Launching applications for housing loans in Iraq

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[size=52]Launching applications for housing loans in Iraq[/size]

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02/01/2024
Baghdad: Wafa Amer
The Ministry of Construction, Housing and Public Municipalities will launch early next week applications for Housing Fund loans, within the Fund’s lending plan amounting to 750 billion dinars.
The Ministry’s official spokesman, Nabil Al-Saffar, stated that the application process will be exclusively electronic, through a specially prepared electronic form that will remain open until the allocated quota for each governorate is exhausted, pointing out that the number of beneficiaries of the Fund’s loans for the past year 2023 reached 20 thousand borrowers, with total amounts reaching 650. One billion dinars, noting that the lending process witnessed remarkable progress after the transition to electronic work, which facilitated the procedures for granting loans and blocked the way for the weak of souls who try to blackmail citizens who wish to obtain loans.
Al-Saffar explained that there is an increase of 100 million dinars for borrowers applying for the residential complexes implemented by the ministry, while he pointed out that the fund facilitated the process of entering the website form and applying for the loan easily, since many citizens were complaining in previous times about the difficulty of entering the website, and thus Office owners exploit them, pointing out that the loans will be granted according to entitlement and priority, with all borrowers retaining the right to obtain the loan according to the available amounts.
He stressed that the conditions for obtaining the loan are that the land area should not be less than 100 meters and the building area should not be less than 65 meters, in addition to preparing the necessary requirements for application, which are a Form 25 bond and a prohibition on fixing boundaries issued by the Real Estate Registration Department, in addition to a building permit from the municipality and a building plan. From an engineering office certified by the municipal department, and if there is a split, a special engineering drawing must be prepared for it.
At the conclusion of his speech, Al-Saffar revealed that there are expected amendments to the Housing Fund Law No. 32 of 2011, the most important of which is allowing the construction loan applicant to purchase a housing unit within the investment complexes implemented in the country, in addition to maximizing the Fund’s resources, by investing part of its capital to cover administrative expenses. These amendments have been read first and second and will be implemented once approved.[/size]
[size=45]Edited by: Najm Sheikh Dagher[/size]
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