Housing Loan for Expatriates Introduced by BDL 504
Body
What do you get?- Currency: USD
- Maximum Loan amount: 800,000 US$
- Interest rate:
USD: Beirut Financial Instruments USD Index (BFI 5.5% as at 31/03/2020) – 3.5% (currently 2%) - Interest is variable and reviewed annually
- Financed amount: up to 75% of the apartment's value (construction or acquisition)
- Repayment period: up to 30 years (including grace period)
- No file fees
To qualify for Fransabank Housing Loan:
- You should be of a Lebanese nationality
- You should be maximum 64 years old at loan maturity
- Your minimum monthly income should be US$ 1,000
- You should be an employee for the same company or profession for a minimum of 2 years
- Through monthly installments that can reach up to 33% of your monthly income
- First degree mortgage of the apartment
- Life insurance covering applicant up to loan amount
- Fire insurance on the apartment up the appraised value
Required Documents
Personal Documents- Copy of identification card or valid passport
- Copy of family civil register
- Proof of residence such as electricity, telephone, or water bill
- Copy of medical insurance card or NSSF card
Employed- Authenticated salary certificate
Self-Employed- Declaration of income and expenses and of taxes if available
- Bank's statement of accounts for the last 2 years
- Copy of company's circular
- Balance sheet for the last 2 years
Plot-related Documents- Copy of title deed
- Original of real estate certificate
- Original of real estate certificate for the common parts
- Original of promise of sale contract
- Copy of rules of co-proprietors
- Copy of planning certificate
- Copy of housing permit
- Copy of allotment plan
- Copy of work report by the Project Engineer
- Copy of building permit certified by the Syndicate of Engineers
Download Product Key Fact Statement