Absa Home Loan Product & Criteria

12 Questions

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Absa Home Loan Product & Criteria


Questions and Answers
  • 1. 
    Select the correct answer. At which target market segment is the Absa Young Professional Home Loan product aimed at?
    • A. 

      First Time Home Buyers

    • B. 

      Investors

    • C. 

      Affordable Market Segment

    • D. 

      None of the above

  • 2. 
    True or False. The maximum loan term for the Absa Young Professional Home Loan is 30 years?
    • A. 

      True

    • B. 

      False

  • 3. 
    Supply the correct answer. What is the maximum LTV % an applicant can qualify for on the Absa Young Professional Home Loan?
  • 4. 
    Select the correct answer. What is the maximum single or joint income to qualify for the Absa My Home Product?
    • A. 

      R 25 000

    • B. 

      R 50 000

    • C. 

      R 25 400

    • D. 

      None of the above

  • 5. 
    True or False. Absa Family Springboard Offering - The helper will put down a cash deposit, to enable the borrower to obtain a 100% loan for the purchase price of the property.
    • A. 

      True

    • B. 

      False

  • 6. 
    Select the correct answer.  The Absa Buy-To-Let Home Loan product will assist the borrower to ...
    • A. 

      Obtain a 104% LTV

    • B. 

      To use future rental income as a solution to proof affordability

    • C. 

      Source a deposit

    • D. 

      None of the above

  • 7. 
    True or False. Absa Flexi Reserve Facility - Minimum withdrawals/transfers of R 1000 is allowed.
    • A. 

      True

    • B. 

      False

  • 8. 
    Collateral Security - Select the types of collateral security that Absa will consider when applying for a home loan?
    • A. 

      Absa Fixed Deposit - (100% value)

    • B. 

      Fixed deposit with another financial institution - value 80%

    • C. 

      Life Assurance Policies with no surrender or cash value

    • D. 

      1st Continuing Covering Mortgage Bond over and existing unbonded residential property (80% of bank valuation)

  • 9. 
    True or False. For purchases of ABSA Distressed properties the client needs to go directly to the Branch directly or apply via the ABSA website.
    • A. 

      True

    • B. 

      False

  • 10. 
    True or False. Absa - Vacant Land. Maximum Loan Term is 10 years.
    • A. 

      True

    • B. 

      False

  • 11. 
    Which one do you like?
    • A. 

      Option 1

    • B. 

      Option 2

    • C. 

      Option 3

    • D. 

      Option 4

  • 12. 
    Which one do you like?
    • A. 

      Option 1

    • B. 

      Option 2

    • C. 

      Option 3

    • D. 

      Option 4

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