At a time when real estate prices are rising rapidly, buying a home has become a real challenge and a big burden for most Lebanese citizens.
Choosing any house is easy. Finding the dream home and being able to afford it is another matter. What happens when you do find the home of your dreams, but cannot finance its payments? Most banks offering housing loan programs require a high salary in order to grant the loan. In this respect, only a minority of the population is entitled to a loan.
Today Lebanese Canadian Bank SAL has teamed up with the Public Corporation for Housing (PCH) to grant loans to low and middle wage earners.
Interest Rate: 6.62% interest rate fixed for the first two years
Real Estate Fees: 1% flat commission fee charged once only on the initial amount
Life Insurance: Arranged by Lebanese Canadian Bank SAL
Maximum Loan Amount: Up to 120 million LBP
Applicant Age: Between 21 and 64 years old
Applicant Nationality: Lebanese citizenship for 10 years or more.
Maximum Monthly Income: Should not exceed 3 million LBP