How Much House Can I Afford – House Affordability Calculator, house finance calculator.#House #finance #calculator


How Much House Can I Afford?

There are two House Affordability Calculators that can be used to estimate the affordable amount for houses based on either household income-to-debt estimates or fixed monthly budgets. They are intended for use by residents in the United States only.

House finance calculator

House Affordability Based on Fixed, Monthly Budgets

This is a separate calculator used to estimate house affordability based on monthly allocations of fixed amounts for housing costs.

Conventional, FHA, and some other mortgage lenders like to use two ratios called the front-end and back-end ratios to determine the home loans that each household can afford. They are basic debt-to-income ratios, albeit slightly different. However, all potential homeowners should take steps toward achieving more desirable ratios in the eyes of lenders if they seek houses out of their affordability range.

Front-End Ratio

Front-end debt ratio is also known as the mortgage-to-income ratio, computed by dividing total monthly housing costs by monthly gross income. For our calculator, only conventional and FHA loans utilize it. The monthly housing costs not only includes interest and principal on the loan, but other costs associated with housing like insurance, property taxes, and HOA/Co-Op Fee.

Back-End Ratio

Back-end debt ratio is the more all-encompassing picture of a household’s ability to serve home loans. It includes everything in the front-end ratio dealing with housing costs, along with any accrued recurring monthly debt like car loans, student loans, and credit cards. This ratio is commonly defined as the well-known debt-to-income ratio, and is used for all the calculations.

Conventional Loans and the 28/36 Rule

In the US, a conventional loan is a mortgage that is not insured by the federal government directly and generally refers to a mortgage loan that follows the guidelines of government-sponsored enterprises (GSE’s) like Fannie Mae or Freddie Mac. Conventional loans may be either conforming or non-conforming. Conforming loans are bought by housing agencies such as Freddie Mac and Fannie Mae and follow their terms and conditions. Non-conforming loans are any loans not bought by these housing agencies and don’t follow their respective terms and conditions, but are generally still considered conventional loans.

The 28/36 Rule is a commonly accepted guideline used in the US and Canada to determine each household’s risk for conventional loans. It states that a household should spend no more than 28% of its gross monthly income on the front end and no more than 36% of its gross monthly income on the back end. The 28/36 Rule is a qualification requirement for conforming conventional loans, required by Fannie Mae or Freddie Mac guidelines.

While it has been adopted as one of the most widely-used methods of determining the risk associated with a borrower, as Shiller documents in his critically-acclaimed book Irrational Exuberance, the 28/36 Rule is often dismissed by lenders under heavy stress in competitive lending markets. Because it is so leniently enforced, more often used as a general rule of thumb, lenders find ways to work around it, usually with risky borrowers who wouldn’t have initially qualified under it.

Quick Tip: As a borrower in the marketplace searching for mortgages, it can be tempting to accept enticing offers from anxious lenders trying to meet management numbers. Don’t make this mistake, as a financial mishap of this magnitude can leave borrowers in pieces if things don’t go as planned.

FHA Loans

Please visit our FHA Loan Calculator to get more in-depth information regarding FHA loans, or to calculate estimated monthly payments on FHA loans.

An FHA loan is a mortgage insured by the Federal Housing Administration. Borrowers must pay for mortgage insurance in order to protect lenders from losses in instances of defaults on loans. The insurance allows lenders to offer FHA loans at lower interest rates than usual with more flexible requirements, such as down payment as a percentage of the purchase price.

To be approved for FHA loans, the front-end and back-end ratios of applicants need to be better than 31/43, respectively. In other words, monthly housing costs should not exceed 31% and all secured and non-secured monthly recurring debts should not exceed 43% of monthly gross income. FHA loans also require 1.75% upfront premiums.

It is immediately apparent that FHA loans have more lax debt-to-income controls than conventional loans; they allow borrowers to have 3% more front-end debt and 7% more back-end debt, and thus cater to riskier borrowers. Payments of mortgage insurance premiums by borrowers are what allows FHA to take on more risk.

VA Loans

Please visit our VA Mortgage Calculator to get more in-depth information regarding VA loans, or to calculate estimated monthly payments on VA mortgages.

A VA loan is a mortgage loan granted to veterans, service members on active duty, members of national guards, reservists, or surviving spouses guaranteed by the U.S. Department of Veterans Affairs (VA).

