{"id":76733,"date":"2021-06-08T14:03:24","date_gmt":"2021-06-08T09:03:24","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=76733"},"modified":"2021-06-23T16:32:09","modified_gmt":"2021-06-23T11:32:09","slug":"mera-pakistan-mera-ghar-faqs-on-procuring-home-loans-for-low-cost-nphp-houses","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/mera-pakistan-mera-ghar-faqs-on-procuring-home-loans-for-low-cost-nphp-houses.html","title":{"rendered":"Mera Pakistan Mera Ghar: FAQs on procuring home loans"},"content":{"rendered":"\n<p>Lahore: Zameen.com \u2013 Pakistan\u2019s top real estate portal \u2013 recently held a session with Habib Bank Limited to enable its employees to get their queries and concerns about Prime Minister Imran Khan\u2019s flagship \u2018Mera Pakistan Mera Ghar\u2019 housing loan scheme in Pakistan. The session was attended by a staggering amount of people working in offices of both Zameen.com and its sister concern OLX Pakistan.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/pm-urges-banks-to-simplify-loans-issuance-process.html\" target=\"_blank\" rel=\"noreferrer noopener\">PM urges banks to simplify loans issuance process for applicants of low-cost housing<\/a><\/p>\n\n\n\n<p>Keeping in view the interest of our readers, the following is a list of the details shared in the forum for a better grasp on how to avail this <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/helpline-established-to-address-housing-finance-queries.html\" target=\"_blank\">subsidised home loan<\/a><a href=\"https:\/\/www.zameen.com\/news\/helpline-established-to-address-housing-finance-queries.html\" target=\"_blank\" rel=\"noreferrer noopener\"> <\/a><a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/helpline-established-to-address-housing-finance-queries.html\" target=\"_blank\">scheme<\/a>:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>What is the Mera Pakistan Mera Ghar initiative?<\/strong><\/h4>\n\n\n\n<p>Mera Pakistan Mera Ghar is a Shariah-compliant housing finance model that offers convenient and affordable options to enable interested buyers to buy\/build their dream house.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>What financing types are available under this initiative?<\/strong><\/h4>\n\n\n\n<p>The following two financing types are available for this initiative:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Home purchase<\/strong>: to enable the buyers to get a constructed property<\/li><li><strong>Plot + construction<\/strong>: to enable the buyers to buy a plot and construct the house themselves<\/li><li><strong>Construction: <\/strong>to enable the buyers to construct a house on a plot they already own<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>What is the loan range for the project?<\/strong><\/h4>\n\n\n\n<p>The loans under the said project are being offered in three categories\/tiers.<\/p>\n\n\n\n<p><strong>Tier-1<\/strong><\/p>\n\n\n\n<p>The buyer \u2013 under this tier \u2013 can get a house or an apartment up to 125 square yards (5-marla) apartments in Naya Pakistan Housing &amp; Development Authority (NAPHDA) projects with a maximum covered area of up to 850 sq ft. The maximum price of a house under Naya Pakistan Housing loan scheme will be up to PKR 3.5 million and the maximum financing will be PKR 2.7 million. The minimum customer contribution for this tier is 10% of the property value.<\/p>\n\n\n\n<p><strong>Tier-2<\/strong><\/p>\n\n\n\n<p>The buyer \u2013 under this tier \u2013 can get a house or an apartment up to 125 square yards (5-marla) apartments, with a maximum covered area of up to 1,250 sq ft. There is no cap on the maximum price of this house, and the buyer can get financing up to PKR 6 million for a period of 20 years. The minimum customer contribution for this tier is 10% of the property value.<\/p>\n\n\n\n<p><strong>Tier-3<\/strong><\/p>\n\n\n\n<p>The buyer \u2013 under this tier \u2013 can get a house or an apartment up to 250 square yards (10-marla) apartments, with a maximum covered area of up to 2,000 sq ft. There is no cap on the maximum price of this house, and the buyer can get financing up to PKR 10 million for a period of 20 years. The minimum customer contribution for this tier is 15% of the property value.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-urged-to-take-aggressive-approach-for-lending-home-loans.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP urged to take aggressive approach for lending home loans<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Who is eligible for this loan?