Last Updated on November 27, 2023 by Elidge Staff

FNB Namibia Building Loan: Your guide to building your dream home

Building or renovating a home can be an exciting yet daunting task, and financing it is a major consideration. That’s where FNB Namibia Building Loan comes in. In this guide, we’ll take a closer look at what this loan offers and how to qualify for it.

home model with home loan concept | FNB Namibia Building Loan — home model with home loan concept | Building Loan

What is the FNB Namibia Building Loan?

The FNB Namibia Building Loan is a loan designed for those who are looking to build or renovate a home. Once your building or renovation is complete, your bond would revert to a normal home loan. This loan offers peace of mind by ensuring that you get the home you want without the hassle of having to convert your loan afterwards.

Qualifying criteria for the FNB Namibia Building Loan

To qualify for the FNB Namibia Building Loan, you should:

Be a Namibian resident
Have fixed employment for at least 2 years
Have a bank account that is conducted satisfactorily
Your monthly repayments cannot be more than 30% of the gross monthly income (individual or combined)

Documents needed for the FNB Namibia Building Loan

The following documents are needed for private individuals:

Building contract
ID/passport
Marriage certificate/ante nuptial contract (if applicable)
Final divorce order (if applicable)
Latest payslip
Income and expenditure
Balance sheet (assets & liabilities)
Housing scheme and qualifying letter
Bank statements for the last 6 months (if not banking with FNB)
Deed of trust (if applicable)
Approved building plans
Specification list/quotation

The following documents are needed for close corporations:

Building contract
ID/passport
Marriage certificate/ante nuptial contract (if applicable)
Final divorce order (if applicable)
Latest payslip
Income and expenditure
Balance sheet (assets & liabilities)
Housing scheme and qualifying letter
Bank statements for the last 6 months (if not banking with FNB)
Deed of trust (if applicable)
Approved building plans
Specification list/quotation
Founding statement
ID/passports of all members

How to apply for the FNB Namibia Building Loan

You can start your application online or visit your nearest FNB Namibia branch. Other ways to apply include contacting FNB Namibia directly.

Building or renovating a home is an exciting and worthwhile investment. The FNB Namibia Building Loan offers a convenient and easy way to finance your project. By following the qualifying criteria and providing the necessary documents, you can be on your way to building your dream home.

Bank Anytime, Anywhere with FNB Mobile App: Features and Benefits

Frequently Asked Questions about the FNB Building Loan

What is a Building Loan?

A Building Loan is a loan product offered by FNB Namibia that is specifically designed for individuals who want to build or renovate a home.

How do I know if I qualify for the Building Loan?

To qualify for a FNB Building Loan, you must be a Namibian resident, have fixed employment for at least 2 years, have a bank account that is conducted satisfactorily, and your monthly repayments cannot be more than 30% of the gross monthly income (individual or combined).

How can I apply for a Building Loan?

You can apply for a FNB Namibia Building Loan by visiting the FNB Namibia website and clicking on the “Start Application Now” button.

Can I apply for a Building Loan if I am not a Namibian resident?

No, only Namibian residents are eligible to apply for a Building Loan.

What documents do I need to provide when applying for a FNB Building Loan as a private individual?

As a private individual, you will need to provide a building contract, ID/passport, marriage certificate/ante nuptial contract (if applicable), final divorce order (if applicable), latest payslip, income and expenditure, balance sheet (assets & liabilities), housing scheme and qualifying letter, bank statements for last 6 months (if not banking with FNB), deed of trust (if applicable), approved building plans, and specification list/quotation.

What documents do I need to provide when applying for a FNB Building Loan as a close corporation?

As a close corporation, you will need to provide a building contract, ID/passport, marriage certificate/ante nuptial contract (if applicable), final divorce order (if applicable), latest payslip, income and expenditure, balance sheet (assets & liabilities), housing scheme and qualifying letter, bank statements for last 6 months (if not banking with FNB), deed of trust (if applicable), approved building plans, specification list/quotation, founding statement, and ID/passports of all members.

Can I apply for a Building Loan if I am self-employed?

Yes, you can apply for a FNB Building Loan if you are self-employed, as long as you meet the qualifying criteria and provide the necessary documents.

How long does it take to get approved for a FNB Building Loan?

The approval process can take anywhere from a few days to a few weeks, depending on the complexity of the application and the completeness of the documents provided.

What happens after the building or renovation is complete?

After the building or renovation is complete, your bond will revert to a normal home loan.

Can I get a Building Loan if I already have an existing home loan with FNB Namibia?

Yes, you can get an FNB Namibia Building Loan even if you already have an existing home loan with FNB Namibia, as long as you meet the qualifying criteria and provide the necessary documents.