2022 has brought with it many challenges, many of which are financial. With interest rates increasing we’re paying more for essentials than ever. If you previously considered buying a home, you might be thinking that you’ll have to give up on your future because you can’t afford it. We’re here to tell you that it’s still possible. If you’re a government employee, you could qualify for a Government Employees Housing Scheme (GEHS) Housing Access Loan. As a recognised lender with the GEHS, SA Home Loans is happy to talk you through the process. Here’s what you need to know.
Property has long been an asset that can improve your wealth thanks to its potential to increase in value. It’s one of the most common ways families pass down wealth across generations and can make a huge difference for a family’s descendants for decades to come. Many South Africans don’t own their own homes, preventing them from creating wealth through property. It’s also common to find out that while you earn too much to qualify for a government housing subsidy, you don’t earn enough to qualify for a conventional home loan. Whether you fall into this category, already have a home you’re paying off (or have paid off) or are comfortable renting for the time being, the GEHS Housing Access Loan can still benefit you.
If you’re employed in the public service in a national or provincial department you can apply for this loan. You can apply for this loan whether you want to purchase rural land, buy communal land, purchase a new home or purchase a stand on which to build a home. You can even apply for it if you’re currently a homeowner paying a bond off or own your own home in full. To access any benefits of the Government Employees Housing Scheme you must first enrol for GEHS.
If you want to buy a home you can apply for one of two home loan offerings:
To get an accurate estimation of what you could qualify for, it’s best to speak to SA Home Loans directly. Depending on your individual application you’ll be asked to submit a range of different documents to process your application. The Housing Access Loan team at SA Home Loans are ready and waiting to take your call and help you get started with the process of securing a home. You can contact us by calling us on 0860 4444 17 or emailing [email protected].