To be approved for VA loans, the back-end ratio of applicants need to be better than 41%. In other words, the sum of monthly housing costs and all recurring secured and non-secured debts should not exceed 41% of monthly gross income. VA loans generally do not consider front-end ratios of applicants but require funding fees.

For our calculator, we assume all VA loans are first-time use.

Custom Debt-to-Income Ratio Percentages

Aside from conventional, FHA, and VA loan ratios, there are also options to choose from a list of custom numbers from 10% to 50%. The numbers represent their debt-to-income ratios expressed as percentages. If coupled with down payments less than 20%, 0.5% of PMI insurance will automatically be added to monthly housing costs because they are assumed to be calculations for conventional loans. There are no options above 50% because that is the point at which DTI exceeds risk thresholds for nearly all mortgage lenders.

Quick Tip: Use lower percentages for more conservative estimates. A 20% DTI is easier to pay off during stressed financial periods compared to, say, a 45% DTI. The Conventional Loan option, which uses the 28/36 Rule, is one method that can be used when unsure.

Unaffordability

Some people will use the calculator to learn that they cannot afford their dream home. There are steps that can be taken to increase house affordability, albeit with time and due diligence.

  • Reduce debt in other areas This may include the choice of a less expensive car payment or paying off all student loans. In essence, lower standards of living in other areas in order to afford a highly sought-after house.
  • Increase credit scores A better credit scores can help the buyers to find a loan with better interest rate. A lower interest rate helps the buyer’s affordability.
  • Bigger down payments Paying more upfront accomplishes two things. One, it directly increases the amount the buyer can afford. Two, a big down payment help finding a better interest rate and therefore increase the buyer’s affordability.
  • Save more When DTI ratios aren’t satisfied, mortgage lenders may look at amounts of savings of borrowers as compensating factors.
  • Higher incomes Although much harder to accomplish than the others, it can culminate in the most drastic change in a borrower’s ability to purchase a certain home. 25% to 50% increase in salaries are not out-of-the-norm for the people who deserve it, and such jumps immediately have large impacts on DTI ratios. It is easier said than done though. It usually involves differing combinations of higher education, improving skills, networking, constant job searching, and lots of hard work.

Working towards achieving many or even all of these things will increase a household’s success rate in qualifying for purchases of homes in accordance with real lenders’ standards of qualifications. If these prove to be difficult, maybe consider less expensive homes. Some people find better luck moving to different cities. If not, there are various housing assistance programs at the local level, though these are geared more towards low-income households. Renting is a viable alternative, despite what conventional wisdom peddles; it may be helpful to rent for the time being in order to set up a better buying situation. Use our Rent Calculator to determine an affordable monthly rent based on income and debts.


French mortgage calculator – France Home Finance, house finance calculator.#House #finance #calculator


French Euro Mortgage Calculator

Figure out your monthly euro mortgage payments and estimate closing costs here:

Update any of the main fields and the other values will calculate. To re-calculate, press enter or click outside of the field you have just edited.

To see how much you can borrow based on a certain monthly payment, enter the monthly payment you want (for a given duration and interest rate) and the loan amount will re-calculate.

Important Notes: This calculator is for guidance only. It does not constitute an offer and does not take into account your personal eligibility for a loan. This calculator assumes monthly payments occuring at the start of each month, no deferred payment periods, a constant interest rate for the duration of the loan and a fully amortised or interest only loan type.

Your ability to qualify for a repayment or interest only French mortgage and the maximum loan amount depend on your personal financial situation. Request your personal decision in principle and detailed quote:

House finance calculator

House finance calculator

David Hulston, Sydney, Australia, Purchase of a Paris apartment

After previously dealing directly with French banks, it was a welcome relief to use the services of France Home Finance .

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Best French Mortgage Rates

Find the best interest rates available on the market for your French mortgage here:

French Interest Rate Indices

Check the latest Euribor and other key French mortgage rate indices here:

French Property Outlook 2015

Now more than ever is the time to invest in Parisian real estate! We are in the midst of the perfect storm of a weak euro, low French interest rates and stable yet undervalued property prices (for the moment.)

French Property Outlook 2014

Prices soften, but not always on the homes or apartments you want to buy!

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Buying a Piece of France – Tax and Legal Need to Know, November 2015

Leigh-Alexandra Basha, international solicitor specilized in France, explains the latest tax, legal and accounting evolutions in French real estate :

Tax Legal Aspects of Buying a Pied à Terre in France

Leigh-Alexandra Basha, international solicitor and expert on French property acquisition, explains what you need to know:

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Finance Calculator, house finance calculator.#House #finance #calculator


Finance Calculator

This finance calculator can be used to calculate any number of the following parameters: future value (FV), number of compounding periods (N), interest rate (I/Y), annuity payment (PMT), and start principal if the other parameters are known. Each of the following tabs represents the parameters to be calculated.

