How to Qualify for a Home Loan in South Africa: A Guide by Pro Mortgage

Buying a home is a big deal. Whether you’re a first-time buyer or looking for a new place to call home, understanding what it takes to qualify for a home loan can make all the difference. At Pro Mortgage, we’re here to walk you through the process and help you improve your chances of getting that all-important “yes” from the bank.

What Do Banks Look At When You Apply?

1. Your Credit Score

Your credit score tells lenders how well you manage your money. A higher score usually means you’re seen as a lower risk, which can make it easier to qualify and possibly even get a better interest rate. Ideally, you want your score to be above 600 — the closer to 700, the better.

Not sure what your score is? There are free tools online that can give you an estimate. And if your score’s not where you want it to be, don’t worry — we can give you tips on how to improve it.

2. What You Can Afford

Banks will take a close look at your income and expenses to figure out how much you can afford to repay each month. As a general rule, your total debt (including your new bond) shouldn’t be more than 30% of your gross income. It’s all about making sure you don’t take on more than you can handle.

3. Your Deposit

While some lenders do offer 100% bonds, putting down a deposit — even if it’s just 10% of the purchase price — can work in your favour. It shows commitment, lowers your monthly repayments, and might help you secure a better rate.

4. The Paperwork You’ll Need

When you apply, make sure you have the following ready:

• South African ID

• Latest payslips

• Bank statements (usually from the last 3 to 6 months)

• A breakdown of your income and expenses

• The offer to purchase (once you’ve found a property)

If you’re self-employed, you’ll also need things like financial statements or a letter from your accountant confirming your income.

Not Sure Where to Start? Speak to a Pro Mortgage Expert

Let’s be honest — applying for a bond can feel a little overwhelming. But it doesn’t have to be. At Pro Mortgage, we’re here to help you every step of the way. Whether you have questions about your affordability, need help cleaning up your credit, or just want someone to walk you through the process, we’re here for you.

Want to chat to one of our experts? Fill in the form below and we’ll be in touch.

Getting your foot on the property ladder starts with the right advice. With Pro Mortgage by your side, you’ll have the support you need to make smart, confident decisions — and bring your dream home within reach.