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How to get a 30-year home loan through ooba

A 30-year-home-loan allows for lower monthly repayments, making it an especially appealing option for first-time buyers on a tight budget.

30 Year Home Loans

Article summary

  • A 30-year-home-loan allows for lower monthly repayments, giving you some breathing room.
  • You can apply for a bond with ooba Home Loans. We submit your application to multiple banks, thereby casting a wider net.
  • Although interest rates are higher on a 30-year-bond, we can help you secure lower interest rates.

The home loan term is an important factor; determining what you will pay in monthly installments and interest rates.

The default home loan term is 20 years, but it is possible to secure a 30-year-home-loan. This is an especially appealing option for first-time buyers, as it allows for lower monthly installments.

The implications of a 30-year-home-loan

Of course, you’ll pay more in the long-term, but being able to pay less in the short-term gives you time to consolidate your home purchase.

Use our Bond Repayment Calculator to determine how much you’ll pay on a 30-year-term versus a 20-year-term.

For example, according to our Bond Repayment Calculator, on a home loan of R1 000 000 with a 10% deposit, you’ll pay:

  • R9 753 per month on a 20-year-term
  • R9 085 per month on a 30-year-term

That’s a saving of around R700 per month, which means over the course of the year you’ll save
R8 400

The question of Interest rates

You pay higher interest rates on a 30-year bond.

However, with variable interest rates (as opposed to fixed interest rates), the rates can rise or fall over time. If they fall, you’re actually saving money on your home loan, and 30 years provides more time for interest rates to fluctuate.

How to get  30-year-home-loan

With ooba Home Loans, your chances of getting a 30-year bond are much higher than if you applied without our assistance.

The reason for this is that we submit your application to multiple banks. Banks have different lending criteria, and some may be more willing to approve a 30-year-bond than others.

Despite the economic difficulties brought about by the lockdowns, competition between banks is still strong. So banks are more willing to accommodate the needs of first-time homebuyers.

So if you’re a first-time homebuyer on a tight budget, consider a 30-year-home-loan as a way to free up funds that can be used for additional expenses such as maintenance and utility rates.

Get the best deal on your home loan

Applying with ooba Home Loans also improves your chances of securing low interest rates, as you can compare the deals offered by the various banks.

We also offer a range of tools that can make the homebuying process easier.  Start with our Bond Calculator, then use our Bond Indicator to determine what you can afford. Finally, when you’re ready, you can apply for a home loan.

Get a free home loan comparison.

Multiple quotes from the big banks to compare.


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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