• Financing amount up to SR (8,000,000).
• Financing up to 90% of the property value*.
• Tenure up to 25 years.
• Competitive rate**.
• Considering all sources of income.
• Debt Burden Ratio up to 70%.
• Takaful insurance to waive the outstanding balance in case of death or disability (God forbid).
• Free of charge property insurance against fire and natural disasters throughout the financing period.
• The minimum income can be reduced “if match the conditions” as follows:
  • For ready-units:
    • SAR 3,000 minimum income (salary transferred).
  • For self-construction / off plan:
    • Minimum income (salary transferred): SR 3,000.

* Financing up to 95% if eligible for the Down Payment Reduction program.

* APR starts from 5.19%.

* Administration and evaluation fees are 1% of the total amount of funding or up to SR 5,000 and subject to 15% Value Added Tax (VAT).

All the fees are subjected to 15% Value Added Tax (VAT)

For Examples of declaration tables click here

Subsidize up to 100% in paying profit of mortgage finance SAR 500,000 maximum. 

• Saudi national.
• Applicant does not own an existing house, and the mortgage finance demand for first residential house.
• Have approval of MOH/REDF.
• Good credit history
• Minimum applicant age is 18, and does not exceed 70 years at maturity.
• Work service for at least 6 months for private sector employees, 3 months for semi-governmental sector employees, and without a minimum service for government and military.

• Ready unit (Vila “separate / duplex”, apartment), or Off-Plan sale.
• Registered property with an independent title deed.
• Property located within a residential area.
• Property age does not exceed 20 years at the beginning of the mortgage financing and 40 years at finance maturity.
• Property is vacant and ready for housing.

• Copy of valid national ID card.
• Salary Certificate (the validity is one month), certified by Chamber of Commerce (if salary is not transferred).
• Salary transfer letter (for salary transferred).
• A bank account statement for the last 3 months of the salaries deposit (for the employee), or bank account statement for the last 6 months (for self-employment).
• A confirmation letter from employer to validate salary amount in case of difference between Salary Certificate and Bank Account Statement.
• Financial Statements for last two years (for self-employment).
• Social insurance certificate (in the case of employer not enrolled in the bank).
• Copy of the Commercial Register (for self-employment).

• Copy of the company's Commercial Register or national ID of the property owner is.
• Copy of the title deed
• Sketch showing the property location and its basic info, the name and address of current owner.
• Municipality permit (construction permit).
• The house price quotation catered by the owner.
• Property electricity bill (issued within last 3 months)