Byblos Bank is eager to build bridges with Lebanese expatriates around the world, and to make it happen we provide customized solutions that answer your needs.
Purpose
- To finance the purchase, construction or renovation of a home in Lebanon
Eligibility
- Lebanese citizen with official residence in a foreign country
- Maximum age not to exceed 64 by the end of the loan period
- Employed or self-employed with a minimum of two years working experience in the same field
- Self-employed must have documented banking relationship
- Minimum net monthly income USD 2,000
- Monthly payments should not exceed one-third of salary/income
Amount
- Minimum USD 25,000; no maximum
Interest Rate
- Regressive interest rate based on Cost of fund plus 2% (current loan rate 5.51 as of April 03rd 2012); reviewed annually
Repayment Period
- Minimum five years; maximum 30 years
Distinctive Features
- Financing level up to 70% for finished homes (can reach 80% in prime locations)
- 60% for homes in which the buyer is already a tenant
- 50% (land plus construction) for construction of a home
- 100% of the renovation cost (not exceeding 50% of the home's value after renovation)
- You can delegate a relative or other proxy to represent you during the mortgage and registration process. This is mandatory for a housing loan for construction of a home
- Possibility of financing apartment under construction with selected promoters/developers
- Pre-approved credit card – with USD 5,000 limit – for the first year with every approved Housing Loan
Conditions*
- First mortgage on the home
- Life insurance for the applicant
- Fire insurance on the home
* The Bank reserves itself the right to request any additional guarantees when necessary.