If you earn a basic salary plus commission, overtime, or bonuses, you’re not alone. In South Africa, many professionals — from salespeople to nurses to freelancers — have variable income structures.

But when it comes to applying for a home loan, it’s important to understand how banks view this kind of income. Spoiler alert: it’s not treated the same as a guaranteed salary.

Here’s what you need to know.

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In South Africa, owning a home is a major milestone — and for many, that journey begins with qualifying for a home loan. While income, credit score, and expenses are the main ingredients banks assess, there’s another factor that plays a bigger role than most people realise: your level of education.

Here’s why having a diploma, degree, or other post-matric qualification can significantly increase your chances of getting that all-important home loan approval.

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Most people think that once they’ve submitted their home loan application, it heads straight to a credit analyst who decides whether it’s approved or declined. In reality, there’s a lot that happens before it even reaches a credit analyst’s desk — and if you’re not prepared, your application might not even make it that far.

Here’s a behind-the-scenes look at the early part of the bond journey — and why preparation is everything.

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