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The Housing Fund sets the amounts and conditions for granting construction loans
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Today, Monday, the Housing Fund set the amounts and conditions for granting construction loans.
The director of the fund, Dia Mujd, said in an interview with the Iraqi News Agency, and followed by "Economy News", that "the loan ceiling has been raised since the beginning of this year to 75 million in the provincial centers, 60 million in the outskirts of Baghdad, and 50 million in the outskirts of the provinces."
He added, "Applying to the fund is open to all governorates, within the housing initiative," noting that "the fund grants loans for construction or addition, as for the purchase of housing units, it falls within the jurisdiction of the real estate bank."
He continued, "The condition of the area of the house or the land of 100 meters is found in the text of the law and is not modified except by law," explaining, "It is a condition of the law that if the bond is independent and its area is less than 100 square meters, a loan is granted, but if the bond is shared (joint)," The law stipulated that the common share should not be less than 100 metres.
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