GharHo

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GharHo Product Offering

GharHo is committed to provide Islamic home financing accessibility across Pakistan and make their dreams of owning a home a reality. Our product caters to all 3 different home financing segments i.e Upfront purchase of a house/flat, Renovation of a property already in livable condition and for Plot purchase and construction on it or just construction on your owned property. GharHo is based on Islamic Finance principles of Diminishing Musharakah (joint ownership).

Special Product Features:

  • Shariah Compliant Product.
  • Financing Limit: PKR 500,000 (5 Lakhs) till PKR 30,000,000 (3 Crores).
  • Balloon Payments and Full repayment allowed after completing 1 Year.
  • Ability to add Co-borrower(s).
  • Financing can be used to purchase a property for investment purposes (i.e. You can rent out the property)

Mera Pakistan Mera Ghar

Mera Pakistan Mera Ghar (MPMG) is an initiative by the government of Pakistan to promote low-cost housing in Pakistan by offering subsidized financing through the State Bank of Pakistan’s (SBP) Government Mark-up Subsidy Scheme (G-MSS)
Eligibility Criteria:
To view this scheme on State Bank of Pakistan’s website (Click Here)

Product Tier 0 Tier 1 Tier 2 Tier 3
Financing Purpose
  • Construction Only (existing plot)
  • Plot & Construction
  • Renovation - Extension/Expansion
  • Purchase (constructed within 1 year in 2023)
  • Construction Only (existing plot)
  • Plot & Construction
  • Renovation - Extension/Expansion
  • Purchase (constructed within 1 year)
  • Construction Only (existing plot)
  • Plot & Construction
  • Renovation - Extension/Expansion
  • • Purchase (constructed within 1 year in 2023)
  • Construction Only (existing plot)
  • Plot & Construction
  • Renovation - Extension/Expansion
  • Purchase (constructed within 1 year in 2023)
Age of Property

The mortgage facility is available for purchase of newly constructed housing unit, during the last one year from the date of application. However, this requirement will not be applicable till March 31, 2023 under Tier 2 and Tier 3.

N/A

N/A

N/A

Minimum Tenor (Yrs.)

5 Years

Maximum Tenor (Yrs.)

20 Years

Minimum Financing Size (PKR)

PKR 500,000 (5 Lakhs)

Maximum Financing Size (PKR)

PKR 2,000,000
(20 Lakhs)

PKR 2,700,000
(27 Lakhs)

PKR 6,000,000
(60 Lakhs)

PKR 10,000,000
(1 Crore)

Maximum Price of housing unit (PKR)

-

PKR 3,500,000
(35 Lakhs)

-

-

Size of housing unit
  • House: upto 125 sq yd (5 Marla)
  • Flat/Apartment: upto 1,250 sq ft
  • House: upto 125 sq yd (5 Marla) with max 850 sq ft covered area
  • Flat/Apartment: upto 850 sq ft
  • House: upto 125 sq yd (5 Marla)
  • Flat/Apartment: upto 1,250 sq ft
  • House: upto 250 sq yd (10 Marla)
  • Flat/Apartment: upto 2,000 sq ft
Fixed-Rate schedule (per year)
  • 5% first 5 years
  • 7% next 5 years
  • KIBOR+700 BPS
  • 3% first 5 years
  • 5% next 5 years
  • KIBOR+250 BPS
  • 5% first 5 years
  • 7% next 5 years
  • KIBOR+400 BPS (Spread may vary)
  • 7% first 5 years
  • 9% next 5 years
  • KIBOR+400 BPS (Spread may vary)

For loan tenors exceeding 10 years, market-rate i.e. bank pricing will be applicable for the period exceeding 10 years.

GharHo Contribution

Max 85%
Standard 80% (for construction only)

Max 90% Standard 80% (for construction only)
Max 90% Standard 80% (for construction only)
Max 85% Standard 80% (for construction only)
Minimum Net Income (Household) PKR

PKR 20,000

Maximum Net Income (Household) PKR

No Limit

Maximum number of co-borrowers (for income clubbing)

Total 3 co-borrowers allowed in a single application

Employment Types
  • Salaried
  • Business Owner
  • Other Income
  • Salaried
  • Business Owner
  • Other Income
  • Salaried
  • Business Owner
  • Other Income
  • Salaried
  • Business Owner
  • Other Income
Employment Sectors

All except for Bank Staff

Minimum Age for primary borrower and co-borrower

Minimum age for primary borrower is 23 years and for co-borrower is 20 years at the time of application

NAPHDA projects only?

NO

YES

NO

NO

First time home-owners only

First time home owners only (People who own a plot only are not considered as first time home owners and are eligible for this scheme)

Only 1 loan per family?

YES

YES

YES

YES

Additional Declarations

No onward sale for 5 years