<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li>All people with a valid computerised national identity card (CNIC) and age above 25 years<\/li><li>First-time homeowners<\/li><li>The scheme is available for each individual once<\/li><li>Up to 4 people can co-apply for the initiative<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>What is the subsidised markup rate for the loan tenure?<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li>The tier-1 applicants will have to pay 3% markup\/rental for the first 5 years, 5% on the next 5 years and 1 year KIBOR+2.5% for loan tenure exceeding 10 years.<\/li><li>The tier-2 applicants will have to pay 5% markup\/rental for the first 5 years, 7% on the next 5 years and 1 year KIBOR+4% for loan tenure exceeding 10 years.<\/li><li>The tier-3 applicants will have to pay 7% markup\/rental for the first 5 years, 9% on the next 5 years and 1 year KIBOR+4% for loan tenure exceeding 10 years.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>What are the documents required for applying in Mera Pakistan Mera Ghar?<\/strong><\/h4>\n\n\n\n<p>The documents required for the loan application depend on the bank you choose. Also, documentation requirement can vary for salaried, self-employed and non-resident Pakistanis. The constant documents may include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Bank Statement<\/li><li>Account Maintenance Certificate<\/li><li>Employment Certification<\/li><li>CNIC copies<\/li><li>Passport-sized photographs<\/li><li>Salary slip<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">What is the income cap for availing this loan scheme?<\/h4>\n\n\n\n<p>The salary cap can vary bank-to-bank. however, people who earn PKR 30,000 per month (and whose salary is transferred into bank account) are encouraged to apply. Moreover, up to 4 people can pool their income for this loan and get better financing. For self-employed individuals, the income should be PKR 50,000 per month. The total employment tenure required for loan qualification is 5 years.<\/p>\n\n\n\n<p><em>If you have any questions about the housing loan scheme, please leave a comment below and we will address it.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: Zameen.com \u2013 Pakistan\u2019s top real estate portal \u2013 recently held a session with Habib Bank Limited to enable its employees to get their queries and concerns about Prime Minister Imran Khan\u2019s flagship \u2018Mera Pakistan Mera Ghar\u2019 housing loan scheme in Pakistan. The session was attended by a staggering amount of people working in offices of both Zameen.com and its sister concern OLX Pakistan. Read: PM urges banks to simplify loans issuance process for applicants of low-cost housing Keeping in view the interest of our readers, the following is a list of the details shared in the forum for a better grasp on how to avail this subsidised home loan scheme: What is the Mera Pakistan Mera Ghar initiative? Mera Pakistan Mera Ghar is a Shariah-compliant housing finance model that offers convenient and affordable options to enable interested buyers to buy\/build their dream house. What financing types are available under this initiative? The following two financing types are available for this initiative: Home purchase: to enable the buyers to get a constructed property Plot + construction: to enable the buyers to buy a plot and construct the house themselves Construction: to enable the buyers to construct a house on a&hellip;<\/p>\n","protected":false},"author":75,"featured_media":76749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15017],"tags":[41667,46183,4629,46190],"persona":[],"class_list":{"0":"post-76733","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-notices-announcements","9":"tag-home-loan-for-low-cost-housing-units","10":"tag-mera-pakistan-mera-ghar-faqs","11":"tag-mortgage-financing","12":"tag-naya-pakistan-house-loan","13":"cat-15016-id","14":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mera Pakistan Mera Ghar: FAQs on procuring home loans - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: Zameen.com \u2013 Pakistan\u2019s top real estate portal \u2013 recently held a session with Habib Bank Limited to enable its employees to get their queries and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/mera-pakistan-mera-ghar-faqs-on-procuring-home-loans-for-low-cost-nphp-houses.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mera Pakistan Mera Ghar: FAQs on procuring home loans - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: Zameen.com \u2013 Pakistan\u2019s top real estate portal \u2013 recently held a session with Habib Bank Limited to enable its employees to get their queries and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/mera-pakistan-mera-ghar-faqs-on-procuring-home-loans-for-low-cost-nphp-houses.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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