HBFC House Finance Scheme 2023 Apply Online
Realizing the Prime Minister’s vision of New Pakistan in our new home, with the support of State Bank of Pakistan, we are committed to play our part in building a prosperous future for the nation. For more details visit the official website www.hbfc.com.pk.
House Building Finance Company (HBFC) is the country’s largest housing finance institution, providing affordable solutions to the low and middle income groups of the population. HBFC was established in 1952 and was corporatized in 2007 as an unlisted public limited company. The company has its deep and national reach of 51 branches with head office in Karachi.
Eligibility Criteria:
All Pakistani citizens with valid CNIC
Customer should not own any residential housing unit/apartment and be a first time home owner.
This facility will be available to an individual only once. This facility will be for construction and the first purchase of a newly constructed affordable housing unit.
Financing Limit:
Tier I up to PKR 2,700,000/-
Tier II up to PKR 3,000,000/-
Tier III up to PKR 5,000,000/-
Monthly Income:
At least as much
For residents
A minimum specified DBR must be met for financing requested.
For non-residents:
Minimum Rs.50,000/- per month
For Tier I and Tier II:
100,000/- Individual or Rs. 140,000/- household
For Tier III:
200,000/- Individual or Rs. 250,000/- household
Income Clubbing:
As per the prevailing policy applicable to borrower, co-borrower, and guarantor.
Financing Tenor:
10/15/20 years (depending on customer’s choice)
Loan to Value Ratio (LTV):
By 85:15
Pricing:
Tier I and Tier II
Fixed @ 5% per annum for 1st 05 years
Fixed @ 7% per annum for next 05 years
Floating rate 01 Y KIBOR + 2.0 % pa
Tier III
Fixed @ 7% per annum for 1st 05 years
Fixed @ 9% per annum for next 05 years
Floating rate 01 Y KIBOR + 2.5 % pa
Collateral Details:
Tier I housing units/apartments of 125 SY (up to 05 marla) with a covered area up to 850 SF and price (market value) up to Rs. 3.50 million (made under NAPHDA projects).
Tier II housing units/apartments up to 125 SY (05 Marla) with covered area up to 850 SF and price (market value) up to Rs. 3.50 million
Tier III housing units of more than 125 SY up to 250 SY (10 Marla) or apartments with covered area exceeding 850 SF to 1100 SF and price (market value) up to Rs. 6.00 million
