Big relief for homebuyers as SECP expands PM Apna Ghar Program

ISLAMABAD: The federal government has expanded the scope of the Prime Minister Apna Ghar Program by allowing non-banking financial institutions to participate in the subsidised housing finance scheme, making home loans more accessible across Pakistan.

The Securities and Exchange Commission of Pakistan (SECP) has issued Circular No. 16 of 2026, relaxing participation rules for Housing Finance Companies (HFCs) and Non-Banking Microfinance Companies (NBMFCs) under the Prime Minister Apna Ghar Program.

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The move follows approval by the Economic Coordination Committee (ECC) of the Cabinet, subsequent ratification by the Federal Cabinet, and a notification issued by the Ministry of Housing and Works.

Under the new framework, Housing Finance Companies and Investment Finance Companies will be able to provide housing loans of up to Rs10 million, while Non-Banking Microfinance Companies can offer loans of up to Rs5 million under the scheme.

The SECP said the decision will significantly expand access to affordable housing finance, particularly for citizens who do not maintain bank accounts. It added that the extensive digital and outreach networks of non-banking financial companies would help extend housing finance services to remote and far-flung areas.

The regulator has also issued a dedicated regulatory framework enabling Lending Non-Banking Finance Companies to participate in the programme independently or in collaboration with banks and other financial institutions.

The Prime Minister Apna Ghar Program is a government-backed affordable housing finance initiative designed to help first-time homebuyers purchase or build their own homes.

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Under the scheme, eligible applicants can obtain housing finance of up to Rs10 million with a fixed subsidised markup rate of 5% for the first 10 years.

The financing tenure is up to 20 years, while borrowers are required to make a minimum 10% down payment, with participating financial institutions financing the remaining 90%.

The scheme covers the purchase of ready-built houses or apartments, construction on an already owned residential plot, or the purchase of a plot followed by construction.

Eligible properties include houses of up to 10 marlas (2,720 square feet) and apartments of up to 1,500 square feet.

To qualify, applicants must be Pakistani citizens holding a valid CNIC, be first-time homebuyers, and must not already own a residential property.

The minimum monthly income requirement is Rs25,000 for the primary applicant and Rs20,000 for co-applicants.

Self-employed applicants are also required to provide at least three years of business or professional income records.

Officials said the inclusion of non-banking financial institutions is expected to broaden the reach of the programme and improve access to affordable housing finance for low- and middle-income households across the country.