To be a leading housing finance institution in the country for providing affordable housing solutions to low and middle income groups while encouraging new constructions in the small and medium housing (SMH) sector.
Ghar Pakistan Scheme Purchase Benefits
| Income Criteria | Up to PKR 100,000/- per month |
| Facility Amount | Up to PKR 4,500,000/- |
| Facility Tenure | 3 – 20 years |
| Pricing | 1 Year KIBOR of last working day of the previous month mentioned on SBP’s official website shall be applied for fresh and renewal case during the following whole month |
| Profit Rate | 01 Y KIBOR + 2.00%(Floor 7% and Ceiling 12%){ Yearly reprising as per applicable KIBOR } |
| Loan To Value (LTV) Ratio | Up to 70% on the basis of market value assessed by valuator (of the property to be mortgaged) or purchase value, whichever is lower. |
| Balloon Payment | Amount should be greater than or equal to 10% of the outstanding principal amount |
| Insurance / Takaful | Life Insurance and Property Takaful coverage to the extent of financing amount* Insurance / Takaful Companies on HBFC’s Approved Panel |
| Collateral Specifications | House – Maximum plot size up to 300 sq. yds. or 10 MarlaFlat – Maximum covered area up to 1400 sq. ft. (as per conveyance deed) ORMaximum appraised value (market value assessed by PBA approved Valuator) of the property should not exceed PKR 5,000,000/- |
Ghar Pakistan Scheme Purchase Eligibility and Required Documents
- Citizenship:
· Resident Pakistani
· Non Resident Pakistani
- Facility of Co-applicant / Applicant / Guarantor:
- Co-applicant & Primary (or Single) allowed
- Co-applicant must be an immediate family member
- The guarantor must be a family member who has the right to inherit the property.
- Age of Applicant / Co-applicant / Guarantor:
- Salaried: 18 – 57 years
- Self-employed Businessmen / Self-employed Professionals: 18 – 62 years
- Income Criteria:
· Up to PKR. 100,000 per month (pension contributions and net of taxes).
5. Employment / Business / Professional Tenure:
- Salaried : Minimum 1 year continuous employment
- Self-employed Businessmen / Professionals: Minimum 2 years in current business / industry
Ghar Pakistan Scheme Purchase Schedule of Charges
| Application Processing Fees (One Time, non-refundable) | PKR 2,000/- |
| Income Estimation Charges | Salaried: PKR 2,100/- to PKR 5,500/- Employees of Govt., Semi-Govt., Companies listed in Stock Exchange and Non-Resident Pakistani: NilSEB / SEP: PKR 3,000/- to PKR 5,500/- |
| Property Valuation Charges | Flat: PKR 2,000/-House: PKR 2,500/- (Plus PKR 500/- to PKR 700/- in case of construction case before releasing the third tranche) |
| Title Clearance Charges * | At Actual* To be borne by the Customer |
| Medical Examination of SLIC Life Insurance Clearance | At Actual |
| Legal Documentation Charges * | At Actual* To be borne by the Customer |
| Late Payment Charges | PKR 1,000/- on each overdue monthly payment |
| Balloon Payment Charges | Nil |
| Early Settlement Charges | Nil |
| Penalty for each missed Payment | PKR 1,000/- |
| Storage Charges | PKR 100/- per month(if mortgaged property documents are not collected within 90 days from the date of account closing) |
How to Apply for Ghar Pakistan Scheme Purchase
The interested applicant should visit the nearest HBFC branch and fulfill the application form along with required documents.
Housing Building Finance Company Limited Helpline Numbers
Address: 3rd floor, Finance & Trade Centre, Shahrah-e-Faisal, Karachi, Pakistan
Phone: (+92) 21 35641711-15
Telephone: 0800-42325
Phone: +92-21-35630954
Email: info@hbfc.com.pk
Location: View Location
