If you dream to build a home of your choice and you are looking for loan, you need not to be worried about the financing. In Pakistan there are many banks which provide home financing at an ease. Therefore if you are willing to have such a financing you need to make a plan and start your process, so that you can have one as soon as possible. Few of the banks which provide home financing in Pakistan are as follows.
1. Dubai Islamic Bank
Dubai Islamic home investment is one of the best options you can ever have to have your dream home. The bank uses Musharaka cum Ijara model to enter into the agreement with the clients and help the client to fulfill his or her dream. This financing is wholly in fully shariah compliant manner. This financing is not only for the newly built home, you can take financing even if you want to have furnishing of your earlier one.
HBL provides funding to those who are willing to purchase a new house or renovate the existing house. There are some conditions in order to get the loan. The minimum age to be able to apply for both permanent as well as self-employed persons is 21 years. The for the house starts from Rs. 300000 up to Rs. 5000000 and the time period to return is 5 years. In order to apply for the loan you just have to fulfill few requirements and there are not hard and fast rules.
3. Meezan Bank
Meezan Bank provides Islamic house investment, which is known as Easy Home. Easy home is a Shiriah Compliant home financing facility. This is one of the most reliable facilities provided by meezan bank. This facility is provided according to Shariah-compliant manner therefore it is preferred by many of the customers.
4. Bank Alfalah
Bank Alfalah is another bank in Pakistan which provides the home investment facility. With Falah musharaka Home Finance you can easily make your dreams true. The main benefits and the features of includes, this loan is based on shariah compliant principles. The tenure is from 3 to 20 years, this is a flexible repayment with no extra charges or early payments. There is not a hard and fast procedure and there is minimal documentations and processing fee. One of the most important things is that there are no hidden charges taken from the customer.
5. Summit Bank
Summit bank has made thing easy by providing the home funding. This opportunity provided by the Summit Bank has fulfilled following needs of customers. It has helped customer to buy a home, to build a home, in order to get your home renovated, to purchase land and to do its contraction, and it has facilitated in home debt consolidation. This has provided loan ranging from 300000 PKR to 5000000 PKR.
6. Fayal Bank
Faysal bank also provides also provides its services, in order to facilitate its customers in making homes. It provides variety of leasing options which could suit your needs, many of different options include, the period for the repayment of loan is consisted of 1 to 20 years, and repayments can be made on monthly basis. It provides weather you are building a home, renovating it or you remodel it.
Like many other commercial banks UBL also provides facilities so that you can get a home of your dream. It provides loan whether you want to purchase a new home, build a home, or you want to renovate it. In order to be eligible for the loan one must of age between 23 to 65 years of age, and has a monthly income of fifty thousand only.
8. Bank Islami
It provides loan for your home on the easiest conditions, which is known as MUSKUN home financing, whether you want to purchase a new home, to build a new home or whether you want to renovate existing one. It has a quick processing, and it provides a total value of 50 million as loan.
The National Bank of Pakistan has its best facility which is named as NBP Saibaan, it provides up to a total amount of 35 million and the total financing period is 3to 20 years, and it provides loan for the home purchase, home construction, home renovation, purchase of land and home construction.
10. Bank Al Habib
Bank Al Habib provides home financing which starts from Rs. 500,000 and up to a maximum value of 20 million, the financing period is 20 years. This amount is paid once and the repayment is required to be made on the basis of the monthly payments.