ISLAMABAD -The federal government has reduced the number of documents required to obtain housing loans under the Prime Minister’s Apna Ghar Programme to five, aiming to simplify the application process and facilitate people seeking financing to build their first homes.
The Ministry of Housing and Works has issued instructions to banks regarding the revised documentation requirements, according to an official statement.
The five required documents include a transfer letter, possession letter, approved building plan, no-objection certificate (NOC) for mortgage and registration of the mortgage.
The ministry said the move was part of efforts to standardise and streamline the documentation process for housing finance under the government-backed initiative.
According to the ministry’s spokesperson, the Apna Ghar Programme is an important housing finance initiative being implemented across the country. Under the scheme, the government is providing loans of up to Rs10 million to eligible applicants for the construction of their first homes.
The initiative aims to make housing finance more accessible by facilitating individuals and families who wish to build their own houses but face difficulties meeting conventional lending requirements.
The ministry said banks had been instructed to adhere to the revised requirements, under which the documents needed for housing finance had been limited to five standardised items.
The reduction in documentation is expected to ease administrative hurdles for applicants and make the loan application process more straightforward.
Standardising the requirements across participating banks is also intended to improve consistency in the processing of housing finance applications.
Housing finance remains an important consideration for households seeking to construct their own homes, particularly those who face challenges arranging the funds required for construction.
Through the Apna Ghar Programme, the government seeks to support first-time homeowners by providing access to financing for residential construction.
The ministry reiterated that the initiative was operational nationwide and that the revised documentation requirements would apply to housing finance under the programme.
Further details regarding eligibility criteria, loan repayment terms and the application process can be obtained from participating banks.
