Housing Loan with the Public Housing Establishment

What is it?

• FRANSABANK’s Housing loan in collaboration with the Public Housing Establishment is a loan in LBP tailored especially to customers who want to buy a new house or renovate or expand their home construction.  

What can you borrow?

• Flexible loan amount up to LBP 180,000,000
• High financing amount up to 90% of the resident’s value. Financing could reach 100% for public sector 
• Flexible repayment period up to 15 years
• Interest rate calculated on the basis of 40% of Lebanese Treasury Bills (2 years) + 3.5%. This interest rate is to be revised every 2 years on the remaining balance of the loan  

How will you repay it?

• Low monthly payments up to 33% of the customer’s revenue
• During the first period, the creditor will pay the loan amount to the bank, while the Establishment for Public Housing will pay the interest on the loan
• During the second period, and after settling the loan amount, the creditor will settle the interest to the Establishment for Public Housing already paid by the latter, plus the accumulated interest of the first period

How can you get it?

• The creditor has to be Lebanese for more than 10 years
• Family income should not exceed 10 times the average minimum salary
• The creditor or his spouse should not be an owner of a main house that is located 25 km apart from one of their work locations
• The creditor should pay the 75% of the loan amount plus the interest before reaching the age of 64
• Purchased plot should not exceed 200 sq.m. 
• Guarantees:  

    - House mortgage/Senior Debt
    - Life insurance covering death, total disability and war risks
    - Insurance on the pertinent house against fire accidents (Fire Insurance)