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.

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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.

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If you have more questions, look through our blog for answers!