HBFC is striving to be a socially responsible and commercially sustainable housing finance institution.

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House Building Finance Company Limited offers financing facility with the following options :

 
1. Purchase of House / Flat
2. Construction of House
3. Balance Transfer Facility
 
 

Ghar Pakistan Scheme

(GPS)   

12% Per Annum

Ghar Pakistan Plus Scheme

(GPS Plus)

13% Per Annum

Ghar Sahulat Scheme

(GSS)

1 Year KIBOR + 3.25% / 3.5%

 

Product Features

 

Ghar Pakistan Scheme

(GPS)

Ghar Pakistan Plus Scheme

(GPS Plus)

Ghar Sahulat Scheme

(GSS)

Income Criteria Up to PKR 100,000/- per month
  • Individual's Income: Up to PKR 175,000/- per month (net of taxes and pension contributions)
  • Household Income: Up to PKR 230,000/- per month
  • Guarantor Income Up to PKR 175,000/- per month (net of taxes and pension contributions)
Verifiable net disposable monthly income
Facility Amount Up to PKR 4,500,000/- Up to PKR 8,800,000/-
  • Up to PKR 25,000,000/- to affluent individuals of Karachi, Lahore, Islamabad / Rawalpindi, Faisalabad, Multan, Peshawar and Quetta
  • Up to PKR 10,000,000/- in all other areas
Facility Tenure 3 – 20 years 3 – 20 years 3 – 20 years
Profit Rate 12% per annum 13% per annum
  • Salaried: 1 Year KIBOR * + 3.25%
  • Self-employed Businessmen: 1 Year KIBOR * + 3.50%
  • Self-employed Professionals: 1 Year KIBOR * + 3.50%

* Yearly re-pricing on each anniversary of financing.

Loan To Value (LTV) Ratio / HBFC’s Share Up to 80% of the forced sale value (FSV) of the mortgaged property Up to 85% of the forced sale value (FSV) of the mortgaged property Up to 70% of the market value of the mortgaged property
Balloon Payment Amount should be greater than or equal to 10% of the outstanding principal amount

Amount should be greater than or equal to 10% of the outstanding principal amount

Amount should be greater than or equal to 10% of the outstanding principal amount
Insurance / Takaful

Life Insurance and Property Takaful coverage to the extent of financing amount

* Insurance / Takaful Companies on HBFC's Approved Panel

Life Insurance and Property Takaful coverage to the extent of financing amount

* Insurance / Takaful Companies on HBFC's Approved Panel

Life Insurance and Property Takaful coverage to the extent of financing amount

* Insurance / Takaful Companies on HBFC's Approved Panel

Collateral Specifications
  • House - Maximum plot size up to 300 sq. yds or 10 Marlas
  • Flat - Maximum covered area up to 1400 sq. fts. (as per conveyance deed)

OR

  • Maximum appraised value (market value assessed by PBA approved Valuator) of the property should not exceed PKR 5,000,000/-

Maximum appraised value (market value assessed by PBA approved valuator) of the property should not exceed PKR 11,000,000/-

  • The construction is as per the approved building plan

  • For the front coastal line for e.g. front row of Sea View Township and Darakhshan Villas, DHA / Clifton Karachi, subject to the soundness certificate from approved PBA Valuer

Eligibility Criteria

 
  1. Citizenship:
    • Resident Pakistani
    • Non Resident Pakistani
  2. Facility of Applicant / Co-applicant / Guarantor:
    • Primary (or Single) & Co-applicant allowed
    • Co-applicant must be an immediate family member
    • Guarantor must be a family member having inheritance right in the property to be mortgaged
  3. Age of Applicant / Co-applicant  / Guarantor:
    • Salaried: 18 – 57 years
    • Self-employed Businessmen / Self-Employed Professionals: 18 – 62 years
  4. Income Criteria:
    • Up to PKR 100,000/- per month





  5. Employment / Business / Professional Tenure:
    • Salaried: Minimum 1 year continuous employment
    • Self-employed Businessmen / Professionals: Minimum 2 years in current business / industry
  1. Citizenship:
    • Resident Pakistani
    • Non Resident Pakistani
  2. Facility of Applicant / Co-applicant  / Guarantor:
    • Primary (or Single) & Co-applicant allowed
    • Co-applicant must be an immediate family member
    • Guarantor must be a family member having inheritance right in the property to be mortgaged
  3. Age of Applicant / Co-applicant  / Guarantor:
    • Salaried: 18 – 57 years
    • Self-employed Businessmen / Self-Employed Professionals: 18 – 62 years
  4. Income Criteria:
    • Individual's Income: Up to PKR 175,000/- per month (net of taxes and pension contributions)
    • Household Income: Up to PKR 230,000/- per month
    • Guarantor Income Up to PKR 175,000/- per month (net of taxes and pension contributions)
  5. Employment / Business / Professional Tenure:
    • Salaried: Minimum 1 year continuous employment
    • Self-employed Businessmen / Professionals: Minimum 2 years in current business / industry
  1. Citizenship:
    • Resident Pakistani
    • Non Resident Pakistani
  2. Facility of Applicant / Co-applicant  / Guarantor:
    • Primary (or Single) & Co-applicant allowed
    • Co-applicant must be an immediate family member
    • Guarantor must be a family member having inheritance right in the property to be mortgaged
  3. Age of Applicant / Co-applicant  / Guarantor:
    • Salaried: 18 – 57 years
    • Self-employed Businessmen / Self-Employed Professionals: 18 – 62 years
  4. Income Criteria:
    • Verifiable net disposable monthly income





