Are you ready to buy a house? It can be an exciting and emotional process. There are so many things to consider. Like, do you want to construct the house to meet your requirements, or would you be happier with an already built home? The former is a long, tiring process but it’s usually worth the effort in the end, while the latter provides you with several options to choose from. You might even have your eye on a gorgeous apartment that just landed on the market. The options are endless.
However, one feature that is consistent in all these situations is your financial condition. Do you have enough capital to purchase a home, or would you require a loan for the purpose? Now, the thing you need to know about purchasing a home is that it may prove to be an investment which is likely to impact your entire future; so you must be smart about it. Almost no one, in this time and age, has enough cash lying around to outright buy a home — this is where house loans come in. In Pakistan, people who are seeking to own a home but find themselves with limited means should reach out to the House Building Finance Company Limited (HBFC) to avail its easy and reliable home financing solutions.
HBFC HOME LOAN — TURN YOUR DREAM INTO A REALITY
The House Building Finance Company Limited (HBFC) offers home finance solutions for low to middle income groups including salaried individuals. The company offers three house loan products to meet the varied needs and resources of its clientele. It is a simple and hassle-free process. HBFC offers financing facilities under these following options:
1. Purchase of House/Flat
2. Construction of House
3. Balance Transfer Facility
The inclusive house loan schemes cater to salaried individuals, self-employed professionals, self-employed business owners, rental income generators, farm owners, livestock owners, and Non-Resident Pakistanis. HBFC facilitates people with flexible payment solutions to further assist them as they go about buying or constructing their homes. You can find more details about the various loan arrangements here.
HOW CAN YOU APPLY FOR HBFC LOAN?
If you are new to the concept of home loans, let us walk you through the whole process. Applying for a home loan is a relatively simple enough process. All you need to do is follow the steps outlined below:
- Step 1: Fill out the pre-application form. It is the first step in loan purchasing. You need to fill in your personal credentials. If your monthly income is insufficient to meet the requirements, you can also add a co-applicant’s or a guarantor’s income to the application.
- Step 2: Fill out the enquiry form to avail the HBFC financing facility. After the submission of this form, the professionals at the company will contact you within two working days.
- Step 3: Your inquiry will then be forwarded for an initial screening.
- Step 4: Upon qualification in the preliminary screening process, the applicants will be required to submit a duly filled and signed application, alongside the required documents, processing fees and external agency’s costs.
- Step 5: This step will ensure credit assessments and due diligence.
- Step 6: Once this assessment yields a favourable response, the loan/ limit allocation will be approved by the concerned officials.
- Step 7: Next comes the execution of financing and security, which constitutes as legal documentation formalities.
- Step 8: If all of the above steps are executed smoothly, the loan amount will be disbursed in line with the terms and conditions specified in the agreement.
If you need more information or have some concerns, this most Frequently Asked Questions (FAQs) section might help you out.
On a parting note…
Owning a house is a major milestone in people’s life. If you feel that your financial situation is stable, that you can cover your instalments, and that you have found a place which will increase in market value over time, then this might be the best time for you to pursue the dream of owning or building your own home. HBFC will back your vision and provide you with an easy and secure home loan in Pakistan.
For more information on HBFC Home Loan products, visit: hbfc.com.pk or call 0800-42325 (from Monday to Friday). Your dream of owning your own house can turn into a reality, and it all starts with a simple click.