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In basic finance courses, lots of time is spent on the computation of the time value of money, which can involve 4 or 5 different elements, including Present Value (PV), Future Value (FV), Interest Rate (I/Y), and number of periods (N). Annuity Payment (PMT) can be included but is not a required element.

The Time Value of Money

Suppose someone owes you $500. Would you rather have this money repaid to you right away in one payment, or spread out over a year in four installment payments? How would you feel if you had to wait to get the full payment, instead of getting it all at once? Wouldn’t you feel that the delay in the payment cost you something?

According to a concept that economists call the “time value of money,” you will probably want all the money right away because it can immediately be deployed for many different uses: spent on the lavish dream vacation, invested to earn interest, or used to pay off all or part of a loan. The “time value of money” refers to the fact that a dollar in hand today is worth more than a dollar promised at some future time.

This is the basis of the concept of interest payments; a good example is when money is deposited in a savings account, small dividends are received for leaving the money with the bank; the financial institution pays a small price for having that money at hand. This is also why the bank will pay more for keeping the money in longer, and for committing it there for fixed periods.

This increased value in money at the end of a period of collecting interest is called future value in finance. Here is how it works.

Suppose $100 (PV) is invested in a savings account that pays 10% interest (I/Y) per year. How much will there be in one year? The answer is $110 (FV). This $110 is equal to the original principal of $100 plus $10 in interest. $110 is the future value of $100 invested for one year at 10%, meaning that $100 today is worth $110 in one year, given that the interest rate is 10%.

In general, investing for one period at an interest rate r will grow to (1 + r) per dollar invested. In our example, r is 10%, so the investment grows to:

$1.10 dollars per dollar invested. Because $100 was invested in this case, the result, or FV is:

The original $100 investment is now $110. However, if that money is kept in the savings account further, what will be the resulting FV after two years, assuming the interest rate remains the same?

$11 will be earned in interest after the second year, making a total of:

$121 is the future value of $100 in two years at 10%.

Also, the PV in finance is what the FV will be worth given a discount rate, which carries the same meaning as interest rate except applied inversely with respect to time (backwards rather than forward. In the example, the PV of a FV of $121 with a 10% discount rate after 2 compounding periods (N) is $100.

This $121 FV has several different parts in terms of its money structure:

  • The first part is the first $100 original principal, or its Present Value (PV)
  • The second part is the $10 in interest earned in the first year.
  • The third part is the other $10 interest earned in the second year.
  • The fourth part is $1 which is interest earned in the second year on the interest paid in the first year: ($10 0.10 = $1)

PMT or annuity payment is an inflow or outflow amount that occurs at each compounding period of a financial stream. Take for instance, a rental property that brings in rental income of $1,000 per month, a recurring cash flow. Investors may wonder what the cash flow of $1,000 per month for 10 years is worth, otherwise they have no conclusive evidence that suggests they should invest so much money into a rental property. As another example, what about the evaluation of a business that generates $100 in income every year? What about the payment of a down payment of $30,000 and a monthly mortgage of $1,000? For these questions, the payment formula is quite complex so it is best left in the hands of our Finance Calculator, which can help evaluate all these situations with the inclusion of the PMT function. Don’t forget to choose the correct input for whether payments are made at the beginning or end of compounding periods; the choice has large ramifications on the final amount of interest incurred.

Finance Class

For any business student, it is an immensely difficult task to navigate finance courses without a handy financial calculator. While most basic financial calculations can technically be done by hand, professors generally allow students to use financial calculators, even during exams. It’s not the ability to perform calculations by hand that’s important; it’s the understanding of financial concepts and how to apply them using these handy calculating tools that were invented. Our web-based financial calculator can serve as a good tool to have during lectures or homework and because it is web-based, it is never out of reach, as long as a smartphone is nearby. The inclusion of a balance accumulation graph , amortization schedule, and pie chart breakdown of principal and interest, two things missing from physical calculators, can be more visually helpful for learning purposes.

