About the First Home Ownership Loan

Specifically designed for PNG nationals who are first-time homeowners for the purpose of constructing new home or the purchase of a newly built home or unit that is no more than 12 months old.”

Apply at a local branch

How to Apply

Apply In Branch

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What You’ll Need

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Types of Property to be purchased

The first home ownership loan is geared specifically for the following;

• Purchase of land and construction of a new house;
• Purchase of land and house packages which is not more than 6 months old,
• The property is to be only a single-dwelling house.
• This property is to be occupied by the owner/borrower and not to be used for commercial purposes.

Forms and Documents

Housing Loan Application Form

FHOL FAQs

Lending Rates

Product	Interest Rate	Structure	Application Fee
Home Loan	6.5% pa	Variable	K600
First Home Ownership Scheme	5.5% pa	Variable	K600
Personal Property Investment Loan	8.75% pa	Variable	K600

* Default rate is 5% pa in addition to the interest rate applied on overdue amount
** Interest is calculated on a reducing balance b, and based on a 365/366-day year
*** Insurance, valuation, and registration fees are third-party vendor charges and do not constitute costs charged by BSP.

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