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BBAC expatriate housing loan
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| | BBAC expatriate housing loan
Lebanese people have forever been elite representatives in the expanse of the world. Equally, a caring and committed effort to ease their return back hometown is desirable. BBAC expatriate housing loan is a simple scheme adapted to your specific payment capabilities to buy, construct or renovate a house.
All Lebanese citizens residing or working abroad with at least two years working experience are entitled to benefit from this loan. The loan amount starts with a minimum of 20000 USD covers up to 60% of the value of residence in case of purchase and up to 60% in case of construction or renovation.
The first 2 years interest rate is 4.5%, a low interest rate of Libor + 4.5 % for USD with a minimum of 6.5% is applicable from the third year until the loan’s expiration with a grace period of 12 month.
The loan duration varies between 5 years and 15 years on condition that the loan amount is paid before the age of 64. The monthly settlement should not exceed 1/3 of the salary of employees and 1/4 of the revenue for self employed.
Capital Insurance and Reinsurance (member of BBAC) offers low insurance premium for life, permanent total disability, fire and war cover. Payment of the insurance is calculated on the basis of the loan balance (decreasing term insurance).
For further information please contact us
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