When it comes to getting a house loan in Pakistan, you have two options at your disposal: you can either go with private lenders or government entities.
The former offers house loan in Pakistan in exchange for high interest rates. At the same time, the latter makes its lending decisions based on several factors, one of which is the borrower’s credit score and repayment history.
If you decide to go with the latter option, however, there are some things you need to know and do before you can secure financing. Keep reading to learn how to get a house loan in Pakistan!
Recommended Reading: Which Bank Is Best For House Loan In Pakistan [Sharia Compliant]
Top 10 Banks To Get A House Loan In Pakistan Online | Home Loan In Pakistan
Table of Contents
House Loan In Pakistan
Here are the Top 10 Banks that give house loans in Pakistan:
- NBP: NBP Mera Pakistan Mera Ghar
- Bank Alfalah: Alfalah Ghar Asaan
- HBL: HBL Islamic Home Finance
- MCB: Mcb House Loan In Pakistan
- UBank: U Bank House Loan In Pakistan
- Mobilink Bank: Mobilink House Loan
- Allied Bank: Allied Home Finance
- Askari Bank: Mera Pakistan, Mera Ghar Scheme
- Habib Metro Bank: Avail Home Finance Loan in Pakistan
- Samba Bank: Samba house loan in Pakistan
NBP Mera Pakistan Mera Ghar
The National Bank of Pakistan (NBP) has introduced the “Mera Pakistan Mera Ghar” house loan in Pakistan. This program is for all citizens who have a CNIC, and it provides a special subsidized house loan facility. Each individual can benefit from this scheme only once.
| Feature | Details |
|---|---|
| Scheme Name: | National Bank of Pakistan NBP Mera Pakistan Mera Ghar Low-Cost house loan in Pakistan |
| Eligibility Criteria: | Pakistani CNIC Holder |
| Age: 25-55 Years | |
| First-time homeowner | |
| Can avail of the scheme only once | |
| Key Features: | Purchase of constructed residential property (Apartment/Flat/House), plot purchase + construction or construction/expansion of self-owned residential property (as per SBP rules & regulations) |
| Financing period: 5-20 years | |
| Up to 4 co-applicants are allowed for income clubbing from multiple sources | |
| No early payment charges | |
| Tier-1 (NAPHDA Projects): | Size of Unit: House up to 125 sq. yards (5 Marla), max. covered area: 850 sq. feet |
| Tier-2 (Non-NAPHDA): | Size of Unit: House up to 125 sq. yards (5 Marla) |
| Size of Unit: Flat/apartment, max. covered area: 1,250 sq. feet | |
| Tier-3 (Non-NAPHDA): | Size of Unit: House up to 250 sq. yards (10 Marla) |
| Size of Unit: Flat/apartment, max. covered area: 2,000 sq. feet | |
| Size of Unit: Flat/apartment, max. covered area: 860 sq. feet | |
| Maximum Price of Units: | Tier-1: Rs. 3.5 million |
| Tier-2 & Tier-3: No limit | |
| Market value at the time of approval of financing | |
| Maximum Financing: | Tier-1: Up to Rs. 2.7 million |
| Tier-2: Up to Rs. 6.0 million | |
| Tier-3: Up to Rs. 10.0 million | |
| Pricing Mechanism (Markup Rate): | First 5 Years Fixed Rate: Tier-1: 3%, Tier-2: 5%, Tier-3: 7% |
| Exceeding 10 Years: Market rate applies | |
| Contact Information: | Call: 021 111 627 627 |
| Visit: www.nbp.com.pk or the NBP App |
Alfalah Bank Ghar Asaan program
Bank Alfalah’s “Alfalah Ghar Asaan” program offers house loan in Pakistan to make home ownership easier. To apply, you must be a Pakistani citizen, regardless of your current residence. The financing tenure is flexible, ranging from a minimum of 3 years to a maximum of 25 years.
