| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Banque Libano Française - Standard Housing Loan
|
Minimum Salary: USD 800 | Salary Transfer: No | Early Settlement Fees: No | Maximum Term: 20 Years | Flat Rate: 0.0 | Reducing Rate: 6.5 |
Did you find your dream house? Banque Libano-Française will make it your home thanks to its Standard Housing Loan in USD.
Features
- Unlimited house value accepted
- Required down payment: minimum 25% of the apartment value
- Interest rate: Cost of Funds + 3.50%, with a minimum of 6.50% (variable rate)
- Optional grace period: up to 18 months on the principal loan amount or on the gross 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
- 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
Documents Required
- Identity card/certificate of civil status
- Recent family status certificate
- Recent Judicial record
- Salary certificate
- Statement of account (for the past six months)
- Copy of NSSF card
- Copy of deeds (if any)
- Copy of bank statment :Recent proof of residence - certificate from the mayor or electricity bill
** 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.
