BBAC offers you the Expatriate Housing Loan that helps you sustain your roots and ease your return home.
Lebanon is waiting to welcome you home!
ARE YOU ELIGIBLE FOR THE EXPATRIATE HOUSING LOAN? -You must be a Lebanese expatriate residing or working abroad -You must be between 24-69 years at loan maturity -You must have at least 2 years of work experience -You must have a minimum monthly income of USD 3,000 -You must be purchasing, constructing or renovating a house
WHAT DO YOU NEED TO KNOW ABOUT THE LOAN? -Currency: US Dollars -Financing Amount: up to 70% of the property estimated value in the case of purchasing and 60% in the case of construction or renovation -Loan Amount: USD 3 Million -Repayment Period: up to 20 years -Interest Rate: 5.5% for the first year then BRR + 0.5 Minimum 7% -File Fees: 0.5% of loan amount (min LBP 225,000) -Expert Fees: USD 200
WHAT ARE THE GUARANTEES AND CONDITIONS REQUIRED FOR THE LOAN? -The monthly repayment should not exceed 35% of the monthly income for employees -First degree mortgage on the house in favor of BBAC -Property and fire insurance policy on the house from an insurance company acceptable to BBAC. -Life insurance policy covering death and permanent total disability from an insurance company acceptable to BBAC. -Additional guarantees such as salary domiciliation and personal guarantee on a case by case basis
WHAT IS THE NEXT STEP? You can apply for the Expatriate Housing Loan by visiting any of the BBAC branches, where the customer service representatives are ready to provide assistance, or online.