Byblos Bank is proud to take part in this public/private partnership designed to help Lebanese of modest means to acquire a home to serve as their principal residence.
Purpose
- To finance the purchase or construction of a principal residence
Eligibility
- Lebanese citizen, resident in Lebanon for at least 10 years, with net monthly family income not to exceed LBP 6,750,000
- Maximum age not to exceed 67 by the end of the loan period
- A minimum of two years of working experience in the same field
- Minimum net monthly income of LBP 750,000
- Monthly payments should not exceed one-third of salary/income
Amount
Currency
Interest Rate
- Regressive interest rate based on 20% of two-year Lebanese Government Treasury (current loan rate 4.67% as of April 03rd 2012); reviewed annually
Repayment Period
- Up to 30 years: during first half of the loan period, repayment of principal only to Bank; subsequent remaining half of loan period, repayment of interest to Public Housing Corporation
Distinctive Features
- No down-payment is required for finished apartments
- 70% financing for homes in which the buyer is already a tenant
- 70% financing (land plus construction) for construction of a home
- 100% financing of the renovation cost (not exceeding 50% of the home's value after renovation)
- In all cases 10% is deducted from loan amount and deposited in Public Housing Corporation account for the benefit of client
- No registration, mortgage, or stamp fees
- A detailed checklist that helps protect you against common pitfalls such as buying non-registered real estate and paying an inflated purchase price
- Special Byblos bank free file fees & free commission of 1% on loan amount
- Application can be made singly or as a couple
- Decisions on applications communicated with minimum delay
Conditions*
- Total surface area (living section) should not exceed 200 square meters
- 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.