When the time comes to buy a home, Byblos Bank has the experience and the resources to make life easier for you. As one of the largest providers of housing loans in Lebanon, we've helped thousands of people to make their dreams come true – and a Housing Loan in LBP helps you support the national currency while benefiting from a preferential interest rate made available by a Central Bank incentive.
Purpose
- To finance the purchase of a principal home. Renovations are not covered
Eligibility
- Lebanese citizen, or Lebanese expatriate with official residence in foreign country
- Maximum age not to exceed 64 by the end of the loan period
- A minimum of two years of working experience in the same field
- Minimum net monthly income of USD 750 for Lebanese and residents; USD 2,000 for expatriates
- Monthly payments should not exceed one-third of salary/income
Amount
Currency
Interest Rate
- Regressive rate based on 4.48% for first 12 months (special offer from Byblos Bank). For the remaining period 40% of one-year Lebanese Government Treasury Bills plus 3%; reviewed annually(4.92% as of February, 3rd 2012)
Repayment Period
- Minimum seven years, maximum up to 15 years
Distinctive Features
- A detailed checklist that helps protect you against common pitfalls such as buying non-registered real estate and paying an inflated purchase price
- Application can be made singly or as a couple
- Decisions on applications communicated with minimum delay
- Financing level up to:
- 70% for finished homes (can reach 80% in prime locations)
- 50% of project cost (land plus construction) for construction of a home
- 100% of the renovation cost (not exceeding 50% of the home's value after renovation)
- Pre-approved credit card – with USD 5,000 limit – for the first year with every approved Housing Loan
- Free file fees
Conditions*
- Purchased home must serve as main residence
- First mortgage on the home
- Life insurance for the applicant covering the whole grace period
- Fire insurance on the home covering the whole grace period
- Client cannot sell the home financed by the loan before until at least seven years after loan disbursement
* The Bank reserves itself the right to request any additional guarantees when necessary.