| Feature | Details |
|---|---|
| Scheme Name: | Alfalah Ghar Asaan – The key to your dream home |
| Description: | Quick and convenient solutions to buy a house/apartment or acquire land for house construction |
| Product Variants: | Home Buy: Purchase of an already constructed housing unit/apartment |
| Build a Home: Purchase of residential plot with plan for house construction | |
| Eligibility Criteria: | Pakistani citizens with valid CNIC/NICOP/SNIC |
| First-time homeowner, one unit per household | |
| Can avail of the facility only once | |
| For construction and purchase of constructed affordable housing units | |
| Size of Housing Unit: | Category 1: House up to 125 sq. yards, covered area up to 850 sq. feet |
| Category 2: House up to 125 sq. yards, flat/apartment with covered area up to 1,250 sq. feet | |
| Category 3: House up to 250 sq. yards, flat/apartment with covered area up to 2,000 sq. feet | |
| Age of Housing Unit: | Newly constructed housing units |
| Financing Period: | Minimum 5 years, maximum 20 years |
| Subsidized Mark-up/Profit Rate: | Year 1 to Year 5: Fixed Rate |
| Category 1: 3% | |
| Category 2: 5% | |
| Category 3: 7% | |
| Exceeding 10 Years: Market rate applies | |
| Qualification Criteria: | Age: Minimum 25 years, maximum 70 years at loan maturity |
| Net Monthly Income (Min): Salaried: PKR 25,000, Non-Salaried: PKR 50,000 | |
| Employment/Business Tenor: Minimum 2 years for salaried, 3 years for non-salaried | |
| Security Requirement: | The housing unit will be mortgaged |
| Property must be accessible and free of legal issues | |
| Minimum Documents: | Facility application form |
| CNIC copy of applicant/co-applicant | |
| Proof of income documents | |
| Copies of property documents/details of property | |
| Contact Information: | Call: 111 225 111 |
| Email: home.finance@bankalfalah.com | |
| Website: Bank Alfalah Home Finance |
HBL Mera Pakistan Mera Ghar
HBL Islamic Banking presents “Mera Pakistan, Mera Ghar,” a house loan in Pakistan housing scheme that follows Shariah-compliant guidelines using the Diminishing Musharakah mode of financing. This scheme offers a convenient and affordable way for you to achieve the house of your dreams. There are two options available:
| Feature | Details |
|---|---|
| Scheme Name: | HBL IslamicBanking – Mera Pakistan, Mera Ghar |
| Description: | Shariah-compliant housing scheme using Diminishing Musharakah financing mode |
| Financing Types: | Buy a Home: Purchase a constructed property |
| Buy and Build a Home: Buy land and construct a house | |
| Product Features & Benefits: | |
| Tier 1 (NAPHDA Projects): | Size of Unit: Up to 125 sq. yards (5 Marla), covered area up to 850 sq. feet |
| Maximum Price of Unit: PKR 3.5 Million | |
| Maximum Financing: PKR 2.7 Million | |
| Customer Contribution: 10% of property value | |
| Tier 2: | Size of Unit: Up to 125 sq. yards (5 Marla), covered area up to 850 sq. feet |
| Maximum Price of Unit: PKR 3.5 Million | |
| Maximum Financing: PKR 3.0 Million | |
| Customer Contribution: 10% of property value | |
| Tier 3: | Size of Unit: 125-250 sq. yards (10 Marla), covered area 850-1,100 sq. feet |
| Maximum Price of Unit: PKR 6.0 Million | |
| Maximum Financing: PKR 5.0 Million | |
| Customer Contribution: 15% of property value | |
| Subsidized Rate: | First 5 Years: Tier 1: 5%, Tier 2: 5%, Tier 3: 7% |
| Next 5 Years: Tier 1: 7%, Tier 2: 7%, Tier 3: 9% | |
| Exceeding 10 Years: 1 year Kibor + 2.5% (Tier 1), 1 year Kibor + 4% (Tier 2 & 3) | |
| Collateral Security: | Financed housing unit mortgaged in favor of HBL IslamicBanking as per SBP regulations |
| Eligibility Criteria: | Pakistani citizen with valid CNIC |
| Should not own a house | |
| Can avail of the offer only once | |
| Key Qualification Criteria: | |
| Allowed Financing Cities: | All cities in Pakistan with an HBL Islamic banking branch |
| Age – Applicant / Co-Applicant: | Minimum: 25 years, Maximum: 60 years at loan maturity |
| Monthly Income: | Individual: PKR 25,000 to 100,000 per month (Net Disposable Income) |
| Household: PKR 25,000 to 140,000 per month (Net Disposable Income) | |
| Work Experience: | Minimum 5 years for employment/business |
| Income Clubbing: | 100% club, up to 4 co-applicants allowed |
