October 3, 2022
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Personal Home Loans – How to Apply for The First Bank Personal Home Loans

First credit loan

Are you hoping on getting a new home before the end of the year 2022? Well, here is a great deal for FirstBank customers looking to buy a home, construct one or renovate one. The First bank personal home loans are highly flexible and are designed to give the financial assistance many need and require to have an enjoyable and relaxing home.

Types of First Bank Personal home loans

The three (3) personal home loans that are made available by First bank for Customers are:

  • Outright purchase.
  • Construction Mortgage.
  • Home equity (Refinancing).

As long as you have a verifiable and a steady source of income, you are completely eligible for any of the First Bank Personal home loans. Now let us see some of the terms and conditions associated with the First Bank Personal home loans.

Terms and Conditions of the First Bank Personal home loans

Amount: The minimum amount offered for the personal home loan is N1 million. The maximum loan amount is N50 Million.

Tenor: The First Bank Personal home loan is expected to be repaid within 20 years subject to 60 years retirement age.

Rate: The interest rate is competitive. You can get more information directly from the bank.

Also note that the property to be financed must not be for commercial purpose but must be residential. There is a minimum down payment of below 30%, although, this is subject to the location.

What documents are required for the First Bank Personal home loans?

The following documents are required for the First Bank Personal Home Loans

  1. A well written application letter.
  2. A filled personal home loan application form.
  3. A pay slip showing the last three months.
  4. Applicant’s letter of total emolument.
  5. Confirmation of the applicant’s employer on the FBN – approved list. Your employer has to be FBN approved.
  6. Valid title documents.
  7. A copy of the valid title document for a legal search to be carried out.
  8. A letter of awareness and domiciliation of salary for the facility’s duration.
  9. Current tax clearance, current tenement receipt.

How to apply for the First Bank Personal home loans

Step 1

Get all the necessary document in place.

Step 2

Download the First bank personal Home Loan application form through this link.

Step 3

Step 4

Complete the form and take it to the nearest First bank branch to you.

Step 5

Submit your application and begin the process.

That’s One smart way to get the First bank personal home loans. Note that there are lots of loan offers available and you can get all of them in our One Smart Way blog. Please Share and comment in the comment section.

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