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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    With its launch imminent, learn about the terms and details of Iraqi Housing Fund loans

    Rocky
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    With its launch imminent, learn about the terms and details of Iraqi Housing Fund loans Empty With its launch imminent, learn about the terms and details of Iraqi Housing Fund loans

    Post by Rocky Mon 08 Jan 2024, 6:33 am

    [size=35][size=35]With its launch imminent, learn about the terms and details of Iraqi Housing Fund loans[/size]
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    01-08-2024 | 05:46
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    Al-Sumaria News - Local

    Some Iraqis are looking forward to the month of February with great "passion", in anticipation of the launch of applications for Housing Fund loans, after the Minister of Construction announced the date of launching applications, to obtain the loan amounting to 60 million Iraqi dinars for citizens who own plots of land that they want to build.


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    The Minister of Construction, Benkin Rikani, said in a blog post on his Facebook account, “I receive many inquiries about opening applications for the Housing Fund loan, and for clarification, applications will be opened from February 4 until February 7, every day for a group of governorates,” noting that “the application will It will remain open according to the available amount and will close when it is exhausted.”




    Conditions for applying
    : Conditions for applying for housing loans include the citizen’s need to produce Bond 25, a building permit, a record of establishing boundaries, a building map, and a guarantor. If the borrower is an employee, he can guarantee himself.

    Type of land:
    The type of land must be pure property and its area must not be less than 100 square metres. Granting a loan can be of several types. First: If the land is flat, the borrower can build one or two floors. Second: Adding a building, that is, if the borrower has a ground floor. If he wants to build the second one, he can add another floor to it. The loan does not include any renovation, but rather is a construction loan.

    The age limit
    and the housing loan are obligated to be reconstructed based on the insurance company because the fund’s loan from the insurance company cancels the loan in the event of the borrower’s death, which specifies the age from 18 – 65 years. It is stipulated here that the borrower himself is the one who applies for the loan and completes the transaction procedures exclusively.

    Loan disbursement mechanism The
    loan disbursement mechanism is in the form of three payments, the first is 30% of the loan value on the roof, 40% on the roofing, and the third is 30% spent on the finishes according to a specialized committee that checks at each stage to disburse each payment.

    Repayment of the loan.
    The deduction rate is 348 thousand and 750 dinars, which is paid monthly electronically through a specialized company according to electronic outlets authorized by the Housing Fund.


    Death of the borrower:
    In the event of the death of the borrower, the loan is forfeited, and here his heirs who have a guardianship claim must go to complete the transaction procedures and complete the payment.

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