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Document required For FNB Home Loan Application: Documents You Need to Have
Looking for information on document required For FNB Home Loan? Applying for a home loan can be a lengthy and complex process. However, to make the process smoother and faster, you should ensure that you have all the necessary documents. This article will provide a comprehensive list of the documents you need when applying for a home loan in Namibia.
FNB Home Loan Documents Required for Salaried Clients
If you are a salaried client, the following documents will be required:
- Contract (Deed of sale, Offer to purchase)
- Identity Document or Valid passport
- Work permit/permanent residence for foreign nationals
- Marriage Certificate (if applicable)
- ANC contract (if applicable)
- Final divorce order (if applicable)
- Government Subsidy Booklet or Qualification letter from Employer
- Latest Payslip / 6 months’ payslips if salary varies monthly
- 6 months’ payslips for commission earners
- Balance sheets of all applicants (if married COP joint and if married ANC separate)
- Income and Expenditure of all
- 6 months bank statements if salary is not paid to an FNB Namibia account
FNB Home Loan Documents Required for Self-Employed Clients
If you are self-employed, the following documents will be required:
- Contract (Deed of sale, Offer to purchase)
- Identity Document or Valid Passport
- Work permit/permanent residence for foreign nationals
- Marriage Certificate (if applicable)
- ANC contract (if applicable)
- Final divorce order (if applicable)
- Annual Financial Statement for the past 2 financial years and managements accounts if financial year-end is older than six months on the date of application
- Cash flow forecast
- Certificate of Good Standing from Receiver of Revenue
- 6 months bank statements if the business account is not held with FNB Namibia
- Any other related Documents (if business is registered as Company)
FNB Home Loan Documents Required for Close Corporations
If you own a close corporation, the following documents will be required:
- Contract (Deed of sale, Offer to purchase)
- Identity Document or Valid passport
- Work permit/permanent residence for foreign nationals
- Marriage Certificate (if applicable)
- ANC contract (if applicable)
- Final divorce order (if applicable)
- Founding Statement and Certificate of incorporation (of property you intend to buy)
- Annual Financial Statement for the past 2 financial years and managements accounts if financial year end is older than six months on the date of application
- Cash flow forecast
- Proof of ownership
- Certificate of Good Standing from Receiver of Revenue
- 6 months bank statements if the business account is not held with FNB Namibia
FNB Home Loan Documents Required for Companies
If you own a company, the following documents will be required:
- Contract (Deed of sale, Offer to purchase)
- Identity Document or Valid passport
- Work permit/permanent residence for foreign nationals
- Marriage Certificate (if applicable)
- ANC contract (if applicable)
- Final divorce order (if applicable)
- Annual Financial Statement for the past 2 financial years and managements accounts if financial year end is older than six months on the date of application
- Cash flow forecast
- Resolution authorizing transaction, loan, and signatures
- Certificate of Good Standing from Receiver of Revenue
- 6 months bank statements if the business account is not held with FNB Namibia
- Any other company-related documents
FNB Home Loan Documents Required for Trust
When applying for a home loan through a trust, there are several documents that you will need to have ready to speed up the application process. Here is a breakdown of the required documents and why they are necessary:
- Contract (Deed of sale, Offer to purchase) – This is a legal document that outlines the terms of the sale between the buyer and seller.
- Identity Document or Valid passport – This is a form of identification that proves your identity.
- Work permit/permanent residence for foreign nationals – If you are a foreign national, you will need to provide proof of your right to work or reside in Namibia.
- Marriage Certificate (if applicable) – If you are married, you will need to provide a copy of your marriage certificate.
- ANC contract (if applicable) – If you are married in community of property, you will need to provide a copy of your ANC contract.
- Final divorce order (if applicable) – If you have been divorced, you will need to provide a copy of the final divorce order.
- Deed of Trust – This is a legal document that outlines the terms of the trust.
- Trust Certificate – This is a document that proves the existence of the trust.
- Annual Financial Statement for the past 2 financial years and managements accounts if financial year end is old than six months on date of application – This is a record of the trust’s financial performance and is used to assess its creditworthiness.
- Cash flow forecast – This is a projection of the trust’s future cash flows and is used to assess its ability to repay the loan.
- Certificate of Good Standing from Receiver of Revenue – This is a document that proves that the trust is in good standing with the tax authorities.
- 6 months bank statements if business account is not held with FNB Namibia – This is a record of the trust’s banking activity and is used to assess its financial stability.
In addition to the above documents, if you are applying for a FNB building loan or further bond, you will also need to provide the following Document required For FNB Home Loan Application:
- Approved building plans – This is a set of plans that have been approved by the relevant authorities.
- Specification list/quotation – This is a detailed list of the materials and services required to complete the building project.
- Building contract – This is a legal document that outlines the terms of the building project.
- Bill of Quantities – This is a document that lists all the materials required for the building project and their respective costs.
- Municipality account – This is a record of the municipality rates and taxes that are payable on the property.
It is important to note that these documents may vary depending on the specific requirements of the financial institution providing the home loan. Therefore, it is important to confirm with your lender what documents they require for a trust home loan application.
Bank Anytime, Anywhere with FNB Mobile App: Features and Benefits
Purchasing a home is one of the biggest decisions you will ever make. Finding the right home and financing it can be overwhelming. Luckily,
A range of products offered by FNB Home Loans
Traditional Home Loans
The Traditional Home Loan provides finance for the acquisition of established residential property. It can be customized with a range of options and facilities to suit your specific needs. You can make it your own by selecting one of the many available options, such as a Flexi Prepaid or Re-advance facility, or a Fixed Interest Rate Option.
EasyBond
The EasyBond is designed specifically for first-time homeowners. With no deposit required, this option offers a 105% bond, which means transfer and registration fees are already included in the bond amount. This makes it easier for first-time homeowners to enter the property market.
Building Loan
If you want to build your dream home from scratch, a Building Loan may be the right option for you. This loan provides finance to acquire vacant land and simultaneously build a new home. Once the home is built, the building bond reverts to a normal Home Loan.
Flexi Prepaid
The Flexi Prepaid Home Loan option allows you to make additional deposits via any online channel to your bond. This option allows you to reduce your bond period, thereby paying your home loan off quicker.
Re-advance
A Re-advance facility provides existing customers access to the funds that make up the difference between their original registered Home Loan amount and the outstanding balance. It’s simpler than registering an additional bond and the funds are readily available.
Fixed Interest Rate Option
This Home Loan repayment option is ideal for those with a Home Loan of N$100,000 or more. When interest rates are rising, this option offers stability, as the rates will be fixed for a particular period.
Upfront Bond
An Upfront Bond is a pre-approval certificate that displays the amount of finance which has been approved in principle by the bank, which the customer qualifies for. You also have peace of mind regarding how much you can realistically afford. Once you have the pre-approval certificate, you can more easily negotiate pricing with estate agents and the like. The Upfront Bond will be valid for a period of 12 weeks.
Future Use
FutureUse is a progressive Home Loan solution that allows you to register a bond greater than the Home Loan amount you require, creating a surplus amount that you can access at a later stage. By planning ahead, you can use the available value in your home to your best advantage.
FNB Home Loans offers a range of products to suit your needs, whether you are a first-time homeowner or a seasoned homeowner. With a variety of options available, FNB Home Loans makes it easy for you to find the perfect solution for your needs. For more information, visit https://www.fnbnamibia.com.na/loans/home-loans/index.html
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