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Real Estate House Financing in Pakistan

news50There are a lot of people in Pakistan who wish to have their own house irrespective of how big and small. At the mediocre level of class, it is quite or somehow difficult for them to own a house. For this dream they have to build their nest egg but this need a lot of time. With a high raise in the price of the housing scheme one can find solution in the form of house financing to have enough funds. Here are the steps to show how house financing works in Pakistan.



First of all you need to have an overlook on the institutions available that offers house financing schemes. In Pakistan there are plenty of such schemes and one can find them easily. Almost every bank here whether private or government offers this scheme. All you have to do is go through the scheme and select the institution that suits you best.


Second step after selection of the bank is to communicate with the institution about their offer and have all the necessary details that are essential. If the rules and regulations suits you go for the application form set by the institute. There are a number of documents of course that are needed for the application and submission of the form. These documents may be:
· Computerized National Identity Card (CNIC)
· Source of income and actual amount of income
· Existing status of residency
· A personal reference
· Tax payment of FBR
· Any other essential document required in the procedure
The institution often charges a small fee for the further processing of the applications and requires time for the verification of the information provided.


After your application gets considered you have three choices available to you:
· The housing finance company will find a house for you as per your requirements and pay for it.
· You yourself can find a home for you in any area of your own choice and the financing company will pay for the house on your behalf.
· You can find a land for you in any area of your choice and then build house on it according to your wish. The housing finance company then pays for all the expenses incurred in the building of the house.
The selection of any of the above three is completely up to you. After the selection of option inform the financing company.


A team of highly qualifies experts assesses your financial position in detail. This assessment is based upon your source of income, your assets and past credit history if any. The team will evaluate your past payment history against the loan taken. If you thrive to satisfy the team experts then you will be granted loan as per your house requirement.
The transfer of property ownership is given after the full payment to the financing companies or sometime before the full payment. Nevertheless, this whole procedure applies legal ‘Terms & Conditions’ failure of which can result into legal actions against you.

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