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What do you need for a first-time homebuyer loan?

You need a good credit score to qualify for a home loan. This is the most important factor for banks when assessing the financial situation of first-time homebuyers.

A good credit score is anything above 610.

Here’s a more detailed breakdown:

  • 781 to 850. Excellent.
  • 661 to 780. Good.
  • 610 to 660. Fair.
  • 500 to 610. Poor.
  • 300 to 499. Very poor.

You can find out your credit score by getting prequalified with ooba Home Loans. Our prequalification process will help determine how likely you are to qualify for a home loan and what you can afford.

You can get prequalified by contacting an expert at ooba Home Loans or by using our free, online prequalification tool, the Bond Indicator.

Some banks are more likely to grant home loans to lower credit scores. You can improve your chances by applying to multiple banks with ooba Home Loans.

Get a free home loan comparison

Multiple quotes from the big banks to compare.

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Average rating of 4.86 from over 4 550 reviews

Simply The Best

Ooba home loans services are simply the best. My Consultant Bianca Dancer was so hands on and helpful from the get go. She guided me through the entire process and put me at ease being a first time buyer. I highly recommend their services.

Tia J

Excellent Service

Jay Govender and Maleshini Reddy from OOBA provided outstanding assistance and guidance in securing our home loan. Response times were excellent and they were professional and friendly.

Brice G

Bond Application

Estelle Vorster was really helpful in securing the best deal for my home loan, she not only negotiated a lower interest rate she went as far as securing 50% discount on the transfer costs.

Butana M