How To Qualify For An FNB Home Loan

How To Qualify For An FNB Home Loan 2023, FNB South Africa Guide

Do you want to know how to qualify for an FNB home loan in South Africa.

Everyone would like to have a place to call home. FNB can facilitate the dream through an FNB home loan.

But you have to qualify for the loan before applying.

If you don’t know what you need to have to meet to qualify for an FNB home loan, worry not.

It is the reason I have this article to educate you on what you need to qualify for the loan.

FNB home loan is the right loan to help you buy an already built home.

The loan is combined with other facilities and options to make it personalized. 

The bank also personalizes the interest after evaluation.

With all these features, it is an ideal loan for owning your home.

However, it would be best to meet the qualification criteria and have all the documents needed to apply for the loan.

Requirements For Qualifying For First National Bank Home Loan

The following are the qualification criteria you ought to meet to qualify for the loan.

These qualifications include the following:

1. The applicant should be earning a minimum of R25 000 per month.

2.  If you are applying as a joint, one of you should be earning a minimum of R25 000 per month.

3. The application Home Loan Guidant should be 18 years or older.

4. The applicant should have a clear credit record.

5.  The applicant should meet the affordability criteria.

6. The applicant should have the legal capacity to sign a contract.

7. The property to be bought should be valued at R600 000 or higher.

Documents Needed To Qualify For An FNB Home Loan

If you meet the above qualification criteria, you also need to have the following documents when applying for the loan.

1. Proof of income documents such as your payslip, bank stamen or any other documents proving you have met the earning requirement

2. Latest financial statements if self-employed provide the

3. Proof of residence documents such as utility bills, not more than three months old.

4. Identity proof documents either Copy of South African ID card or green book

5.  Completed Debit order authorization form

6. Completed New Home Loan application form

The bank may also request other documents where applicable, such as:

  •         Copy of marriage certificate
  •         A copy of an offer to purchase 
  •         Access funds for Further Lending application form
  •         Flexi Option Request application form

Now you know the required qualification criteria and documents.

If you have all of them and meet the qualifications after application, your loan request will be approved. 

That is all you need to know about how to qualify for FNB home loan in South Africa.

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