Mera Ghar Mera Ashiana Scheme Eligibility Criteria, Loan Limits And Registration Process

Mera Ghar Mera Ashiana Scheme

Owning a home is a dream for many families, but with the rising cost of land and construction, it can feel like an impossible goal. To help make homeownership more accessible, the Mera Ghar Mera Ashiana Loan Scheme 2025 was introduced by the Government of Pakistan under the supervision of the State Bank of Pakistan (SBP). This scheme is designed specifically for low- and middle-income families who are seeking to buy or build their first home. With affordable loan options, subsidized markup rates, and flexible repayment terms, it’s a game-changer for many.

In this article, we’ll take you through the eligibility criteria, loan limits, and the registration process for the Mera Ghar Mera Ashiana Loan Scheme 2025, ensuring you have all the information you need to make your dream of homeownership a reality.

What is the Mera Ghar Mera Ashiana Loan Scheme?

Mera Ghar Mera Ashiana Loan Scheme 2025 is a government initiative that provides affordable housing finance options to eligible individuals in Pakistan. The scheme is designed to assist first-time homebuyers who might struggle to meet the financial requirements of traditional home loans. By offering low markup rates, long repayment terms, and risk-sharing between banks and the government, this scheme makes home loans much more accessible.

The scheme covers a variety of housing needs, including:

• Purchasing a ready-to-move-in house or flat
• Constructing a house on an already owned plot
• Buying a plot and constructing a house on it

With participation from commercial banks, Islamic banks, microfinance banks (MFBs), and the House Building Finance Corporation Limited (HBFCL), this initiative is accessible to families across the country.

Eligibility Criteria for the Mera Ghar Mera Ashiana Loan Scheme 2025

To qualify for the Mera Ghar Mera Ashiana Loan Scheme, applicants must meet the following requirements:

1. First-Time Homeowners: The scheme is exclusively for individuals who have never owned a house, flat, or property before.
2. Valid Pakistani CNIC: Applicants must be Pakistani citizens and provide a valid CNIC (National Identity Card) to verify their identity.
3. Proof of Income: To ensure applicants can repay the loan, they must provide proof of income, such as salary slips, bank statements, or business records.
4. Loan Requirements: The bank will assess the applicant’s ability to repay the loan based on the provided income proof and other financial criteria.

These criteria ensure that the scheme is accessible to first-time homeowners who truly need assistance in purchasing or building a home.

Loan Limits and Sizes Under the Mera Ghar Mera Ashiana Scheme 2025

The Mera Ghar Mera Ashiana Loan Scheme offers financial assistance in two loan tiers to suit different housing needs:

• Tier 1 (T1): Loans up to PKR 2 million with a 5% fixed markup rate. This tier is ideal for smaller homes, such as a 5 Marla house or a small flat.
• Tier 2 (T2): Loans between PKR 2 million and PKR 3.5 million with an 8% fixed markup rate. This tier caters to families needing larger homes or those looking to build on a bigger plot of land.

The Loan-to-Value (LTV) ratio for this scheme is 90:10, meaning that the bank covers up to 90% of the property’s value. And the borrower only needs to contribute 10% as the down payment. This low upfront cost makes the scheme more accessible for families with limited savings.

Registration Process for the Mera Ghar Mera Ashiana Loan Scheme 2025

Applying for the Mera Ghar Mera Ashiana Loan Scheme is straightforward. Follow these steps to get started:

1. Visit a Participating Bank: The first step is to visit any participating bank. These include major commercial banks, Islamic banks, and microfinance banks. You can find a list of participating banks on the SBP website or directly inquire at your nearest bank branch.
2. Fill Out the Application Form: At the bank, ask for the loan application form for the Mera Ghar Mera Ashiana Loan Scheme. Fill out the form accurately, providing all necessary details.
3. Submit Required Documents: You will need to submit certain documents along with the application form. These typically include:
   • CNIC (National Identity Card)
   • Proof of income (such as salary slips or business records)
   • Property documents (if applicable, depending on whether you are buying or constructing a house)
4. Eligibility Check and Loan Assessment: The bank will verify your documents and assess your eligibility based on the information provided. They will also calculate the loan amount you qualify for.
5. Loan Approval and Disbursement: Once your application is approved, the loan amount will be disbursed, and you will begin making repayments according to the agreed terms.

Key Benefits of the Mera Ghar Mera Ashiana Loan Scheme

Mera Ghar Mera Ashiana Loan Scheme offers several significant benefits that make it a compelling option for first-time homebuyers:

• Affordable Markup Rates:
• The fixed 5% markup for Tier 1 loans and 8% for Tier 2 loans are significantly lower than traditional market rates, making monthly repayments more affordable.
• Long Loan Tenure:
• The scheme offers a loan tenure of up to 20 years, with a subsidy for the first 10 years. This long tenure helps to reduce the monthly installment amount, making it easier to manage finances.
• Low Down Payment:
• You only need to contribute 10% of the property value as a down payment, making it much easier for families with limited savings to own a home.
• Risk Protection:
• The Government of Pakistan offers risk coverage for banks, covering up to 10% of the outstanding loan amount in case of defaults. This ensures that banks are willing to lend more freely, benefiting borrowers.
• No Hidden Charges:
• There are no processing fees, and there’s no penalty for early repayment, which reduces the overall cost of the loan.

Frequently Asked Questions (FAQ)

Q1: Can I apply if I already own a small house?
A1: No, the Mera Ghar Mera Ashiana Loan Scheme is specifically for first-time homeowners. Applicants must not currently own any residential property.

Q2: What is the maximum loan amount I can get?
A2: Under Tier 1, you can get a loan of up to PKR 2 million, and under Tier 2, the loan amount can be up to PKR 3.5 million.

Q3: Which banks offer this loan?
A3: The loan is available through commercial banks, Islamic banks, microfinance banks (MFBs), and the House Building Finance Corporation Limited (HBFCL).

Q4: How much is the down payment?
A4: The required down payment is only 10% of the property value, which makes the scheme highly accessible.

Q5: Can I repay my loan early?
A5: Yes, you can repay the loan early without any prepayment penalties.

Conclusion

Mera Ghar Mera Ashiana Loan Scheme 2025 is a fantastic opportunity for first-time homebuyers looking for an affordable path to homeownership. With low markup rates, long repayment terms, and minimal down payment, it makes homeownership accessible to low- and middle-income families across Pakistan. The risk-sharing initiative from the Government of Pakistan ensures that banks are more willing to lend, further benefiting the borrowers.

Whether you’re looking to purchase a ready-to-move-in home, construct on your plot, or buy land and build your dream house, the Mera Ghar Mera Ashiana Loan Scheme offers the support and flexibility you need to make your dream a reality. Don’t miss out on this unique opportunity to own your home in 2025!