  5. Employment / Business / Professional Tenure:
    • Salaried: Minimum 1 year continuous employment
    • Self-employed Businessmen / Professionals: Minimum 2 years in current business / industry
 

Schedule of Charges

 
 

Ghar Pakistan Scheme

(GPS)

Ghar Pakistan Plus Scheme

(GPS Plus)

Ghar Sahulat Scheme

(GSS)

Application Processing Fees
  • Financing upto PKR 1,000,000/- : processing fees is PKR 2,000/-
  • Financing above PKR 1,000,000/- : processing fees is PKR 5,000/-
  • Financing upto PKR 1,000,000/- : processing fees is PKR 2,000/-
  • Financing above PKR 1,000,000/- : processing fees is PKR 5,000/-
  • Financing upto PKR 500,000/- : processing fees is PKR 3,000/-
  • Financing b/w PKR 500,000 to PKR 2,500,000/- : processing fees is PKR 8,000/-
  • Financing above PKR 2,500,000/- : processing fees is PKR 12,000/-
Income Estimation Charges
  • Salaried: PKR 2,100/- to PKR 5,500/-
    Employees of Govt., Semi-Govt., Companies listed in Stock Exchange and Non-Resident Pakistani: Nil
  • SEB / SEP: PKR 3,000/- to PKR 5,500/-
  • Salaried: PKR 2,100/- to PKR 5,500/- 
    Employees of Govt., Semi-Govt., Companies listed in Stock Exchange and Non-Resident Pakistani: Nil
  • SEB / SEP: PKR 3,000/- to PKR 5,500/-
  • Salaried: PKR 2,100/- to PKR 5,500/-Employees of Govt., Semi-Govt., Companies listed in Stock Exchange and Non-Resident Pakistani: Nil
  • SEB / SEP: PKR 3,000/- to PKR 5,500/-
Property Valuation Charges
  • Flat: PKR 2,000/-
  • House: PKR 2,500/-
    (Plus PKR 500/- to PKR 700/- in case of construction case before releasing the third tranche)
  • Flat: PKR 2,000/-
  • House: PKR 2,500/-
    (Plus PKR 500/- to PKR 700/- in case of construction case before releasing the third tranche)
  • Flat: PKR 2,000/-
  • House: PKR 2,500/-
    (Plus PKR 500/- to PKR 700/- in case of construction case before releasing the third tranche)
Title Clearance Charges *

At Actual

* To be borne by the Customer

At Actual

* To be borne by the Customer

At Actual

* To be borne by the Customer

Legal Documentation Charges *

At Actual

* To be borne by the Customer

At Actual

* To be borne by the Customer

At Actual

* To be borne by the Customer

Late Payment Charges PKR 1,000/- on each overdue monthly payment PKR 1,000/- on each overdue monthly payment PKR 1,000/- on each overdue monthly payment
Balloon Payment Charges Nil Nil Nil
Early Settlement Charges Nil Nil Nil
Storage Charges

PKR 100/- per month

(if mortgaged property documents are not collected within 90 days from the date of account closing)

PKR 100/- per month

(if mortgaged property documents are not collected within 90 days from the date of account closing)

PKR 100/- per month

(if mortgaged property documents are not collected within 90 days from the date of account closing)

 
 

Loan Application Procedure

The entire loan application procedure is hereby outlined :

  1. Enquiry Form: If you are willing to avail financing facility from HBFC, you will be required to submit an enquiry form. Upon submission of an enquiry form, our team will contact you within 2 working days.
  2. Preliminary Screening: Initial screening will be conducted by HBFC’s team.
  3. Submission of Application Form & Processing Fees: Upon qualification in preliminary screening, you will be required to submit a duly filled & signed application form along with the required documents . You will be further required to submit the Processing Fees & External Agency’s costs to HBFC.
  4. Loan Process: Credit assessments and due diligence will be carried out.
  5. Loan Approval: In case of favourable assessment, loan / limit allocation will only be approved by the concerned authorities.
  6. Execution of Documents: Execution of financing & security / legal documentation formalities.
  7. Disbursement of Loan: The loan amount will be disbursed as per the terms & conditions specified in the agreement.
Last updated on: 04 Dec, 2019