Economy News – Baghdad
The Ministry of Construction, Housing, and Public Municipalities has detailed the mechanism for assessing points and preferences for individuals applying for housing loans.
The approved framework for calculating points for housing loan applicants is as follows:
Construction location will be a significant factor in the scoring system: constructions situated outside the provincial center will receive 20 points, whereas those within the governorate boundaries will be assigned 15 points. Additionally, points will vary based on the type of construction: new constructions will garner 20 points, while demolishing and rebuilding will receive 15 points, and adding to existing structures will earn 10 points. Age is another determinant in the scoring process, with the following points allocation:
- 51 years and older: 12 points
- 31 to 50 years: 10 points
- 18 to 30 years: 7 points
Furthermore, marital status will influence point assignments where married, widowed, and divorced individuals will each earn 15 points, while single applicants will receive 10 points. Points are also allocated based on the number of children under the age of 18. The scoring system accounts for individuals with disabilities, granting 10 points for a disability rate of 50% or more, and 7 points if the disability rate is below 50%.
The comparison system also includes evaluating any prior benefits from loans received by the applicant or their spouse.
The housing fund recently announced the commencement of housing loan applications through the Ur electronic platform, following a schedule that covers Baghdad and all other provinces, with the exception of those in the Kurdistan region.
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