Title: Iran Launches Major Housing Initiative to Support Low-Income Families
Introduction: A Lifeline for Aspiring Homeowners
In the face of rising living costs, securing safe and adequate housing has become a significant challenge for many. In a decisive move to address this, the Islamic Revolution Housing Foundation, in cooperation with several major national institutions, is rolling out a substantial non-repayable loan program. This initiative is specifically designed to empower low-income households and transform the dream of homeownership into a tangible reality.
Eligibility and Partnership
This targeted financial support is extended to the nation’s most vulnerable, focusing on the first to third income deciles. The program is a collaborative effort, administered through esteemed bodies such as the Foundation of the Oppressed, the Imam’s Executive Headquarters, the Imam Khomeini Relief Committee, and the State Welfare Organization. By covering the required personal equity for construction, the program ensures that no eligible family is excluded from this essential support due to financial constraints.
Key Features of the 250 Million Toman Grant
The cornerstone of this initiative is a non-repayable grant of up to 250 million tomans. Its defining characteristic is that, unlike a standard bank loan, it does not require repayment. To guarantee that funds are used exclusively for their intended purpose, the grant is disbursed directly to the project’s contractor or builder in staged payments, not to the individual applicant.
A Structured Disbursement Process
The payment process is carefully structured to align with construction milestones:
- The first installment is released following the issuance of a construction permit and the commencement of the foundation work.
- The second payment is made during the structural phase, which includes the erection of the frame or the roofing.
This method ensures rigorous financial oversight and relieves the beneficiary from the burden of managing large payments.
Streamlined Registration and Application
Prospective applicants are not required to navigate a separate registration system. The process is integrated and straightforward:
- Submit a request through the local Housing Foundation office.
- Undergo an income-level assessment.
- Receive a site visit to evaluate the land or unfinished property.
- Be introduced to a partner bank for any complementary financing.
- Receive the staged non-repayable grant and any bank facilities directly through the project.
This comprehensive housing strategy underscores a continued commitment to social welfare and economic justice, providing a critical safety net and fostering stability for families across the nation.