Shehbaz Sharif on Wednesday formally launched the “Apna Ghar” housing program, an initiative to help low and middle-income first-time homebuyers.
The initiative enables eligible applicants to obtain housing finance ranging from Rs2.5 million to Rs10 million, repayable over a 20-year period through manageable monthly installments.
Key Features
- Borrowers can obtain loans up to PKR 10 million.
- A fixed markup rate of 5% applies for the first 10 years. For the remaining period, standard market rates apply.
- Loans are available for up to 20 years.
- Applicants are required to contribute 10% equity, with the remaining 90% financed by participating institutions.
Estimated Monthly Installments
- Rs. 16,499 for a Rs. 2.5 million loan.
- Rs. 32,999 for a Rs. 5.0 million loan.
- Rs. 49,499 for a Rs. 7.5 million loan.
- Rs. 65,996 for a Rs. 10 million loan.
Eligibility Criteria
To qualify for the program, applicants must meet the following requirements:
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- Citizenship: Must be a Pakistani citizen holding a valid CNIC.
- Homeownership: Must be a first-time homeowner and not currently own any other housing unit.
- Property Size: Applicable for houses up to 10 Marla or apartments up to 1,500 sq. ft..
- Income: Minimum monthly income requirements vary by participating bank, typically starting around PKR 25,000 to PKR 40,000.
How to Apply
Applications can be submitted through the Official Apna Ghar Portal (Click here)or at designated branches of participating financial institutions, including Meezan Bank, Bank AL Habib, Allied Bank, and MCB Islamic Bank.
