FNB Home Loans: Application Process, Features, and Benefits

FNB home loans provide a solution for those looking to purchase or upgrade residential properties. To be eligible, a stable income source and adherence to the bank’s minimum loan qualification requirements are necessary. The loans cater to various clients, including single and joint applicants, as well as juristic property owners. First-time homebuyers can also qualify by meeting specific FNB home loan requirements.

How to Apply for FNB Home Loans:

1. Application Options:
   • Apply online through FNB’s website or visit a branch.
2. Eligibility Criteria:
   • Permanently or self-employed individuals are eligible.
   • A deposit of 10-20% of the property value is required.
   • Applicants must be at least 18 years old, financially stable, and under 75 years.

Application Process:

1. Documents Required for Permanent Employees:
   • Latest 6 months’ salary slips
   • South African ID and proof of residence
   • Stamped six months’ personal bank statements
   • Additional documents as applicable
2. Documents Required for Self-Employed:
   • Latest 12 months’ stamped bank statement
   • Personal assets and liabilities statement
   • Two years of annual financial statements
   • Latest one-year stamped business account bank statements
   • Additional documents as applicable
3. Credit Assessment:
   • FNB conducts standard checks, including a credit assessment, to ensure loan suitability.

Home Loan Calculator

How much would you like to borrow?

R

This field is required and the value should be a number.

Interest Rate This field is required and the value should be a number.

The interest rate of a loan will vary based on your credit score and risk profile.

Repayment Term

Day / Months / Years months years

Calculate

This online loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Repayment Plans:

• Flexible Options:
  • Stable repayment plan, add-on repayment plan, or offered repayment amount.
  • Prepaid funds can be used strategically to reduce outstanding balances.

Features of FNB Home Loans:

1. Redraw Facility:
   • Allows withdrawal of extra payments made on top of the minimum monthly repayment.
2. Additional Repayments:
   • Permits extra payments, reducing the overall home loan balance.
3. Interest Only:
   • Offers an interest-only period for 5-10 years, providing flexibility in repayments.
4. Variable and Fixed Interest Rates:
   • Choose between variable and fixed interest rates based on preferences.

Professional Package Discounts:

• FNB Home Loans offer professional package discounts for specific products and services.
• Benefits include waived fees for applications, monthly loans, valuations, and more.

Benefits of FNB Home Loans:

1. Desirable interest rates based on the borrower’s profile.
2. 50% off registered bond attorney fees.
3. Quick and straightforward application process.
4. Access to an affordable bond calculator for cost breakdowns.
5. Online banking for application tracking.
6. Dedicated property finance consultant support throughout the loan process.

FNB Home Loan Calculator:

• Use the FNB Home loan bond calculator to assess monthly repayments, additional costs, and the impact of extra payments on the loan.

FNB Contact Details:

• Contact FNB for a competitive quote through the online application form or call 087 730 11 44.