FNB Home Loans: The economy is tough, there is a recession and the banks are not lending out any money…

That is the general feeling and the consensus among the public and those not adequately informed, but is this really the case?

As a matter of fact FNB home loans are being granted into the millions of rands on a daily basis.

What do you need to do and be sure of when applying for a FNB home loan?

FNB Home Loans qualification Tip 1 – Be Credit Worthy.  What does being credit worthy entail?

This would include paying the full monthly installment due and on time.

FNB Home Loans Qualification Tip 2 – Check Your Affordability

Check that you will be able to afford the bond you are applying for.  At present banks will only look at taking 30% of your income as a bond installment.  That means you must still have enough left for living and traveling expenses and other commitments.

FNB Home Loans Qualification Tip 3 – Save

In line with Tip 2, take your current rent amount and subtract it from your future bond installment amount.  Save that difference for six months and only after 6 months look at buying a house.  Doing this has 2 benefits, firstly you will know if you are going to be able to afford those monthly home loan installments.  And secondly you will have savings for moving and other expenses, perhaps even some new furniture.

So, is it impossible to qualify for FNB home loans? No, definitely not.  You can qualify for FNB home loans if you adhere to the tips given above.

I understand this is a lot for you to take in so I am happy to spend some time with you and answer any questions you have about choosing FNB home loans . You are welcome to contact my office at 086 110 6204 or send me a personal email at: info@gpfmortgage.co.za