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