How To Get Home Construction Loan From HBFC in Pakistan

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 Construction Benefits

Income CriteriaUp to PKR 100,000/- per month
Facility AmountUp to PKR 4,500,000/-
Facility Tenure3 – 20 years
PricingThe 1-year KIBOR of the last working day mentioned last month mentioned on the SBP’s official website will be applied for a fresh and renewed case throughout the next month.
Profit Rate01 Y KIBOR + 2.00%(Floor 7% and Ceiling 12%){ Yearly re-pricing as per applicable KIBOR }
Loan To Value (LTV) RatioUp to 70% based on market value assessed by valuator (property to be mortgaged) or purchase price, whichever is lower.
Balloon PaymentThe balance should be more than or equal to 10% of the original amount.
Insurance / TakafulTo the extent of life insurance and property Takaful coverage financing.Insurance / Takaful Companies on HBFC’s Approved Panel
Collateral SpecificationsHouse – 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 Construction Eligibility Criteria 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: Up to PKR 100,000/- per month
  4. Employment / Business / Professional Tenure:
    • Salaried : Minimum 1 year continuous employment
    • Self-employed Businessmen / Professionals: Minimum 2 years in current business / industry

Ghar Pakistan Scheme Construction Schedule of Charges

Application Processing Fees(One Time, non-refundable)PKR 2,000/-
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 of SLIC Life Insurance ClearanceAt Actual
Late Payment ChargesPKR 1,000/- on each overdue monthly payment
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 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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