Are you aspiring for more independence from your parents? Are you planning to move to a new house because you need more space? Are you planning to get married and buy a new property? Now is your chance!
With Banque Libano-Française Housing Loan in American Dollars, the key to your new home is at reach. You can benefit from a competitive interest rate for the whole loan period...
- financing the acquisition of a primary residence,
- required down payment:
- for residents: minimum 25% of the apartment value,
- for expatriates: minimum 30% of the apartment value,
- maximum loan amount: USD 500,000,
- regressive interest rates applicable: variable and based on the Cost of Funds Index*,
- optional grace period up to 24 months:
- 6 months on the principal loan amount and interest,
- 18 months on the principal loan amount,
- loan period: minimum 7 years | maximum 20 years (including the grace period),
- expert fees: USD 150,
- no file fees or commission applicable,
- guarantees: first degree mortgage on the property subject of the loan, life and fire insurances.
*The average cost of funds of the Bank
Loan additional advantages
- free pre-approved revolving credit card,
- pre-approved consumer loan repayable during the Housing Loan grace period,
- no mortgage fees or mortgage release fees when loan amounts do not exceed USD 120,000,
- pre-approved Solar Heater Loan.
For a 36-year-old individual financing the acquisition of a USD 190,000 primary 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 1,156 at an Annual Percentage Rate (APR) of 7.38% (including interest, life and fire insurance premiums, 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.