On LBCI, Antoine Habib unveils housing loan membership: Conditions for eligibility

Housing Bank Chairman Antoine Habib announced the initiation of a program aimed at providing housing loans to low and moderate-income individuals, supported by the Arab Fund for Economic and Social Development.

According to Habib, the program began accepting applications on June 3rd.

On LBCI's "Nharkom Said" TV show, he outlined that the loans are intended for various purposes, including purchasing apartments, construction, renovation, and solar energy projects. 

Eligibility criteria specify that apartments must not exceed 150 square meters, applicants should not have benefited from another subsidized loan, and they must be Lebanese citizens without land ownership in Lebanon.

"We are committed to providing housing solutions for those with limited means," Habib emphasized.

In addition, he noted that the initiative targets to accommodate up to 6,000 housing units over the next five years.

Applicants are required to secure 20 percent of the apartment's value and provide insurance ranging from $1,200 to $1,500 per month, depending on income levels. 

This amount must be guaranteed from the individual's salary or by a suitable guarantor.

Habib stressed that the loan program is designed to be transparent and free from political or non-political interference, ensuring fair access to all qualified applicants.

"The project also includes provisions for individuals with special needs, as we recognize their unique challenges," he added.

"Starting from July 1st, approximately 1,200 eligible individuals will begin benefiting from the program, provided they submit all required documentation," Habib continued.

During discussions with Saudi Arabia's Ambassador to Lebanon, Waleed Bukhari, Habib confirmed plans for an additional housing annex agreement, which will complement the existing loan offerings.

The agreement is expected to be finalized and signed by the Lebanese Cabinet soon.