Financial institutions/banks will view the following as criteria when considering the approval of a loan:

  • The "affordability test" as implemented under the National Credit Act (NCA) as well as
  • 1/3 of your income allocated towards the bond repayment

With My Budget Fitness, professional budget planners and consultants will guide and educate you on a month-to-month basis to reach "affordability" as required under the National Credit Act.

  • How does your current credit rating affect your opportunity to get a home loan?
  • If you have negative aspects on your credit rating, how long before you can qualify for a home loan?

The time needed to obtain a home loan will depend on your credit rating and affordability.

My Budget Fitness can assist you to improve your credit rating.