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Residential Schemes questions and answers. All your Residential Schemes questions answered by our experts and thousands of other members. Get professional Residential Schemes answers to your questions. Get started by asking a new Residential Schemes question now.
Hasham Naqvi
( 96 posts )

[1 answer]
DHA Multan is offering home financing facility to its members. The society has signed up a contract with Bank Al-Habib and under the sweet deal, buyers of DHA Multan can get loans at a special rate of 1 Year Kibor + 1.75% per. The applicants will get life insurance as well and wouldn’t have to pay extra in case of early settlement.



The eligibility criteria dictates:

• Max financing of PKR 10 – 15 million

• A tenure of up to 25 years.

• A monthly income of PKR 60,000 for salaried individuals and PKR 100,000 for businessmen, and the minimum consumer equity will be 30%.



For the plot owners in DHA Multan, I think it’s a pretty sweet deal. Especially the early settlement thing... What do you folks say? Also, can someone explain to me what exactly is consumer equity – As far as I can tell this means that of the total construction cost, the consumer will have to fund minimum 30% to get the bank to pay the rest. Can someone confirm this?

    150 days ago In Residential Schemes
    Post Reply
    Farhad Hassa..
    (23 posts)
    Now they have also added another option of a home financing by Meezan Bank. In the case of Meezan Bank the provided loan is not only for the construction but also purchase of plots -- although in each case, you will have to construct through the loan as well since that is DHA Multan's primary interest in the loans, I suppose.



    To ne specific, the loan is available for purchase of constructed villas, purchase of residential plots and the construction on it, and construction of houses.



    In this case, the tenure runs between 3 to 20 years and you can settle the loan early.



    The 'profit' rates are quite decent in this case as well though slightly higher than Bank Al-Habib loans. KIBOR+2% p.a. And they will finance up to 75% of the value of the property (for salaried people).
      142 days ago 

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