The Importance of the Finance Calculator

In essence, our Finance Calculator is the foundation for most of our Financial Calculators. It helps to think of it as an equivalent to the steam engine that was eventually used to power a wide variety of things such as the steamboat, railway locomotives, factories, and road vehicles. There can be no Mortgage Calculator, or Credit Card Calculator, or Auto Loan Calculator without the concept of the time value of money as explained by the Finance Calculator. As a matter of fact, our Investment Calculator is simply a rebranding of the Finance Calculator while everything underneath the hood is essentially the same. Start Principal is simply renamed to ‘Starting Amount’, FV is ‘End Amount’, N is ‘Invest Length’, and so on and so forth.


How Much House Can I Afford – House Affordability Calculator, house finance calculator.#House #finance #calculator


How Much House Can I Afford?

There are two House Affordability Calculators that can be used to estimate the affordable amount for houses based on either household income-to-debt estimates or fixed monthly budgets. They are intended for use by residents in the United States only.

House finance calculator

House Affordability Based on Fixed, Monthly Budgets

This is a separate calculator used to estimate house affordability based on monthly allocations of fixed amounts for housing costs.

Conventional, FHA, and some other mortgage lenders like to use two ratios called the front-end and back-end ratios to determine the home loans that each household can afford. They are basic debt-to-income ratios, albeit slightly different. However, all potential homeowners should take steps toward achieving more desirable ratios in the eyes of lenders if they seek houses out of their affordability range.

Front-End Ratio

Front-end debt ratio is also known as the mortgage-to-income ratio, computed by dividing total monthly housing costs by monthly gross income. For our calculator, only conventional and FHA loans utilize it. The monthly housing costs not only includes interest and principal on the loan, but other costs associated with housing like insurance, property taxes, and HOA/Co-Op Fee.

Back-End Ratio

Back-end debt ratio is the more all-encompassing picture of a household’s ability to serve home loans. It includes everything in the front-end ratio dealing with housing costs, along with any accrued recurring monthly debt like car loans, student loans, and credit cards. This ratio is commonly defined as the well-known debt-to-income ratio, and is used for all the calculations.

Conventional Loans and the 28/36 Rule

In the US, a conventional loan is a mortgage that is not insured by the federal government directly and generally refers to a mortgage loan that follows the guidelines of government-sponsored enterprises (GSE’s) like Fannie Mae or Freddie Mac. Conventional loans may be either conforming or non-conforming. Conforming loans are bought by housing agencies such as Freddie Mac and Fannie Mae and follow their terms and conditions. Non-conforming loans are any loans not bought by these housing agencies and don’t follow their respective terms and conditions, but are generally still considered conventional loans.

The 28/36 Rule is a commonly accepted guideline used in the US and Canada to determine each household’s risk for conventional loans. It states that a household should spend no more than 28% of its gross monthly income on the front end and no more than 36% of its gross monthly income on the back end. The 28/36 Rule is a qualification requirement for conforming conventional loans, required by Fannie Mae or Freddie Mac guidelines.

While it has been adopted as one of the most widely-used methods of determining the risk associated with a borrower, as Shiller documents in his critically-acclaimed book Irrational Exuberance, the 28/36 Rule is often dismissed by lenders under heavy stress in competitive lending markets. Because it is so leniently enforced, more often used as a general rule of thumb, lenders find ways to work around it, usually with risky borrowers who wouldn’t have initially qualified under it.

Quick Tip: As a borrower in the marketplace searching for mortgages, it can be tempting to accept enticing offers from anxious lenders trying to meet management numbers. Don’t make this mistake, as a financial mishap of this magnitude can leave borrowers in pieces if things don’t go as planned.

FHA Loans

Please visit our FHA Loan Calculator to get more in-depth information regarding FHA loans, or to calculate estimated monthly payments on FHA loans.

An FHA loan is a mortgage insured by the Federal Housing Administration. Borrowers must pay for mortgage insurance in order to protect lenders from losses in instances of defaults on loans. The insurance allows lenders to offer FHA loans at lower interest rates than usual with more flexible requirements, such as down payment as a percentage of the purchase price.

To be approved for FHA loans, the front-end and back-end ratios of applicants need to be better than 31/43, respectively. In other words, monthly housing costs should not exceed 31% and all secured and non-secured monthly recurring debts should not exceed 43% of monthly gross income. FHA loans also require 1.75% upfront premiums.

It is immediately apparent that FHA loans have more lax debt-to-income controls than conventional loans; they allow borrowers to have 3% more front-end debt and 7% more back-end debt, and thus cater to riskier borrowers. Payments of mortgage insurance premiums by borrowers are what allows FHA to take on more risk.

