The initiative was launched in partnership with banks and financing institutions, by granting them an additional good loan of up to 140,000 riyals, in addition to the subsidized real estate loan of up to 500,000 riyals.
The program revealed in its press statement yesterday, Sunday, the options offered by the program to the beneficiaries of the initiative registered in the lists of the Ministry of Housing and the Real Estate Development Fund, and include the purchase of prefabricated housing units from the market , Or purchase of residential units under construction within the Ministry's projects in partnership with the private sector.
The service is provided in partnership with 7 banks and financing institutions, which are (Al-Ahly, Riyadh, Al-Arabi and the country), in addition to financing companies: (Deutsche Gulf, Amlak International The House of Ownership Company).
The beneficiaries of the service will receive a subsidized mortgage of up to 500 thousand riyals. The program will bear the full benefits for those who have a monthly income of 14 thousand riyals and less, while others are supported including Not less than 35% of the benefits based on income and the number of family members, in addition to the good loan.
The program explained that it aims, through this initiative, to contribute to enabling the intended beneficiaries to obtain the subsidized real estate financing by providing an additional good loan with an advance payment of 20% of the value of The property, with a maximum limit of 140,000 riyals, will be paid after the full mortgage has been paid, bringing the total loan to a maximum of 640,000 riyals.
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