Products

Interest Linked Rural Home Loan
A home loan charged at prime plus 1% interest rate across the board.
Benefits of an interest linked to prime lending rate home loan:

  • Use Permission to Occupy (PTO)
  • Personalised application process
  • Interest rate is interest linked to prime lending rate throughout the term of the loan.
  • Flexible term up to 30 years.
  • Switch to Risima Housing Finance and benefit from low interest rate.
  • Access surplus funds on the value of your property through property equity funding.
  • In-house insurance options available through AON Limpopo and New Era.

Terms and conditions apply to all products. The availability of lending products is subject to our credit policy as amended from time to time

Government Employees Housing Scheme (GEHS) Home Finance

Are you a full time employee of the Limpopo Provincial government? Risima have special home finance options for you.

Risima has entered into a partnership with DPSA to provide targeted home finance opportunities to government employees who fall within the GAP market.

This product is offered through Government Employees Housing Scheme (GEHS) for which Risima Housing Finance is the home loan finance partner. To use the GEHS services, government employees must enrol here (GEHS link).

Mortgage loans for GEHS participants
Risima Housing Finance offers targeted home loan package to government employees who  would like to obtain a mortgage loan  – or switch their current bond – on residential properties that have a title deed registered at the Deeds office. For more information please call us on (015) 633 4700 Terms and conditions apply to all products. The availability of lending products is subject to our credit policy as amended from time to time.
A 30 Year Mortgage Bond

This product reduces the customer’s monthly instalments, calculated over a longer term.

Risima’s 30 year home loan; interest rate is linked to prime lending rate which offers greater cash flow flexibility due to a lower instalment.

This increases the chances of affordability for low income earners and is tailor-made for first home buyers.

Here are the benefits of and criteria for our 30 year amortising loan:

  • Low monthly instalments
  • Flexible term i.e 30 years.
  • Interest rate is linked to prime lending rate and the customer always know how much interest they are paying.
  • There are borrower’s age must be 65 years at the end of the term.
  • Although the total cost of a 30 year home loan will be higher than a 20 year bond at the end of the term, the client has options to reduce the term should their financial position improve.
Affordable Housing Loan

Home ownership restores dignity for our people. Owning a home is a dream come true for many families irrespective of the size of the house.

The company also provide affordable housing solutions that are more accessible to households with a combined minimum income from R8 000 per month.

Risima can finance up to 100% for Government, Municipality and State owned entities employees of the total purchase price (cost inclusive) and enables families that do not have a deposit to pay for affordable housing offered by developers, estate agents and other private sellers.

Services offered are:

  • Support and guidance your Risima Housing Finance Home Loan Finance consultant through every step of your application
  • Life and Property cover through New Era and AON Limpopo respectively
100% Home Loans

To fulfil our developmental mandate of promoting home ownership amongst the previously disadvantaged individuals, Risima Housing Finance offers 100% home loans Government, Municipality and State owned entities employees and can require as little as 10% deposit from customers working in the private sector.

It is with the understanding that it is difficult for low income earners to save for a deposit due to limited cash on their disposal.

The 100% home loan allows home buyers to cover the full purchase price (cost inclusive) of the home, to be paid off over the term of the loan (between 5 and 30years).

Mortgage loans for GEHS participants
Additional Home Loans

Risima aims to be a life financial partner to our customers as they aim to improve their lives by providing additional home loan.

It is a top up loan granted to the client in addition to the existing loan, in line with the value of the property and can only be applied for 12 months after of implementation of the first loan.

An additional loan amount should not be more than 80% of the difference between the current market value of the property and the outstanding balance of the loan.

The maximum instalment should not exceed 30% of the basic salary of the applicant.
The maximum term of the loan shall not exceed 30 (thirty) years, subject to pensionable period (65 years).

Risima provide helps thousands of customers live their dreams and property has been used as a means of creating wealth.

GEHS Housing Access Loan
Risima is appointed as an Implementing Agent for the GEHS in Limpopo Province. Government employees, who would like to build or buy a home but cannot register a bond over the property, may qualify for a GEHS Housing Access Loan. The Housing Access Loan offers greater flexibility and a shorter term than a standard mortgage loan.
Here are some of the advantages for 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 calculate if you qualify for GEHS Housing Access Loan, enrol on the GEHS website and select the Housing Access Loan link.

Access Bond
All Risima Housing Finance Corporation clients who have paid their accounts in advance can apply for amount of not less than R12 500.00 and not exceeding 80% of that advance and should be capped at R 50 000.00.

Affordability assessment will be done for any amount above R50 000.00.

The new recalculated instalment after excess bond granted must not exceed the current instalment and the remaining terms should not be amended

Home Loan Equity Finance

Clients who earn less that R15 000 and have been approved for FLISP may qualify for a Home Loan Equity Finance as a form of developmental credit.

Based on the value of the property, a client can be financed to buy a property and consolidate their commitments simultaneously if their first time.

Finance Linked Individual Subsidy Program (FLISP)
Are you earning between (single or jointly) R3500 and R15 000? Are you a first home loan buyer? You haven’t benefited from a government subsidy before? You may qualify for a FLISP subsidy from the Department of Corporative Governance, Human Settlements and Traditional affairs (COGHSTA).

FLISP is aimed at individuals that earn too much to qualify for an RDP house and too little to qualify for a Bond. The FLISP subsidy is used as a deposit to enable clients to qualify for a bond.

Risima has been appointed by COGHSTA to administer FLISP in the province. A client who has been approved by any of the major banks mayor apply for the subsidy portion by contacting Risima on (015) 633 4700.

On registration of the Bond, Risima will pay the FLISP subsidy directly into the client’s home loan account.