VA Loans

Please visit our VA Mortgage Calculator to get more in-depth information regarding VA loans, or to calculate estimated monthly payments on VA mortgages.

A VA loan is a mortgage loan granted to veterans, service members on active duty, members of national guards, reservists, or surviving spouses guaranteed by the U.S. Department of Veterans Affairs (VA).

To be approved for VA loans, the back-end ratio of applicants need to be better than 41%. In other words, the sum of monthly housing costs and all recurring secured and non-secured debts should not exceed 41% of monthly gross income. VA loans generally do not consider front-end ratios of applicants but require funding fees.

For our calculator, we assume all VA loans are first-time use.

Custom Debt-to-Income Ratio Percentages

Aside from conventional, FHA, and VA loan ratios, there are also options to choose from a list of custom numbers from 10% to 50%. The numbers represent their debt-to-income ratios expressed as percentages. If coupled with down payments less than 20%, 0.5% of PMI insurance will automatically be added to monthly housing costs because they are assumed to be calculations for conventional loans. There are no options above 50% because that is the point at which DTI exceeds risk thresholds for nearly all mortgage lenders.

Quick Tip: Use lower percentages for more conservative estimates. A 20% DTI is easier to pay off during stressed financial periods compared to, say, a 45% DTI. The Conventional Loan option, which uses the 28/36 Rule, is one method that can be used when unsure.

Unaffordability

Some people will use the calculator to learn that they cannot afford their dream home. There are steps that can be taken to increase house affordability, albeit with time and due diligence.

  • Reduce debt in other areas This may include the choice of a less expensive car payment or paying off all student loans. In essence, lower standards of living in other areas in order to afford a highly sought-after house.
  • Increase credit scores A better credit scores can help the buyers to find a loan with better interest rate. A lower interest rate helps the buyer’s affordability.
  • Bigger down payments Paying more upfront accomplishes two things. One, it directly increases the amount the buyer can afford. Two, a big down payment help finding a better interest rate and therefore increase the buyer’s affordability.
  • Save more When DTI ratios aren’t satisfied, mortgage lenders may look at amounts of savings of borrowers as compensating factors.
  • Higher incomes Although much harder to accomplish than the others, it can culminate in the most drastic change in a borrower’s ability to purchase a certain home. 25% to 50% increase in salaries are not out-of-the-norm for the people who deserve it, and such jumps immediately have large impacts on DTI ratios. It is easier said than done though. It usually involves differing combinations of higher education, improving skills, networking, constant job searching, and lots of hard work.

Working towards achieving many or even all of these things will increase a household’s success rate in qualifying for purchases of homes in accordance with real lenders’ standards of qualifications. If these prove to be difficult, maybe consider less expensive homes. Some people find better luck moving to different cities. If not, there are various housing assistance programs at the local level, though these are geared more towards low-income households. Renting is a viable alternative, despite what conventional wisdom peddles; it may be helpful to rent for the time being in order to set up a better buying situation. Use our Rent Calculator to determine an affordable monthly rent based on income and debts.


How To Buy A House – 6 Must-Do – s Before Buying A Home, finance house.#Finance #house


6 things you must do before buying a home

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Check off these 6 items before buying

Buying a home is a huge investment. Before you jump into the wonderful world of homeownership, make sure you are prepared with these six steps. Learn about credit score requirements, mortgage options and other must-do’s.

6 simple steps to buying a house

  1. Strengthen your credit score.
  2. Figure out what you can afford.
  3. Save for down payment, closing costs.
  4. Build a healthy savings account.
  5. Get preapproved for a mortgage.
  6. Buy a house you like.

Ready to be a homeowner? Compare mortgage rates to get the best deal on a mortgage.

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Strengthen your credit score

“Below 660 or 680, you’re either going to have to pay sizable fees or a higher down payment,” says Barry Zigas, housing policy director for the Consumer Federation of America.

On the other end, a score of 700 to 720 will get you a good deal, and 750 and above will garner the best rates on the market.

Improve your chances by: pulling your credit reports and ensuring you’re not being unfairly penalized for old, paid or settled debts. Get your credit report and score today, free and with no obligation, at myBankrate.

Stop applying for new credit a year before you apply for financing. And keep the moratorium in place until after you close on your home.

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Figure out what you can afford

The buyer’s mantra: Get a home that’s financially comfortable.