| Contact Information: | Call: 111 225 111 |
| Email: home.finance@bankalfalah.com | |
| Website: Bank Alfalah Home Finance |
Comparison of Home Loan Between Pakistan’s Top 3 Banks
| Feature | Bank Alfalah – Alfalah Ghar Asaan | HBL IslamicBanking – Mera Pakistan, Mera Ghar | NBP – My Pakistan, My Home |
|---|---|---|---|
| Financing Types: | Home Buy: Purchase of constructed housing unit/apartment | Buy a Home: Purchase of constructed property | Purchase of constructed residential property |
| Build a Home: Purchase a plot and construct a house | Buy and Build a Home: Purchase land and construct a house | Plot purchase + construction, or construction on an owned plot | |
| Eligibility Criteria: | Pakistani citizens with valid CNIC/NICOP/SNIC | Pakistani citizen with valid CNIC | Pakistani CNIC holder |
| First-time homeowner, one unit per household | Should not own a house | Age 25-55 years | |
| Can avail of the offer only once | First-time homeowner | ||
| Size of Housing Unit: | Category 1: House up to 125 sq. yards, covered area up to 850 sq. feet | Tier 1: Housing units/apartments up to 125 sq. yards (5 Marla), covered area up to 850 sq. feet | Tier 1: House up to 125 sq. yards (5 Marla), covered area up to 850 sq. feet |
| Category 2: House up to 125 sq. yards, flat/apartment up to 1,250 sq. feet | Tier 2: Housing units/apartments up to 125 sq. yards (5 Marla), covered area up to 850 sq. feet | Tier 2: House up to 125 sq. yards (5 Marla), flat/apartment up to 1,250 sq. feet | |
| Category 3: House up to 250 sq. yards, flat/apartment up to 2,000 sq. feet | Tier 3: Housing units from 125-250 sq. yards (10 Marla), covered area from 850-1,100 sq. feet | Tier 3: House up to 250 sq. yards (10 Marla), flat/apartment up to 2,000 sq. feet | |
| Maximum Price of Unit: | PKR 3.5 Million | Tier 1 & 2: PKR 3.5 Million | Tier 1: PKR 3.5 Million |
| Category 3: No limit | Tier 3: PKR 6.0 Million | Tier 2: No limit | |
| Tier 3: No limit | |||
| Maximum Financing: | Category 1 & 2: PKR 6.0 Million | Tier 1: PKR 2.7 Million | Tier 1: PKR 2.7 Million |
| Category 3: PKR 27.0 Million | Tier 2: PKR 3.0 Million | Tier 2: PKR 3.0 Million | |
| Tier 3: PKR 5.0 Million | Tier 3: PKR 5.0 Million | ||
| Customer Contribution: | Category 1 & 2: 10% of property value | Tier 1 & 2: 10% of property value | Tier 1 & 2: 10% of property value |
| Category 3: 15% of property value | Tier 3: 15% of property value | Tier 3: 15% of property value | |
| Subsidized Rate (First 5 Years): | Category 1: 3%, Category 2: 5%, Category 3: 7% | Tier 1: 5%, Tier 2: 5%, Tier 3: 7% | Tier 1: 3%, Tier 2: 5%, Tier 3: 7% |
| Subsidized Rate (Next 5 Years): | Category 1: 5%, Category 2: 7%, Category 3: 9% | Tier 1: 7%, Tier 2: 7%, Tier 3: 9% | Tier 1: 5%, Tier 2: 7%, Tier 3: 9% |
| Rate (Exceeding 10 Years): | Market rate | Tier 1: 1 year Kibor + 2.5%, Tier 2 & 3: 1 year Kibor + 4% | Tier 1: Market rate |
| Collateral Security: | Housing unit mortgaged in favor of Bank Alfalah | Financed housing unit mortgaged in favor of HBL Islamic banking | Financed housing unit mortgaged in favor of NBP |
| Income Requirements: | Salaried: PKR 25,000/month, Non-Salaried: PKR 50,000/month | Individual: PKR 25,000-100,000/month (Net Disposable Income), Household: PKR 25,000-140,000/month | Individual: PKR 25,000-100,000/month (Net Disposable Income), Household: PKR 25,000-140,000/month |
| Contact Information: | Call: 111 225 111, Email: home.finance@bankalfalah.com, Website: bankalfalah.com | Call: 111 225 111, Email: home.finance@hbl.com, Website: hbl.com | Call: 021 111 627 627, Website: nbp.com.pk |
House Loan In Pakistan FAQs
Who can apply for the Mera Pakistan Mera Ghar house loan in Pakistan?
All Pakistani Nationals have to apply for Mera Pakistan Mera Ghar house loan in Pakistan CNIC and are Pakistani residents, at the age of 18.
Which Pakistani bank gives house loan in Pakistan?
Meezan Bank of Pakistan gives house loan in Pakistan.
Interest-free loan in Pakistan?
Pakistan Poverty Alleviation Fund (PPAF) is a government institution that gives interest-free house loan in Pakistan nationals.
Recommended Reading: Which Bank Is Best For House Loan In Pakistan [Sharia Compliant]
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