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Buying a home


So, you're in the market for a new home, here are some guidelines to help you every step of the way.

Know what you want
Know what size suits your needs and give good consideration to your choice of area.

You can download and view detailed area reports for your chose area.

Do your sums


Know exactly how much you can afford. It's not just the instalment you'll be paying - you need to include insurance (homeowners, household and life) and municipal costs in your budget.

Use our bond calculator to see how much you'll need on a monthly basis, to cover the bond. After that you need to add the additional costs to this figure.

Banking on a budget


A home loan for first time buyers can be difficult to understand, so contact an FNB Home Loans consultant on 087 730 11 44 or visit your nearest branch. You could go online to do an affordability assessment to find out exactly how much credit you can access for your new home.

Understanding the costs


Putting down a deposit

You may need to put some of your own money on the table before you can buy a house. Depending on your financial situation, some of our home loan products allow you to qualify for larger home loans without paying a deposit.

The right package

FNB has a wide range of financial products tailored to meet your individual requirements. It's important to choose a Home Loan package that works for you.

Plan for additional costs

Be aware of other once-off costs that you will have to pay, over and above the deposit. These include initiation and administration fees, legal costs, bond registration fees and VAT/transfer duty.

Begin the search


There are a number of factors to consider when determining the initial amount to offer on a home

  • Sale price of similar houses in the neighbourhood for the past year or so will give you a good estimate of current market value.
  • The general condition of the house is also an important pricing factor. Information concerning things that need to be done in or around the building must be taken into consideration when making a price offer.

Know what you are buying


View as many properties as possible. Make comparisons. Make a short list. Sleep over the short list. Do not guess or assume anything. Ask the seller or estate agent as many questions as you can until you are totally satisfied. It is your responsibility to ensure that a prospective home will not require excessive future maintenance.

Documents


It's now time to think about signing an offer to purchase with the seller and to complete your home loans application. Ask for assistance on 087 730 11 44, or apply online or contact your nearest FNB branch.

Checklist for first-time buyers


Required documentation for applicants

  • Valid South African ID or passport and a copy thereof
  • A copy of your spouse's ID or passport, if married
  • Proof of current residential address (i.e. municipal account, Telkom account or valid TV license)
  • Employer's physical address and telephone number
  • Marriage certificate
  • Pay slip
  • Offer to Purchase

Checklist for existing home loan owners


Required documentation for applicants:

  • Valid South African ID or passport and a copy thereof
  • A copy of your spouse's ID or passport, if married
  • Proof of current residential address (i.e. municipal account, Telkom account or valid TV license)
  • Employer's physical address and telephone number
  • Marriage certificate
  • Payslip
  • Offer to Purchase
  • Six months statements on the existing home loan if you have a home loan with another financial institution
  • Existing home loan account number for existing customers
  • The registration number of the company, trust, close corporation, if applicable

Tracking your home loan


  • Once approved, the bank instructs the bond attorney to begin registering the bond.
  • The seller will advise the Transferring Attorney to transfer the property. Title deeds and cancellation figures are requested from the bank currently holding the bond. A rate clearance is from the local authorities/municipality.
  • The Bond Attorney contacts the transferring attorney and advises the amount available for guarantees. They then request the draft transfer deed and guarantee requirements.
  • The cancellation attorney is requested to cancel the seller's bond on receipt of a guarantee for the outstanding amount.
  • Once the transfer attorney has received the title deed and cancellation figures, the buyer and the seller sign the transfer documents. The buyer pays the transfers costs to the Transferring Attorney.
  • The Bond Attorney prepares the bond documents and the buyer signs these documents and pays the cost.
  • The Bond Attorney lodges the documents at the deeds office.
  • The deeds office receives the documentation and checks it before being registered. This process can take about three months from the date of approval.

Signing on the dotted line


  • Before a Home Loan is granted, your financial position and credit record will be checked. The bank will pay out the loan on the day of registration.
  • Once the legal documents are signed, the transfer fees paid and the seller of the property paid, the deed is done. You can congratulate yourself because you are now a proud owner of your new home!
  • By boosting your monthly instalments, you can make huge savings on interest and pay off your Home Loan in double-quick time.

Preparing for the big move


Let us guide you through the process with our useful checklists that prepare you for your big day with great tips on helping you settle in faster.

Steps to buying


Be prepared for the big step

The buying process can be rather complicated and lengthy but here are some general guidelines to assist you every step of the way.

Buying a home

Do your sums

Banking on a budget

Understanding the costs

Begin the search

Know what you are buying

Documents

Checklist for first-time buyers

Checklist for existing home owners

Tracking your home loan

Signing on the dotted line

Preparing for the big move