|
 HOUSING
LOAN
PLAN
You
have
reached
a
decision
to
buy
a
new
house.
In
order
to
assist
you
to
fulfill
this
big
dream,
we
have
created
a
new
housing
loan,
especially
tailored
to
your
needs.
This
is
how
you
can
get
the
keys
to
the
door...
Bank
of
Beirut
s.a.l.
provides
a
first
year
grace
period
on
principal
and
interest,
allowing
you
to
meet
unforeseen
expenses
etc...
Who
is
eligible?
Company
employees
or
professionals
with
a
regular
income
and
a
minimum
of
2
years
with
the
same
employer,
or
3
years
in
the
same
occupation.
How
much
money
can
I
borrow?
Our
housing
loan
allows
you
to
borrow
from
USD
25,000
up
to
USD
100,000
How
long
is
the
duration
of
the
loan?
A
maximum
period
of
12
years,
with
a
first
year
grace
period.
What
are
the
Terms
of
the
Loan?
Property
Conditions:
a)
First
degree
mortgage
over
property
in
favour
of
the
Bank.
b)
Property
must
be
in
good
condition
and
conforms
with
the
local
zoning
and
construction
codes.
Repayment
Conditions:
a)
Employed
applicants:
monthly
installments
should
not
exceed
one
third
of
monthly
income.
b)
Self-employed
applicants:
monthly
installments
should
not
exceed
one
fourth
of
average
monthly
income.
Insurance:
Assignment
to
the
Bank
of
a
Life
and
Disability
Insurance
Policy
and
a
Fire
Insurance
Policy
for
the
entire
duration
of
the
loan.
Documentation
Required:
a)
Employed
applicants:
a
letter
from
the
employer
confirming
annual
income,
period
of
employment
and
position,
including
confirmation
from
the
employer
for
the
irrevocable
salary
transfer
to
our
Bank.
b)
Self-employed
applicants:
financial
statement
covering
the
last
2
years
of
business
activity.
c)
Confirmation
of
personal
assets.
d)
Identity
card.
e)
Clean
title
deed.
The
Bank
reserves
its
right
to
request
additional
security
or
to
decline
any
request
for
a
Housing
Loan.
Procedure
for
Housing
Loans
From
Bank
Of
Beirut
[All
Arab
Countries]
-
[All
European,
USA
&
Australian
Countries] |
