Joint Homeloans

[TheSlinger]

Hi All,

I was wondering if anyone had any experience in this. I am permanently employed. My wife is currently on a two year contract, which includes a housing subsidy of a few k and a very good chance of permanency after that.

Would it be possible for us to apply for a home-loan together? I know that as an individual you need to either be rolling in $ or be permanently employed. Does the same apply to a joint application?

We would prefer to buy end of this year or early next year, but I guess it's not too bad if we just save like hell these two years and then buy...
Thoughts?

 

[broloks]

My wife and I were in the same position. She was on contract and I was permanently employed. We got a joint homeloan, this was in 2013.
Remember to try SA Homeloans as well.

Good luck

 

[Kosmik]

Yes. Bank prefers joint home loans for married couples especially as they can come after both parties if one defaults. Otherwise with anc, financially only the one may be liable and the other can't be touched in the case of defaults.

 

[TheSlinger]

My wife and I were in the same position. She was on contract and I was permanently employed. We got a joint homeloan, this was in 2013.
Remember to try SA Homeloans as well.

Good luck

Thanks Broloks, we'll give them a shot

 

[envo]

Hi All,

I was wondering if anyone had any experience in this. I am permanently employed. My wife is currently on a two year contract, which includes a housing subsidy of a few k and a very good chance of permanency after that.

Would it be possible for us to apply for a home-loan together? I know that as an individual you need to either be rolling in $ or be permanently employed. Does the same apply to a joint application?

We would prefer to buy end of this year or early next year, but I guess it's not too bad if we just save like hell these two years and then buy...
Thoughts?

Yes. Married people have been doing it since the dawn of time. So I'm unsure why you think it's only on an individual application basis?

The bank takes your salary + her salary and then goes "Oh, you can afford 50 bajillion majillion" and then you buy a house and pay the bond.

 

[TheSlinger]

Yes. Married people have been doing it since the dawn of time. So I'm unsure why you think it's only on an individual application basis?

The bank takes your salary + her salary and then goes "Oh, you can afford 50 bajillion majillion" and then you buy a house and pay the bond.

Thanks envo, I more meant would the contract make the application be chucked out because it wasn't permanent. Iow would they only look at the permanent salary.

 

[LOTR]

Contract employment should not make any difference. Mate of mine and wife are both contractors and have a joint H/L

 

[Napalm2880]

Yes. Married people have been doing it since the dawn of time. So I'm unsure why you think it's only on an individual application basis?

The bank takes your salary + her salary and then goes "Oh, you can afford 50 bajillion majillion" and then you buy a house and pay the bond.

Not only married people. I applied and received a joint home loan with my girlfriend - the process is pretty much the same.