Features and Benefits
It is pertinent to mention here any additional documents may be required by the bank.
Some/all features and benefits may not be applicable on every application, as each case may differ, allowing banks to offer more or less from the aforementioned list.
About Naya Pakistan Housing Scheme
We all wish to move into the house of our dreams one day, but saving money is never easy. If you want to materialise on this the government has a solution — Naya Pakistan Housing Scheme (NPHP). There are two ways you can buy property — with upfront payment or on a mortgage facility. This project is a ray of hope as the housing solutions it offers are for those citizens who hail from a low-income segment of the society. Additionally, a mortgage solution allows you much greater flexibility in terms of how you manage your finances. For those seeking this option, you’ll be needing to know how home loans in Pakistan work, and what you need to do to get one.
Following the registration process for Naya Pakistan Housing Scheme, you have to pay a 20% down payment and the remaining amount in monthly instalments to the bank. This makes the whole process easier and more practical. A person belonging to the middle class and even lower-middle-class can enjoy the perks of having their own home, all thanks to home financing. For this, Equated Monthly Installments (EMIs) for home loans is one of the best methods, in which the borrowers pay a fixed amount each month.
Furthermore, Naya Pakistan Housing & Development Authority (NAPHDA) will inform you immediately when your name is balloted, so as to have you pay the down payment and sign the bank’s required loan documents for paying the monthly installments of the mortgage amount.
Frequently Asked Questions (FAQs)
How to register for Naya Housing Scheme in Pakistan?
Who is eligible for the Naya Pakistan Housing Scheme?
What are the types of houses under this housing scheme?
What is the maximum loan tenure for this scheme?