What qualifies as Income for a Mortgage Bond | South African Real Estate
Description
Not all income is seen the same way by the banks. In this episode we explain how banks view different income sources when calculating affordability.
We cover salaries, wages, overtime, commissions, shift allowances, bonuses, rental income, maintenance, and even investment income. Each bank applies its own rules and percentages, which means not all of your earnings may count in full.
We also highlight what proof you need, why consistency matters, and how a mortgage originator can help match your income to the right bank.
If you are applying for your first bond or growing a property portfolio, this guide will help you understand exactly what counts as income.
In this episode:
00:00 Introduction
00:44 Salaried Income Earner
01:42 Wage Earner
03:13 Overtime
04:20 Commissions
06:44 Shift Allowances
07:18 Investment Income
08:06 Bonuses
09:21 Maintenance (Child Support)
10:53 Rental Income
13:36 Side Hustles
#BondApplication #PropertyInvestingSA #HomeLoanTips #MortgageAdvice #SouthAfricaRealEstate
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