Monday 15 March 2010

FNB Housing Finance (Lower Income)

FNB Housing Finance - Rules for Developments – Pre-Valuation Qualification.

To simplify the process for both developers and bond originators, we’ve changed some of the rules that govern the Pre-Valuation of our housing developments for end-user finance:
  • FNB Home Loans and FNB Housing Finance will consider providing end user finance (top-structure or building loans) for developments with unit prices <= R500 000

  • We will bond a minimum number of 30 units. Developments with less than 30 units will be regarded as retail business and retail rules will apply.
  • Income rule for developments where approval has been granted, will be as follows:

70% of customer deals may not exceed the income rule of R15 000 joint or individual.
30% of customer deals may exceed the income rule of R15 000 joint or individual.

Please note that FNB Housing Finance does NOT entertain investors or legal entities.

11 comments:

For Sale by Owner Homes said...

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For Sale by Owner Homes said...

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Home Loans said...

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Netflorist said...

Awesome... It's about time

Wilma Franklin said...

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Anonymous said...

Nice article, the interest rate should drop much more than it is i mean its people deciding how much, they should make it as little as possible i mean saving 8k over 20 is really trivial.. really

Noida Property said...

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