Lahore: The House Building Finance Company (HBFC) has introduced a financing facility, Ghar Pakistan Scheme (GPS), for low and middle-income groups – according to a publication.
This fixed-rate loan scheme pertains to the purchase and construction of houses and apartments. HBFC will provide financing of up to PKR 25 million.
- Rate (1 year KIBOR + 3.25% for salaried class) (1 year KIBOR + 3.50% for self-employed professionals and businessmen)
- Loan-to-Value (LTV) 70:30
- Debt Burden Ratio (DBR) up to 50% of Net Verifiable Income
- Facility of Co-applicant/Guarantor
- Income Clubbing Facility (for Co-applicant/Guarantor)
- Life & property insurance coverage
- Balloon payment & early settlement facility
- Medical examination exemption for financing up to PKR 5 million
The loan has to be returned during a flexible duration ranging from three to 20 years. As per the requirements communicated, applicants have to be either Pakistani CNIC holders or non-resident Pakistanis.
The age limit for availing the HBFC scheme is 18-57 years for salaried class and 18-62 years for self-employed professionals and businessmen. Moreover, there is no minimum income requirement.
For more information, call HBFC officials at this number: 080042325 during working hours, or visit their website, at: www.hbfcl.com
Their Head Office is located on the 3rd Floor at Finance & Trade Centre, Shahrah-e-Faisal, in Karachi.
Stay tuned to Zameen.com for more up-to-date information on HBFC.