Expatriates Housing Loan
What is it?
- FRANSABANK Expatriates’ Housing Loan is granted to all Lebanese expatriates residing anywhere in the world
- No residential restrictions whereby the creditor can assign by proxy a legal representative for all loans’ official legal operations.
- The applicant is exempted from mortgage and stamp fees for apartment cost less or equal to USD 120,000 and repayment period equal or greater than 7 years
What can you borrow?
- Unlimited loan amount
- Financing amount up to 75% of estimated value of the purchased plot
- Low monthly payment not exceeding 30% of the salary of the employees and 20% of the revenue of the self-employed
- Repayment period up to 30 years
- Highly competitive interest rate
- 4% for the first year
- Libor (1 year) + 4% (min. 7%) for the remaining years
How can you get it?
- The beneficiary of the loan should be a Lebanese citizen
- Minimum salary:
- USD 1,500 for employees
- USD 2,000 for the self-employed
- Age of beneficiary should not exceed 60 years by the end of the loan period
- Guarantees:
- First class insurance on the pertinent house (mortgage)
- Life insurance
- Fire insurance
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