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 Sahulat Scheme Construction Benefits
Income Criteria | Verifiable net disposable monthly income |
Facility Amount | Up to PKR 25,000,000/- to affluent individuals of Karachi, Lahore, Islamabad / Rawalpindi, Faisalabad, Multan, Peshawar and QuettaUp to PKR 10,000,000/- in all other areas |
Facility Tenure | 3 – 20 years |
Profit Rate | Salaried: 1 Year KIBOR * + 3.00%Self-employed Businessmen: 1 Year KIBOR * + 3.50%Self-employed Professionals: 1 Year KIBOR * + 3.50%* Yearly repricing on each anniversary of financing. |
Pricing | 1 Year KIBOR of the 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. |
Loan To Value (LTV) Ratio / HBFC’s Share | 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 | The construction is as per the approved building planFor the front coastal line for e.g. front row of Sea View Township and Darakhshan Villas, DHA / Clifton Karachi, subject to the soundness certificate from approved PBA Valuer. |
Ghar Sahulat Scheme Construction 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:
· Verifiable net disposable monthly income.
5. Employment / Business / Professional Tenure:
- Salaried : Minimum 1 year continuous employment
- Self-employed Businessmen / Professionals: Minimum 2 years in current business / industry
Ghar Sahulat Scheme Construction Schedule of Charges
Application Processing Fees | Financing up to PKR 4,500,000/- : processing fees is PKR 2,000/-Financing above PKR 4,500,000/- : processing fees is PKR 5,000/- |
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 ActualTo be borne by the Customer |
Legal Documentation Charges * | At ActualTo be borne by the Customer |
Medical Examination for SLIC Life Insurance Clearance | At Actual |
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 Sahulat 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
Email: info@hbfc.com.pk
Location: View Location