There are various rules of thumb that will help you get an idea of how much home you can afford. If you’re using FHA financing, your home payment can’t exceed 31 percent of your monthly income. But with some mitigating factors, the FHA will let you go higher.

For conventional loans, a safe formula is that home expenses should not exceed 28 percent of your gross monthly income, says Susan Tiffany, retired director of personal finance publications for adults for the Credit Union National Association.

For a rough assessment of how much house you can afford, check out Bankrate’s new house calculator.

Improve your chances by: trying on that financial obligation long before you sign the mortgage papers. Before you shop for a home, calculate the mortgage payment for the home in your intended price range, along with the increased expenses (such as taxes, insurance and utilities). Then bank the difference between that and what you’re paying now.

Now that you know how much you can afford, compare mortgage rates.

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Save for down payment, closing costs

Depending on your credit and financing, you’ll typically need to save enough money for a down payment — somewhere between 3 and 20 percent of the home’s price.

To get an FHA loan, you need a credit score of 580 or higher.

One exception: Veterans Affairs loans, which require no down payment.

Another cash expense: closing costs. Whatever your loan source, you’ll also need money to pay closing costs. For a $200,000 mortgage, closing costs run (depending on where you live) from $2,300 to $4,000. Get the average closing costs in your state at Bankrate’s closing costs map.

Improve your chances by: banking your own money and seeking down payment assistance. Often, it’s location-based or tagged to a certain type of buyer, like first-timers. Search online with the city name, then the county name, along with word combinations such as “down payment assistance,” “first-time homebuyers” and “homebuyer’s assistance.”

In a buyer’s market, you can also negotiate to have the seller pay a portion of the closing costs.

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Build a healthy savings account

Building your savings is something you should do over and above saving money for the down payment and closing. Your lender wants to see that you’re not living paycheck to paycheck. If you have three to five months’ worth of mortgage payments set aside, that makes you a much better loan candidate. And some lenders and backers, like the FHA, will give you a little more latitude on other factors if they see that you have a cash cushion.

That money will also help cover maintenance and repair issues that come up when you own a home. While repairs are sporadic, items such as a new roof, water heater or other big-ticket items can hit suddenly and hard.

Improve your chances by: setting aside money every month. A good rule of thumb: On average, you’ll spend 2.5 to 3 percent of your home’s value annually on upkeep, repairs and maintenance. If you’re buying a $250,000 home, aim to save $520 to $625 per month.

Get some interest on your savings today by shopping savings accounts.


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Welcome to House Building Finance Company, house finance calculator.#House #finance #calculator


INTRODUCTION

Welcome to House Building Finance Company Limited (HBFCL), Pakistan’s leading housing finance institution. Through our Head office in Karachi and a countrywide network of Regional, Zonal and Branch Offices, we are able to offer our services to clients in every part of the country.

Since our inception we have provided a range of housing finance products and services for nearly half a million housing units. Now, HBFCL is geared up to play a pivotal role in addressing the increasing housing shortage in the country, currently estimated to be in excess of 7.5 million housing units.

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Mr. Saeed Khan – Managing Director/Member HBFCL Board of Directors has MBA Degree from Peshawar University and has over 35 years of experience in Banking and Non-Banking sectors. He has been serving HBFCL since 1987 and has extensive exposure and experience of Housing Finance.

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LATEST NEWS

  • Extension in Ghar Asan Scheme (GAS) Incentive Package
  • Ghar Asan Scheme
  • Revival of HBFCL Call Center for Customer Care @ Toll Free No. 0800-42325
  • HBFCL & ABAD joining hands together to provide Affordable Smart Home Finance to Lower & Middle income group
  • HBFCL participated & introduced Smart Home concept in Grand Intl. ABAD-JANG EXPO 2017 at Islamabad
  • Providing Low Cost Housing Finance Solution to underserved upto 1.5 million

Grievance Commissioner Cell for Overseas Pakistanis

The Honorable Federal Ombudsman of Pakistan, Mr. M, Salman Faruqui NI, has established the Grievance Commissioner Cell for Overseas Pakistanis in Federal Ombudsman Secretariat by appointing Hafiz Ahsaan Ahmad Khokhar Advocate Supreme court of Pakistan, Senior Advisor Law/Registrar as Grievance Commissioner for Overseas Pakistanis under Section (7) of the Federal Ombudsman Institutional Reforms Act, 2013, to address the individual and systematic issues of the Overseas Pakistanis related to the Federal Government Ministries , Departments, Organizations and Agencies.