میرا گھر میرا آشیانہ
Product Features & Benefits
| Tiers | Maximum Financing | Minimum Contribution from customer | Rental Rate |
|---|---|---|---|
| Tier 1 | 2 million | 10% of property value | 5% for first 10 years |
| Tier 2 | 2 M up to 3.5 M | 10% of property value | 8% for first 10 years |
| Financing Tenure | Maximum 20-year financing tenure. | ||
| Size of Housing Unit | House of up to 5 Marla or flat/apartment of up to 1360 sq ft. | ||
| Maximum Price of Housing Unit | No capping. | ||
بنیادی اہلیت کے معیار
تمام رہائشی پاکستانی شہری جن کے پاس قومی شناختی کارڈہو۔(CNIC)
پہلی بار گھر کا مالک بننے والا شخص۔
بینک کی کریڈٹ پالیسی اور ہاؤسنگ فنانس کے احتیاطی ضوابط کے مطابق، فنانس شدہ رہائشی یونٹ بینک کے حق میں گروی رکھا جائے گا۔
Processing Charges
| Type of Charges | Salaried | Businessmen |
|---|---|---|
| Processing Charges | NIL | NIL |
| Legal Report Charges | At Actual | At Actual |
| Property Valuation Charges | At Actual | At Actual |
| Income Estimation Charges | N/A | At Actual |
Key Qualification Criteria
| Parameters | Details |
| Allowable Financing Cities | All cities of Pakistan |
| Age of Applicant / Co-applicant | 20 years and maximum 70 years |
| Monthly Income | PKR 40,000 per month |
| Employment / Business Tenor | Salaried Individuals Permanent employment |
Mera Ghar Mera Aashiana: A complete guide for applicants
The Government of Pakistan, through the State Bank of Pakistan and partner banks, launched “Mera Ghar — Mera Aashiana” to expand access to affordable housing finance for low- and middle-income families. The program provides subsidized markup (profit) rates for eligible first-time homebuyers and shares risk with participating banks to encourage lending.
- Scheme structure — tiers, financing amounts & pricing
Tier 1
Maximum financing: Up to PKR 2,000,000.
Subsidized markup (fixed) for customers: 5% (applies for the first 10 years under many banks’ pricing). After 10 years pricing typically converts to a floating benchmark (e.g., 1-yr KIBOR + 3%).
Tier 2
Maximum financing: Above PKR 2,000,000 up to PKR 3,500,000.
Subsidized markup (fixed) for customers: 8% (first 10 years in many banks), then floating (e.g., KIBOR+3%).
Loan-to-Value (LTV): Up to 90% financing (i.e., 10% minimum down payment/equity from applicant is common).
Financing tenure: Up to 20 years (subsidy typically provided for the first 10 years; repayment terms can extend to 20 years).
- Size / maximum unit covered
Permitted unit size: Purchase or construction of houses up to 5 marla (typical) or apartments/flats up to ~1,360 sq ft. The scheme targets small residential units suitable for first-time homebuyers.
- Maximum price of housing unit (how to read the tiers)
The scheme caps financing amounts by tier (PKR 2M and PKR 3.5M). Because the bank finances up to ~90% LTV, the maximum property price you can target depends on the LTV and tier:
If you need the full Tier-1 finance (PKR 2M financed at 90% LTV) → total property price ≈ PKR 2,222,222 (2M = 90% of price). Practically, banks quote the financing ceilings (PKR 2M / PKR 3.5M) — check the participating bank brochure for exact price caps.
- Cities / geographic coverage
Nationwide: The scheme is available across Pakistan through participating commercial banks, Islamic banks and some microfinance banks — not limited to specific cities. It covers urban and peri-urban areas where participating banks operate and where eligible projects/plots exist. Applicants should confirm availability with the local branch of any participating bank (most large banks have the product).
- Who is eligible? (qualification criteria)
Common eligibility rules used by participating banks (SBP guidance + bank product pages):
Pakistani citizen holding a valid CNIC.
First-time homeowner: applicant must not already own any housing unit in their name (i.e., only one loan under the scheme per person/family).
Age limits: typical bank limits—for example, many banks allow applicants whose age at loan maturity will be up to 60 years (salaried) or 65 years (self-employed). Check the bank’s detailed policy.
Income requirement: participating banks set minimum net monthly income thresholds (example: ABL shows minimum net disposable income ~PKR 37,000/month as a sample requirement; this varies by bank and product). Salaried and self-employed applicants are usually eligible if they meet income and repayment capacity checks.
Only once: The scheme normally permits one loan per eligible individual under this subsidized product.
Note: Banks may add additional internal credit criteria (credit history, employment length, business documentation for self-employed, etc.). Always confirm with the participating bank branch.
- Accepted uses of finance (scope)
Purchase of constructed residential property (house/flat).
Purchase of plot and construction on it.
Construction on an already-owned plot (subject to bank’s project appraisal).
- Documents required (typical list)
Most banks list similar documentation. Prepare the following when applying:
Completed Loan Application Form (LAF) and product disclosure sheet.
Valid CNIC of applicant (and co-applicant / spouse if required).
Passport-size photographs.
Proof of income:
Salaried: salary slips, employment letter, bank statements (usually last 6 months).
Self-employed: tax returns, business proof, audited financials or business bank statements.
Undertaking/declaration stating first-time homeowner status (signed).
Proof of property title / allotment / sale agreement (sale deed, allotment letter, transfer documents) or plot documents when construction finance.
Fee payments receipts, NOC (if applicable), and any bank-requested legal documents.
KYC/due diligence documents and any additional papers bank requires for valuation and registration.
Banks will instruct you on any property-specific documents required for mortgage registration (e.g., mutation, title verification).
- Processing charges, fees & penalties
Processing fee / prepayment penalty: Many participating banks currently advertise “No processing fee” and “No prepayment penalty” under their MGMA product offerings, but some banks may still charge nominal legal/e-stamping or documentation costs (e-stamping, valuation, registration fees) that are statutory or third-party costs. Always check the precise cost schedule with the bank branch.
Other charges: Expect valuation fee, e-stamp duty, legal documentation charges, registration fees and possibly a small service fee — these are often pass-through costs and can vary by province/municipality. Banks often itemize them in the product disclosure sheet.
- Interest / markup details — how subsidy works
The government (via SBP) subsidizes part of the markup for the borrower for a defined period (commonly the first 10 years). Banks apply a fixed subsidized markup (e.g., 5% for Tier 1, 8% for Tier 2) for that period; thereafter the price becomes variable (example: 1-yr KIBOR + 3%) as per bank product terms. The SBP circular and bank product pages explain the markup subsidy and risk-sharing mechanics.
- Application process — step by step
- Choose participating bank and product (many major banks publish MGMA pages).
- Prepare documents listed above and proof of first-time homeowner status.
- Submit application at bank branch or online lead form (some banks offer online application forms).
- Bank appraisal & KYC: bank carries out income verification, property valuation, legal/title checks.
- Offer & acceptance: bank issues sanction letter and product disclosure; you sign legal documents.
- E-stamp / registration & disbursement: after legal registration and satisfaction of conditions, bank disburses loan. Expect disbursement timelines to vary by bank and completeness of documents.
- Practical tips for applicants