30 Apr, 2022

ABOUT CREDIT SCORES

When the banks assesses your home loan application, they weigh up the risks links to the application before making a decision.

 

 

 

 

 

 

 

 

Your credit score is one of the aspects that the banks take into consideration when making the decision as well as your credit history. Having a good credit score is very important to get a home loan approval and even a good interest rate. Credit scores in South-Africa varies between 500 and 750.

The following table shows the different risk levels depending on the credit score:

 

Credit Score

Risk Category

500-594

Very High Risk

595-610

High Risk

611-628

Average Risk

629-659

Low Risk

660-750

Minimum Risk

 

Need advice regarding your credit score or how to increase your credit score?

Click over to our Contact Us Page and send us your message. We we will call you back.

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