South Africa Scenario of Home Loans in 2012, Quick Home Loans in South Africa

Home loans scenario has taken a vast change and as people keep expecting the home rates and home loan rates to lower there seems to be no light of hope in the near future.There is though a rate correction observed in the year 2012 among builders and construction companies.
Visiting many sites where new homes are being constructed in every country, especially the South Africa is showing great progress in offering home loans.A ray of light for budget homes in seen in the South African country and sales are beginning to increase though at a snails pace. In our city Mumbai, Going too far away in the suburbs was one option till last year 2010 which now seems futile. Even if you are willing to sacrifice precious energy and travelling time the homes constructed on the outskirts of the city also fall in the range of 30 to 40 lakh Indian rupees. The same case is happening in other countries. South Africa is emerging as a destination for cheap home purchase and also getting easy home loans.
Discussing with people we understand that Government poilicies regarding home rates and home loans , though revised is of no major consideration while purchaisng a new home. More and more people who really need new home are still unable to take the step of borrowing a home loan,as this is still very unaffordable. There are many housing finance companies in South Africa who are willing to offer loans to NRIs with the required employment proof and salary slips. The workers on contract basis can also get a home loan in South Africa if they have an account in the local South African Bank and the first step in applying for a home loan in South Africa, or in fact any loan is that you will need to open a bank account in any reputed South African Bank. Since all your documents required will need assembling and recording for applying for a home loan in South Africa , the most important being your identity proof, work permit contract documents with all details of your job and tenure of the work contract, salary slips and credit card statements in place you can easily get any loan from a South African loan lending institution.
Tips for getting any loans in South Africa Loans would be to first open an account in a reputed South African Bank, do keep the deposit money at hand first. You will have to enquire in any South African Bank about the amount they need as deposit or beginning amount for opening an bank account. Keep your credit card statements up to date, and remember to have money remaining as balance in your credit card account, you will understand that any lender from South Africa would want to see your bills paid and still your salary remaining  in excess before offering you a home loan. Keep all expenses in check for few months prior to applying for any type of loan in South Africa so that your credit card statement shows more balance money and money saved from your total income.
Always find out about the loan lending company and select a reputed finance company in South Africa for any type of loan as they have a regular format for offering loans and this corms handy when any thing unexpected happens during the loan repayment tenure,as in case of failure to repay the EMI on time, a reputed South African loan lending company would not fall to undue pressures for loan recovery and would offer you help during such situations by either offering more time or skipping EMI for a certain period or also in case of death of a spouse or the borrower, considering all options in your favor, and also as last resort helping in closing of your home loan with minimum hassles.
All the Best from Rizwana!