property with 10% deposit:

Absa 10.66%
FNB 9.80%
Standard Bank 9.45%

Bit miffed at ABSA's offer since I've been with them my whole life, loyalty eh? Will I be able to get anything lower?
 

SauRoNZA

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Probably best you'll get is to get the others to match the lowest one.

Doubt it would go any lower.
 

saturnz

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guys making lots of money for R3m loans

bond payment around R30 000pm, so you must be making gross around 90k pm
 
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SauRoNZA

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guys making lots of money for R3m loans

bond payment around R30 000pm, so you must be making gross around 90k pm
Or simply dual income households.

Also depends how old you are. If you had a previous property that you sold and made a profit on it...or even without profit your loan wouldn't necessarily be 3million.

I also note the OP stated 2million and nobody said 3million so maybe you misread?


Aren't you the one staying in the magical place in the CBD where you tell everyone else to buy? There is nothing to be had there for less than 1.5million.
 

ToxicBunny

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Or simply dual income households.

Also depends how old you are. If you had a previous property that you sold and made a profit on it...or even without profit your loan wouldn't necessarily be 3million.

I also note the OP stated 2million and nobody said 3million so maybe you misread?


Aren't you the one staying in the magical place in the CBD where you tell everyone else to buy? There is nothing to be had there for less than 1.5million.
R1.5m is a bargain to stay near him... he has the magical COTY don't you remember?
 
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