Did you find your dream house? Banque Libano-Française will make it your home thanks to its Standard Housing Loan in USD.
- financing the acquisition of a primary or secondary residence,
- unlimited house value accepted,
- required down payment:
- for residents: minimum 25% of the apartment value,
- for expatriates: minimum 30% of the apartment value,
- interest rate: Cost of Funds + 3.50%, with a minimum of 6.50% (variable rate*),
- optional grace period: up to 6 months on the principal loan amount or on the gross loan amount, followed by 18 months on the principal loan amount,
- loan period: minimum 5 years | maximum 20 years (including the grace period),
- file fees: 1% of the loan amount (maximum USD 750),
- expert fees: USD 150,
- no commissions applicable.
*Reviewed annually, as per the average cost of funds of the Bank
Loan additional advantages
- free pre-approved revolving credit card,
- pre-approved consumer loan repayable during the grace period,
- no mortgage fees or mortgage release fees when loan amounts do not exceed USD 120,000.
For a 36-year-old individual financing the acquisition of a USD 190,000 secondary residence with a USD 47,500 (25% of 190,000) down payment, the Loan* is reimbursed over a 15-year period through equal monthly installments of USD 1,273 over the whole loan period, at an Annual Percentage Rate (APR) of 8.88% (including interest, life and fire insurance premiums, file fees, expert and notary fees, as well as registration, mortgage and mortgage release fees), the latter being variable and reviewable.
Conditions apply as at 01/06/2015 and are subject to variation.
* Subject to pre-study and approval of the application
Applicant's eligibility criteria
- nationality: Lebanese,
- age: 21 - 64 (at loan submission),
- occupation: the applicant should be:
- an employee with a steady job and income for more than 18 months,
- a self-employed with a minimum 3-year work experience in the same field.
- minimum required monthly income:
- LBP 1,200,000 or the counter value for employees,
- LBP 2,500,000 or the counter value for self-employed.
- monthly payments: maximum 33% of the monthly income for employees and self-employed.
Every credit facility is an engagement and must be reimbursed. Check your repayment capacities before you apply.
To submit your loan application, learn more about our loan eligibility requirements and requested documents, visit the nearest BLF branch where our customer advisors will be pleased to share with you a customized simulation, including your Annual Percentage Rate - APR based on your profile and selected financing terms.