Calculating Your FNB Home Loan
Buying a home can be a huge decision to make, which is why you need to make sure that you do all your research and plan accordingly. One of the ways to do this is to calculate how much you may qualify for, how much your repayment will be and whether your income will meet your needs.
Before you make the final decision to buy a home via FNB, you need to understand the costs involved, and know what you will be able to comfortably afford. The FNB calculator can help you determine the monthly repayments based on the Home Loan amount and chosen term, as well as the costs you need to be aware of when financing a new home.
In addition to this, you can also choose to work out how additional monthly or lump sum payments will affect your loan repayment and how you can save interest by doing so. Using a calculator will help you to do all the basic calculations on your own, to determine if this is the right option for you.
FNB offers various home loan options, including a traditional home loan that you can use to finance your purchase of a residential home. It’s perfect for first time buyers as well.
An FNB Home Loan offers various benefits, including:
- You can build your dream home to your own specifications using a NHBRC registered builder
- You can buy in selected new residential developments with a choice of design, price and finishes that will suit your needs (excluding Sectional Title units)
- You have the ability to build, alter, redecorate and increase the value of your property if you have just bought a property and do not have funds at your disposal
- FNB will control payout on progress payments as per your instruction
- Interest is charged on the outstanding balance and not the total loan amount
