Build a Home Loan
Customers seeking to construct new homes, extensions, renovations, upgrading, fencing, driveways, retainer walls and any other improvements to the property above $4000 can apply under this scheme.

The Authority has one of the best construction loans available in the market where we have everything in house.

Starting from calculating loan eligibility, drawing up of plans and assisting in approval. Loans assessment, Approvals & Conveyancing, arranging deposits from FNPF.

We allow building through contractors and self build, which becomes cost effective to the clients. This is the major advantage Housing Authority has as other lenders do not allow clients to self build.

We prepare building contracts if a contractor is involved.

We manage the release of funds through progress payments and continuous inspection of the construction until completion.

Terms and Conditions.
Client has to own a piece of land with title.
Interest rate of 4.45% fixed for two years and 7.99% thereafter. For existing customers 7.99% continues.
Loan term of 30 years depending on the age. Client has to be 21 years or over.
Deposit of 10% for salary deduction clients and 30% for cash paying clients. If client has paid off land, it can be 100% finance provided total loan is less than 80% of the proposed value.
Total commitment of 35% of gross salary for income less than $25,000 per annum and 40% above $25,000.

Requirements.
Approved Plan
If self build - letter stating for self build.
Three quotations on general contract.
Certified true copy of title.
Pay slips / Statutory Declaration (Self employed)/ Income Statements / Cash flows / three years audited financial report.
Marriage or Birth certificates.
FNPF Housing eligibility statement if arranging deposit from FNPF.
FNPF Card / Passport / ID Cards.
Bank Statement for at least 6 months.
Statement of any village loan from FNPF
Application fee $27.50.