Don& #39;t take a personal loan to finance building your house.

There is a loan for that which will be workable for long term payment.

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You can apply for a building loan which will take you long to finish paying off but it is workable and unlike your personal loan it have low monthly payment including low interest rates compared to personal loans.

With a building loan the bank pays out the loan in stages, as each stage of the construction process is completed.

Allowing you to reevaluate each amount and stage as the construction happens.

Check our this article: https://www.ooba.co.za/resources/building-loans/">https://www.ooba.co.za/resources...

Here is the difference between a home loan and a building loan. https://www.privateproperty.co.za/advice/property/articles/the-difference-between-home-loans-and-building-loans/6561">https://www.privateproperty.co.za/advice/pr...

This is not financial advice but financial education in order to understand the concept of home building loans.