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The Traditional Home Loan is a loan to assist the customer with finance when purchasing an existing residential property. The traditional home loan may be combined with a range of additional facilities and options to personalise your home loan. You can also view optional extras on the Traditional Home Loan page.
|Purchase price deposit (if necessary)
||This is a payment made to secure the property. The amount will be stated in the Offer to Purchase contract
||Varies according to property value
||A fee that is paid by you to the attorney
||From 0,5% to 1,8% of the value of the bond to be registered
||A fee that is paid to the attorney nominated by the seller to transfer ownership of the property
||This fee also varies and is based on the purchase price of the property
|Postage and sundries
||The cost of documents and certificates that the conveyancing attorney will need to submit to the Deeds Office, the bank, the estate agent and you
|Deeds Office registry fee
||A fixed fee for the local registration of the loan
||Minimum R200 to R1 000
||This is a government tax, which you will need to pay based on the purchase price
||Acquisition of property by natural persons:
Less than R750,000 = No transfer duty payable
R750,001 to R1,250,000 = 3% of the value exceeding R750,000
R1,250,001 to R1,750,000 = R15,000 plus 6% of the value exceeding R1,250,000
R1,750,001 to R2,250 000 = R45,000 plus 8% of the value exceeding R1,750,000
R2,250,001+ = R85,000 +11% if the value exceeding R2,250,000
||A fee charged by FNB to process your home loan application
||See annual pricing guide for details. FNB will debit this fee to your home loan on registration.
|Monthly Service fee
||A monthly service fee will be charged on all loans
||See the FNB annual pricing guide for details
Do you qualify?
The Traditional Home Loan is available to individuals, joint applicants and property-owning juristic persons e.g. trusts, non-trading close corporations and private companies. The term of the loan must expire before you reach the age of 75.
A First Bond application for finance through FNB is for a fully built property where no previous finance for the property is in place. The qualifying criteria on a New Home Loan must be met.
First Time Home Buyer
A First Time Home Buyer has never owned a property before and is approaching FNB for finance. You will need to meet the following criteria when applying for a home loan for the very first time:
A Vacant Land application is submitted when a customer requires finance for a portion of land where no building exists.
Do you qualify?
You will need to meet the following criteria when applying for Vacant Land finance from FNB Home Loans:
What you need to apply?
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