Explaining FNB Home Loans

When we come to explaining the FNB home loans it includes a few simple steps and some home loan options. Traditional home loans, the Building loans and their home loans optional add on features, and custom made keys are some of the basic FNB home loans options. The traditional home loans which is a flexible loan which can be modified with a host of add on varieties of ways to serve your personal needs is the base that provides the finance for buying a home.

For structuring a traditional home loan of FNB home loans, a person needs to have a minimum earning of 10,000 and if wishing to purchase a property it should be worth a minimum of 300,000. The term of the loan can go up to 30 years and the options for interest rates include variable, fixed and BA- linked. FNB home loans offers finance up to 100% of the property value. The options of Future use and Flexi Bond, grant a person to modify this loan to suite its needs so that the person can draw cash against the loan and still be in control of its debt.

Those who wants to build their own dream home but they need a little support while getting started for them the classic Building loan of FNB home loan is the perfect solution. Once the home is built, the construction bond transforms to a standard mortgage. A person can get up to 100% of the building contract price which includes land also and gets up to a six headway payments with enough space so that the process of building will keep on running. This FNB home loan gives the option to the person so that loan term can be decided according to a person’s choice and can go up to 20 years and also the interest rate is narrow to variable rate until the building process is completed. Only thing to keep in mind is that construction should be done by the registered builder. The Flexi Bonds add on options provides the same elasticity as it gives the traditional home loan.

Well we had talked a lot about explaining the FNB home loans and we still don’t know anything about the history of this bank which is helping people to make their dream come true and modifying their lifestyle with time. History of foundation of FNB is quite interesting. In 1883 in the small university town of Ghrahmstown in the Eastern Cape the First National Bank also known as FNB and perhaps the father of South African Banking was established. One of the four largest banks in the South African Banking Industry, FNB has a long history of service of 140 years. FNB had become the completely owned and controlled South African entity and in 1968 turned from Barclays. Though some of the strategies of FNB were debatable still FNB managed to hold to its primary mission of helping the people and still after many years FNB is doing the same i.e. helping the people in meeting their dreams.