Housing Loan for Expatriates Introduced by BDL 504 | Fransabank

Consumer Banking

Housing Loan for Expatriates Introduced by BDL 504

What do you get?

Currency: USD
Maximum Loan amount: 800,000 US$
Interest rate:
USD: Beirut Financial Instruments USD Index (BFI 5.5% as at 31/03/2020) – 3.5% (currently 2%) - Interest is variable and reviewed annually
Financed amount: up to 75% of the apartment's value (construction or acquisition)
Repayment period: up to 30 years (including grace period)
No file fees

How does it work?

To qualify for Fransabank Housing Loan:

You should be of a Lebanese nationality
You should be maximum 64 years old at loan maturity
Your minimum monthly income should be US$ 1,000
You should be an employee for the same company or profession for a minimum of 2 years

How can you repay your loan?

Through monthly installments that can reach up to 33% of your monthly income

What are the guarantees needed?

First degree mortgage of the apartment

Personal Documents

Copy of identification card or valid passport
Copy of family civil register
Proof of residence such as electricity, telephone, or water bill
Copy of medical insurance card or NSSF card

Employement

Employed

Authenticated salary certificate

Self-Employed

Declaration of income and expenses and of taxes if available
Bank's statement of accounts for the last 2 years
Copy of company's circular
Balance sheet for the last 2 years

Plot-related Documents

Copy of title deed
Original of real estate certificate
Original of real estate certificate for the common parts
Original of promise of sale contract
Copy of rules of co-proprietors
Copy of planning certificate
Copy of housing permit
Copy of allotment plan

Documents related to construction

Copy of work report by the Project Engineer
Copy of building permit certified by the Syndicate of Engineers

Download Product Key Fact Statement