THERE IS ALWAYS ROOM FOR IMPROVEMENT WITH RISIMA HOUSING FINANACE CORPORATION
INCREMENTAL HOUSING LOAN
OUR PRODUCTS
RURAL HOUSING LOAN
THERE IS ALWAYS ROOM FOR IMPROVEMENT WITH RISIMA HOUSING FINANACE CORPORATION
- This loan is offered at the prime rate plus 1% interest.
- Benefits of a Prime Rate Linked Home Loan:
- Allows the use of Permission to Occupy (PTO).
- Tailored and personalized application process.
- Interest remains linked to the prime lending rate for the entire loan term.
- Flexible repayment period of up to 30 years.
- Option to switch your bond to Risima Housing Finance for lower interest benefits.
- Access extra funds using the value of your property through equity financing.
- In-house short-term insurance option available via AON Limpopo.
Note: All loans are subject to terms and conditions. Product availability depends on our credit policy, which may change from time to time.
Are you a full-time employee of the Limpopo Provincial Government? Risima offers special home finance options designed just for you.
Through a partnership with DPSA, Risima provides targeted home loan opportunities for government employees who fall within the GAP market.
This product is available through the Government Employees Housing Scheme (GEHS), with Risima as the appointed home loan finance partner.
To access GEHS services, government employees must enrol on the GEHS platform.
Additional Home Loans
Risima is committed to being a long-term financial partner to its clients by offering additional home loan options that help improve their quality of life.
- This is a top-up loan added to the existing home loan, based on the property’s value. It can only be applied for 12 months after the first loan has been implemented.
- The additional loan amount may not exceed 80% of the difference between the property’s current market value and the outstanding balance of the existing loan.
- The monthly repayment should not be more than 30% of the applicant’s basic salary.
- The loan term can be up to 30 years, but not beyond the applicant’s pensionable age of 65 years.
Risima continues to help clients achieve their dreams, with property serving as a valuable way of building wealth.
Risima has been appointed as the Implementing Agent for the GEHS in Limpopo Province. This facility is designed for government employees who want to build or buy a home but are unable to register a bond over the property.
The GEHS Housing Access Loan provides more flexibility and a shorter repayment term compared to a traditional mortgage.
Key Benefits of the GEHS Housing Access Loan:
- A flexible loan term to suit your needs.
- Finance for the purchase of land with no title deeds using Permission to Occupy (PTO).
- Finance for renovations or extensions to property on PTO land.
- Finance for buying properties where a mortgage loan be registered.
To check if you qualify, simply enrol on the GEHS website and select the Housing Access Loan link
.
All Risima Housing Finance Corporation clients who have paid their accounts in advance may apply for an access bond.
- The loan amount must be at least R12,500 and may not exceed 80% of the prepaid balance.
- The maximum amount that can be advanced is R50,000.
- An affordability assessment will be carried out for any loan request above R50,000.
- The recalculated instalment, after the additional bond is granted, must not be higher than the current instalment.
- The remaining loan term will not be extended.
If you earn between R3,500 and R15,000 (single or combined income), are a first-time homebuyer, and have never received a government housing subsidy before, you may qualify for a First Home Finance subsidy from the Department of Cooperative Governance, Human Settlements and Traditional Affairs (COGHSTA).
First Home Finance is intended for individuals who earn too much to qualify for an RDP house, but not enough to secure a bond on their own. The subsidy is provided as a deposit to help clients access a home loan.
Risima has been appointed by COGHSTA to manage First Home Finance in Limpopo Province. If your home loan has already been approved by a major bank, you can apply for the subsidy portion through Risima by calling
(015) 493 1979.
Once your bond is registered, Risima will transfer the First Home Finance subsidy directly into your home loan account.