FRANSABANK Housing Loan

What is it?

• FRANSABANK Housing Loan is a loan in USD or in LBP tailored exclusively for customers who want to buy a new house, renovate or expand their home construction
•  The loan offers a set of distinctive benefits including exemption from mortgage and stamp fees for apartments costing less than or equal to USD 120,000 and repayment period equal to or greater than 7 years

What can you borrow?

• Unlimited loan amount
• High financing amount up to 75% of the home value
• Low monthly payments, not exceeding 33% of the monthly income
• Up to six months grace period
• Flexible repayment period up 30 years
• Highly competitive interest rate

1. 4% for the first year
2. Libor (1 year) + 4% (min. 7%) for the remaining years

Who can you get it?

• Applicant should be a Lebanese citizen for more than 10 years
• Age of applicant should not exceed 64 years old by the end of the loan period
• Applicant should be an employee with a minimum of 2 years in the current company or professional with a steady income with a minimum of 2 years in the same occupation
• Applicant should have a minimum salary of USD 1,000
• Applicant should domicile his salary
• Guarantees:     
  • First class degree mortgage insurance on the pertinent house
  • Life insurance for the applicant
  • Fire insurance