What documents do I need to apply for a home loan in South Africa?
To apply for a home loan in South Africa, you’ll need to provide several key documents. These help the bank or bond originator assess your financial status and ability to repay the loan. Here’s a list of the typical requirements:
Personal Identification Documents
- South African ID document or passport (for non-citizens)
- Proof of residence (e.g., utility bill, not older than 3 months)
Income Verification
- For Salaried Individuals:
- Latest 3 months’ payslips
- Latest 3 months’ bank statements
- Employment confirmation letter (sometimes requested)
For Self-Employed Individuals:
- Latest 6 months’ personal and business bank statements
- Latest 2 years’ financial statements (signed by a registered accountant)
- Letter from your accountant confirming income and business status
- Personal and business tax clearance certificates (sometimes requested)
Expense and Debt Details
- List of monthly expenses and liabilities
- Statements for existing debt (e.g., credit cards, personal loans, store accounts)
Property-Related Documents (if already identified)
- Offer to purchase or sale agreement
- Details of the property (e.g., location, price, agent contact)
Other Documents (if applicable)
- Marriage certificate or divorce decree
- Spouse’s ID and income documents (if applying jointly)
- Proof of deposit (if you’re paying a portion upfront)
