The State Bank of Pakistan (SBP) has relaxed key rules to support the Apna Ghar Program. The move aims to make home loans easier and faster for the public. It is part of the government’s plan to increase access to affordable housing.
According to reports, the SBP has directed banks to speed up loan processing. Lending institutions must now complete credit approvals within 15 working days. This timeline starts once a complete application is submitted under the Apna Ghar Program.
Officials say the new step will reduce delays in mortgage approvals. It will also help more people apply for home loans. Faster processing is expected to improve confidence among applicants.
The SBP has also made changes to loan eligibility rules. The debt burden ratio has been increased under the updated policy. Borrowers can now use up to 65% of their net income for loan repayments. This includes both housing loans and existing debts.
This change is likely to expand eligibility for many applicants. More individuals may now qualify for financing under the Apna Ghar Program. Experts believe this will support middle-income families in buying homes.
In addition, the SBP has simplified property valuation requirements. For properties worth up to Rs5 million, banks can use their own valuation methods. This step will reduce time and paperwork in the approval process.
For properties above Rs5 million, at least one valuation is still required. This must be done by an evaluator approved by the Pakistan Banks’ Association (PBA). The measure ensures proper checks for higher-value properties.
The SBP has also relaxed certain housing finance regulations. These include rules under HF-3 and HF-7. Banks and the House Building Finance Company Limited (HBFCL) have been instructed to follow the updated guidelines.
Officials say these changes are part of wider efforts to improve housing finance in Pakistan. The country has low mortgage usage despite growing demand in cities.
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By easing rules and improving access, the government hopes to support the housing sector. The Apna Ghar Program is seen as a key step toward making home ownership possible for more citizens.
