PM’s Apna Ghar Program, also referred to as Ghar Ho Tu Apna is a government-supported housing finance program which aims to assist eligible Pakistani nationals to construct or buy their own houses at low interest rates.
Under this scheme, the applicants are able to access up to Rs10 million financing to purchase a house or flat, purchase a plot with construction, or purchase a flat on a plot that one already owns.
Eligibility Criteria
The applicants have to be Pakistani citizens with an authentic CNIC and must be first-time homeowners, i.e. they do not already own a house under their name.
They should also not have enjoyed the benefits of any other housing finance program. The program is open to all salaried people, business owners, freelancers and those whose income sources are informal.
Financing Details
The financing limit would be between Rs2.5 million and Rs10 million with the maximum repayment tenure of 20 years.
The markup rate will be set at 5 per cent on the first 10 years after which the current banking rate will prevail.
At least 10 per cent equity must be contributed by the applicant with the remaining 90 per cent being financed by the scheme. There are neither processing charges nor early repayment penalties.
Application Process
The applications should be made via the official portal apnaghar.gov.pk. Upon creating an account and logging in, users are required to choose their income category, purpose of financing and the bank of choice.
They must then submit personal, financial and employment information.
Documents and Submission required
Applicants are required to submit important documents like copies of CNICs, photographs, salary slips, bank statements and employment certificates.
Upon completion of all the details the application is sent online to be processed by the chosen bank.
Key Points
The scheme ensures affordable homeownership with subsidised markup rates, no hidden charges, and flexible financing options.
It is recommended that applicants provide the right information and full documentation to prevent delays in the approval.
Also read: PM Shehbaz launches “Apna Ghar” scheme
