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House Building Finance Company HBFC KHAAS Scheme Loan

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.

HBFC KHAAS Scheme Benefits

Target MarketWidowsChildren of Martyrs (Shaheed) of law and enforcement agencies, Armed Forces and Civilians martyred in terrorist attacksSpecial persons holding CNIC with disability logo/symbolTransgender (TGs)Persons in areas severely affected by terrorism i.e. Mohmand, Bajaur, Orakzai, Kurram, Khyber, North Waziristan and South Waziristan districts of Khyber Pakhtunkhwa
Income CriteriaVerifiable net disposable monthly income
Facility AmountMaximum up to PKR 2,700,000/-(Including up to PKR 1,000,000/- for Plot purchase)
Facility TenureUp to 12 ½ years(The tenure of financing will be determined with respect to the age of the eldest applicant(s) / guarantor(s) till he / she attains the age of 60 (for Salaried) or 65 (for SEB / SEP) but maximum financing tenure shall not exceed 12 ½ years)
Profit RateFixed @ 4% per annum
Types of FinancingResidential Construction on Applicant’s Owned Land / PlotPurchase of Plot and construction thereon(Note: Extension of already constructed housing unit (for e.g. construction of another floor, construction of additional rooms etc.) is not allowed
Loan To Value (LTV) Ratio / HBFC’s Share90 : 10(HBFC : Customer)HBFC’s financing ratio will be maximum up to 90% on the basis of forced sale value (FSV) of the mortgaged property
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 amount*Insurance / Takaful Companies on HBFC’s Approved Panel
Collateral SpecificationsUrban AreasMaximum value* of the housing unit/apartment (including plot value) up to PKR 3,000,000/- AND Covered area of housing unit/apartment up to 850 sq.Other than Urban AreasMaximum value* of the housing unit/apartment (including plot value) up to PKR 3,000,000/- (the condition of covered area is not applicable here)(Market value to be assessed by valuator)

HBFC KHAAS Scheme Eligibility and Required Documents

1.      General Criteria:

§  The customer must not own any residential housing unit / flat / apartment i.e. he / she will be the first time home owner

§  The customer must not have availed housing finance previously from any bank / DFI

§  Sale or renting out of housing unit, financed under this scheme shall not be allowed until full adjustment of outstanding finance OR five (5) years after the date of first disbursement or whichever is earlier

2.      Citizenship:

§  Resident Pakistani

§  Non Resident Pakistani  

3.      Facility of Applicant / Co-applicant:

o   Primary (or Single) & Co-applicant allowed

o   Co-applicant must be an immediate family member

o   Guarantor must be a family member having inheritance right in the property to be mortgaged

4.      Age of Applicant / Co-applicant / Guarantor

o   Salaried: 18 – 60 years

o   Self-employed Businessmen/Professionals: 18 – 65 years

5.      Income Criteria:

o   Verifiable net disposable monthly income

o   Resident Pakistani: No minimum limit

o   Non Resident Pakistani: Greater than PKR 50,000/-

6.      Employment / Business / Professional Tenure:

o   Salaried: Permanent/contractual job with minimum 1 year continuous service

o   Self-employed Businessmen/Professional: Minimum 2 years in current business/industry

7.      Credit Checking:

·         Applicant /Co-applicant(s) / Guarantor(s) data must be current as per the following latest reports (not more than one month old on the date of financing approval)

·         E-CIB

·         Data Check

·         NewsViz

How to Apply for HBFC KHAAS Scheme Loan

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

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