| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Banque Libano Française - Renovation Housing Loan
|
Minimum Salary: USD 800 | Salary Transfer: No | Early Settlement Fees: No | Maximum Term: 10 Years | Flat Rate: 0.0 | Reducing Rate: 8.53 |
With the help of the Banque Libano-Française Renovation Housing Loan, specially designed to finance your expenses, you can redesign an old property, redecorate a new villa with new painting and floor covering, replace old tiles, fix the roof, or even change the whole plumbing system.
Features
- Financing the conversion labor and renovation cost of your house, villa or chalet
- Currency: USD
- Loan amount: from USD 10,000 up to 100% of the residence conversion and renovation costs, not exceeding 50% of the current property value (house) with a maximum of USD 400/m²)
- Preferential interest rates: variable and based on the Cost of Funds Index for the whole period of the loan
- Loan period: minimum 2 years | maximum 10 years
- File fees: 1% of the loan amount (maximum USD 750)
- Expert fees: USD 150 for the first evaluation, USD 100 for each additional evaluation (if required)
- No commission applicable
- Guarantees: first or second degree mortgage on the property subject of the loan, life and fire insurances
- No down payment required
- Competitive interest rate
Documents Required
- Identity card
- Recent family status certificate
- Recent proof of residence
- Recent judicial record
- Salary certificate
- Bank statement
- Medical insurance if the loan applicant is not registered in the NSSF
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
