House Building Finance Company (HBFC) – Naya Pakistan Naya Ghar

Eligibility Criteria:

  • All Pakistani nationals holding valid CNIC
  • The customer must not own any residential housing unit / apartment and will be first time home owner
  • Facility will be available for only once to an individual.
  • Facility will be for construction and first purchase of newly constructed affordable housing unit.

Financing Limit:

Tier IUp to PKR 2,700,000/-
Tier IIUp to PKR 3,000,000/-
Tier IIIUp to PKR 5,000,000/-

Monthly Income:

MinimumMaximum
For ResidentsMust minimum be meeting specified DBR for requested financingFor non-Residents:Minimum  Rs. 50,000/- per monthFor Tier I and Tier II:Up to Rs. 100,000/- individual or Rs. 140,000/- householdFor Tier III:Up to Rs. 200,000/- individual or Rs. 250,000/- household

Income Clubbing:

  • As per prevalent policy applicable for borrower, co-borrower and guarantor

Financing Tenor:

  • 10/15/20 Years (depending upon choice of the customer)

Loan To Value Ratio (LTV):

  • Up to 85 : 15

Pricing:

Tier I & Tier II Fixed @ 5%  per annum for 1st 05 years Fixed @ 7% per annum for next 05 years Floating rate of 01 Y KIBOR + 2.0 % p.a. (with floor of 7% and ceiling of 12% to be charged after 10 years)
Tier IIIFixed @ 7%  per annum for 1st 05 yearsFixed @ 9% per annum for next 05 yearsFloating rate of 01 Y KIBOR + 2.5 % p.a. (with floor of 8% and ceiling of 13% to be charged after 10 years)

Collateral Specification:

Tier I Housing units / apartments of up to 125 SY (up to 05 Marla) with covered area of up to 850 SF and priced (market value) at maximum of Rs. 3.50 Mn (built under NAPHDA projects).
Tier IIHousing units / apartments of up to 125 SY (05 Marla) with covered area of up to 850 SF and priced (market value) at maximum of Rs. 3.50 Mn.
Tier IIIHousing units of more than 125 SY up to 250 SY (10 Marla) or apartments with covered area from more than 850 SF to 1100 SF and priced (market value) at maximum of Rs. 6.00 Mn.

For more detail visit http://hbfc.com.pk/page/products/naya_pakistan_naya_ghar

Application and Procedures

http://hbfc.com.pk/page/customers/application_procedure_and_requirements

Pre-Application Form

http://hbfc.com.pk/page/customers/pre_applicaton_form

FAQ HBFC

http://hbfc.com.pk/page/customers/faqs

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