is within reach
Bring your family home...
Tips when saving for a house
- Create a budget: Figure out how much you need to save for a house, and then build a budget around that. Once you have reduced excessive expenditure, saving towards your deposit will be so much easier.
- Make savings automatic: It’s much easier if your house savings is automatically set aside. Create a dedicated account, so you always have enough put away.
- If you come into more money, save most of it: Maybe you just received a nice bonus at work, or maybe your grandma just gave you an early (cash) birthday present. Don’t splurge. Save it!
- Find other ways to earn more money: If you have a profitable skill or hobby, why not use it to make a little extra money? A part-time job can take the edge off of expenses around the house. If you can fix cars, bake, sew, or create handicrafts, you can easily create a secondary stream of income. You don’t need to work to excess, but an extra few hours here and there can really pay off in the long-run.
- Have enough for the down payment...and mortgage payments: It’s easy to stop saving once you’ve hit your down payment limit. But remember, you’ve got mortgage payments to make now, too. Saving for both is crucial.
- Let’s not forget to save towards closing costs: On top of your down payment, you’re also going to have to pay taxes and other closing costs.
- Have an emergency fund: Having an emergency fund will let you be prepared for any little emergencies that pop up with homeownership (leaks, flooding, damage, etc.). Part of saving for a house is saving for what happens when things go wrong.
- Talk to our experts: We want to help make your dream of homeownership a reality. We are here to listen to your goals and assist you in creating a plan that gets you to that goal. Please speak with us, and let’s explore your options together.
Home is possible
Your new home is possible with JMMB.
- Up to 100% financing or property cost of valuation
- Additional access to financing to assist with valuation fees, mortgage indemnity insurance, legal costs, etc.
- Longer-term: Mortgages can be extended to age 65
- The option to increase your monthly instalments, as your career takes you up the corporate ladder.
Here's what you will need:
- Two forms of Government Issued Identification
- Utility bill in your name
- Job letter and most recent payslip (not older than a month)
- Six months bank statements
- Recent Valuation
- Deed for Property and Sale Agreement
Not quite ready to purchase. Start saving towards Home Ownership