House building finance company Ghar Pakistan Plus Scheme

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 Plus Scheme Construction Benefits

Income CriteriaIncome (net of taxes and pension contributions) for Individual should not exceed PKR 175,000/- per monthHousehold’s income should not exceed PKR 230,000/- per month.The income of Guarantor should not exceed the income defined for individual i.e. PKR 175,000/- per month and Household means clubbed income of Applicant and Co-applicant(s). Guarantors are not included in the definition of household.
Facility AmountUp to PKR 8,800,000/-
Facility Tenure3 – 20 years
Profit Rate01 Y KIBOR + 2.50%(Floor 8% and Ceiling 13%){ Yearly reprising as per applicable KIBOR }
Pricing1 Year KIBOR of the last working day of the previous month mentioned on SBP’s official website shall be applied for fresh and renewal cases during the following whole month.
Type of FinancingBTF shall be employed strictly as per the terms of Housing PRs and the agreed arrangement with PMRC
Loan To Value (LTV) RatioUp to 85% on the basis of market value assessed by valuator (of the property to be mortgaged) or Construction value, whichever is lower
Balloon PaymentAmount should be greater than or equal to 10% of the outstanding principal amount
Insurance / TakafulLife Insurance and Property Takaful coverage to the extent of financing amountInsurance / Takaful Companies on HBFC’s Approved Panel
Collateral SpecificationsMaximum appraised value (market value assessed by PBA approved valuator) of the property should not exceed PKR 11,000,000/-

Ghar Pakistan Plus Scheme Construction Eligibility and Required Documents

  1. Citizenship:

·         Resident Pakistani

·         Non Resident Pakistani

  1. 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.
  2. Age of Applicant / Co-applicant / Guarantor:
    • Salaried: 18 – 57 years
    • Self-employed Businessmen / Self-employed Professionals: 18 – 62 years
  3. Income Criteria: 

·         Income of Individual: The income of an individual must be up to PKR. 175,000 per month (pension contribution & net of taxes)

·         Income of Household: Up to PKR. 230,000 per month.

·         Income of Guarantor: Up to PKR.  175,000 per month.

  1. Employment / Business / Professional Tenure:
    • Salaried : Minimum 1 year continuous employment
    • Self-employed Businessmen / Professionals: Minimum 2 years in current business / industry

Ghar Pakistan Plus Scheme Construction Schedule of Charges

Application Processing FeesFinancing up to PKR 1,000,000/- : processing fees is PKR 2,000/-Financing above PKR 1,000,000/- : processing fees is PKR 5,000/-
Income Estimation ChargesSalaried: 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 ChargesFlat: 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 ActualTo be borne by the Customer
Legal Documentation Charges *At ActualTo be borne by the Customer
Medical Examination for SLIC Life Insurance ClearanceAt Actual
Balloon Payment ChargesNil
Early Settlement ChargesNil
Penalty for each missed paymentPKR 1,000/-
Storage ChargesPKR 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 Plus Scheme Construction

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


Location: View Location

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