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)

Mera Pakistan Mera Ghar (MPMG) / Government Markup Subsidy Scheme (GMSS)Trellis Housing Finance Limited
T0T1T2T3GharHo
Financing Purpose
Purchase of house or flat
Construction Only (existing plot)
Purchase Plot & construction thereupon
Renovation - (structural - e.g new floor, extension, roof)
Renovation - (non-structural: e.g. painting walls, new tiles)
Buy or Build a house to rent-out
Purchase of plot only
Financing Parameters
Minimum Tenor (Yrs)5 Years5 Years
Maximum Tenor (Yrs)20 Years25 years
Minimum Financing Size (PKR)Dependant on the Bank / Microfinance Banks PolicyPKR 500,000
Maximum Housing Unit Price (Naphda only Projects)-PKR 3,500,000---
Maximum Financing Size (PKR)PKR 2,000,000PKR 2,700,000PKR 6,000,000PKR 10,000,000PKR 30,000,000
Rental Rate (per year)5% first 5 years3% first 5 years5% first 5 years7% first 5 yearsCurrently: 12.5%
(KIBOR 1Y +4%). Rate is fixed for 5 years
7% next 5 years5% next 5 years7% next 5 years9% next 5 years
Market Rate to be applicable after 10th year of financing as follows: KIBOR 1Y %+ Banks Spread
Financing RatiosDependant on the Bank / Microfinance Banks Policy
Max: upto 90%
Purchase: upto 85%
Construction: upto 80%
Renovation: upto 80%
Buy to Rent: upto 70%
Early Unit Purchase/Pre-payment PenaltyPartial (Baloon) Payments are dependant on the Bank / Microfinance Banks Policy. Full repayment allowed without any penalty2% premium on early unit purchase prior to completing 1 year of Financing. No premium applicable after completing 1 year.
Property Takaful (Fire & Allied Perils Insurance)Dependant on the Bank / Microfinance Banks PolicyTrellis's share in the Musharaka Property is covered as part of the policy and is provided free of cost to the client.
Life Takaful (Death & Critical Illness Insurance)Dependant on the Bank / Microfinance Banks PolicyIt is mandatory for the primary borrower. Preimum to be added to the Profit Rate.
Discount Incentives
tick 0.25% Discount for Female only or Female & Male both own title to property & become co-applicants.
Mode of FinancingIslamic or Conventional options availableShariah Compliant
Product Eligibility Criteria
Size of housing unit restrictionsHouse: upto 125 sq yd (5 Marla)House: upto 125 sq yd (5 Marla)House: upto 125 sq yd (5 Marla)House: upto 250 sq yd (10 Marla)No Restrictions
Flat: upto 1,250 sq ftFlat: upto 850 sq ftFlat: upto 1,250 sq ftFlat: upto 2,000 sq ftNo Restrictions
Age of Housing UnitNewly constructed housing units during last one year from the date of application. However, this requirement will not be applicable till March 31, 2023No Restrictions
Minimum Net Income (Individual) PKRDependant on the Bank / Microfinance Banks PolicyPKR 20,000 per month
Maximum Net Income (Household) PKRNo LimitsNo Limits
Maximum number of borrowers on an application (for income clubbing)42
Maximum Debt Burden Ratio (Including Trellis)50%50%
Minimum Age at the time of Mortgage ApplicationDependant on the Bank / Microfinance Banks PolicyPrimary Borrower minimum age: 23
Co-Borrower minimum age 20
Maximum Age at the time of Mortgage ApplicationDependant on the Bank / Microfinance Banks Policy Generally banks allow for maximum age at the maturity of financing to be 65Max Age for Primary Borrower at the maturity of financing is 65. No maximum age restriction for co-borrower
Nationality/ResidencyAll citizens residing in Pakistan and holding a valid CNIC or NICOP (not expired)
Employment TypeSalaried: Someone who receives a fixed Income on a monthly basis (Can be full-time, part time or working as a contractual worker)
Other: Someone who works for themselves and earns money on a per day/per contract/per season basis.
Business Owner or Self-Employed: Someone who runs their own business
Employment SectorsNo RestrictionAll except for Petroleum and other IFC excluded professions
Other RestrictionsPrimary Borrower first time home buyerNo Restrictions
Only one GMSS loan allowed per family under this facility
Direct Permanent Banking Employees cannot avail this facility
No onward sale of house for the next 5 years