الخليج العربي

افضل بنك للتمويل العقاري في السعودية 2021 /1442

Many citizens in Saudi Arabia are looking for the best real estate finance bank in order to renovate the house or buy a new home, and many banks in the Kingdom offer real estate financing solutions with different terms and various payment systems, among which the person chooses the right bank for him and who provides the beneficiary with financing solutions that are commensurate with The property he wants to buy and his gross monthly income.

Best home finance bank

Various banks in the Kingdom of Saudi Arabia are racing to provide the best financing options for citizens in order to own their real estate, within the framework of the government’s encouragement for citizens to own real estate, and the citizen is confused about the best banks through which he can obtain a mortgage, and one of the most important advice is That can be provided to those wishing to obtain real estate financing:

  • He should be familiar with the financing programs offered by all banks before choosing the bank that deals with him.
  • It is recommended that you choose the bank that offers the beneficiary a payment plan that is in proportion to his monthly income.
  • The bank that accredits the bank in which the customer works is chosen.
  • Obtaining the loan is evaluated by the interest that it places for the beneficiaries, and it is recommended that you resort to the bank that calculates a fixed value for interest because the changing value leads to an increase in it every period.
  • It is recommended to check the benefit of exemption from payment after death, whether total or partial exemption is made, and choose what suits the borrower.
  • Dealing with the bank that supports the real estate financing in the place where the person wishes to obtain a property.

Real estate financing from Al Ahli Bank

The National Commercial Bank in the Kingdom of Saudi Arabia provides citizens with a real estate financing service in order to buy a house, whether for the first or second time, and the financing provided by the bank is characterized by being in conformity with the provisions of Islamic Sharia, and the financing reaches seven million Saudi riyals to buy the property to be acquired, whether it is an apartment or Villa, and there are a number of controls set by the bank to obtain real estate financing, namely:

  • The administrative fee for the loan represents 1% of the loan value or five thousand Saudi riyals, whichever is less.
  • In the case of obtaining financing for the first property, the financing value will be 90% of the property value.
  • In the event of obtaining financing for the second property, whether it is from the National Bank, a bank or other financing companies, the financing will be 70% of the property’s value.
  • The borrower can get real estate and personal financing at the same time.
  • It offers flexible financing options with a fixed profit margin.

Conditions for obtaining real estate financing from the National Bank

The National Commercial Bank has set a number of conditions that must be met before obtaining real estate financing, and the conditions are as follows: [1]

  • The applicant for funding must be at least twenty years old and no more than sixty years old.
  • It is a requirement that he be a Saudi citizen, so do not provide these loans to residents.
  • The applicant’s monthly income should not be less than three thousand Saudi riyals.
  • It is required that he be an employee in one of the sectors in the Kingdom, whether public or private.
  • The customer must submit an advance payment of the property’s value, and the value of this payment ranges from 10 to 30% of the total value of the property, depending on its type, credit status, and sector to which it belongs.
  • It is required that the borrower’s salary be transferred to the National Bank.
  • The age of the property must not exceed forty-five years at the end of the loan term.
  • The property is required to be vacant and ready for immediate housing.
  • The real estate must be in one of the cities within the scope of real estate financing for the National Bank.

Real estate financing from Al-Rajhi Bank

Al-Rajhi Bank provides customers with the possibility of obtaining real estate financing, either to buy an apartment or villa that is already ready for housing, or to buy a plot of land in order to build it for housing. , In addition to setting up payment facilities, in order to enable citizens to obtain real estate owned by them, and repayment periods reach twenty years, where the applicant can obtain a loan of 58 times the salary he receives at the time of obtaining the financing if the period is The repayment is 20 years, and if the repayment period is 30 years, you can get a loan of 82 times the salary. [2]

Home finance terms Al-Rajhi Bank

Al-Rajhi Bank has set a number of conditions in order to obtain real estate financing, and the applicant must fulfill these conditions to obtain the financing, and they are as follows:

  • It is required that the applicant be a holder of Saudi nationality and not be an expatriate to the Kingdom.
  • The salary of the applicant must not be less than 5,000 Saudi riyals, if he is a public sector worker, and his service period in the entity he works for must not be less than six months.
  • If the applicant is a worker in the private sector, his salary should not be less than seven thousand five hundred Saudi riyals, and his service period in the entity in which he works should not be less than a full year.
  • Customer must be between 21 and 60 years old.

Terms of mortgage backed Al Rajhi Bank

To obtain a mortgage loan supported by Al-Rajhi Bank in the government housing finance program, the applicant must fulfill a number of conditions, which are:

  • The applicant must be a Saudi citizen.
  • The applicant must be among those accepted into the Real Estate Development Fund program.
  • It is required that the salary be transferred to Al Rajhi Bank.
  • The maximum term specified for the entitlement of the subsidized financing, up to the value of 500,000 Saudi riyals, is thirty years from the date of obtaining the financing.
  • The financing that exceeds the financing provided by the Real Estate Development Fund must be paid up to 500 thousand Saudi riyals, within a maximum of thirty years.
  • The percentage of profits provided by the Real Estate Development Fund depends largely on the customer’s classification category, as well as on the extent of its compatibility with the categories and criteria that have been determined by the bank.
  • The ownership of the property is registered in the name of Al-Rajhi Bank until the customer pays all the dues for the financing, which include the capital and profits due for the entire financing period, and after completing the installments, the ownership of the property is transferred to the beneficiary.
  • The financing is done through a single contract that includes the monthly recovery of the subsidized profits, as well as the payment of monthly installments equal to the principal.
  • The minimum salary for an applicant to apply for subsidized financing should be 2000 Saudi riyals, and the salary for retirees should not be less than 1900 riyals.

Real estate financing from Riyad Bank

Riyad Bank offers citizens in the Kingdom of Saudi Arabia a number of financing solutions to own housing or residential land for the purpose of construction and works to provide support to Saudi citizens through various financing solutions. Among the options offered by the bank are: [3]

  • Buy a finished real estate ready to live immediately.
  • Buying an unfinished property and continuing its construction, or waiting for it to be completed.
  • Real Estate Owners Program: This program allows obtaining the property value in the form of money in exchange for assigning ownership to the bank and then repossessing it again through monthly installments.
  • Land Finance Program: It allows owning a plot of land prepared for construction, with different payment options depending on the financial ability of the customer.
  • Aqarak program and more: through which the bank provides the beneficiary with personal financing in addition to real estate financing, and this financing is characterized by being in compliance with the provisions of Islamic law.
  • Real estate finance program in cooperation with Aqar website: Through it, the bank offers many offers for those wishing to buy real estate that are displayed on the real estate website.

The bank also offers many real estate financing solutions in cooperation with the Real Estate Development Fund, which are:

  • Subsidized housing finance program for real estate owners for the restoration or completion of the property, whereby the property is mortgaged and sufficient funds are obtained for the restoration or construction, and then the monthly installments are paid and the property is restored.
  • Subsidized housing finance program and easy mortgage: through it, ownership of the property is obtained in cooperation with the Real Estate Development Fund for the beneficiaries of its housing programs.
  • Real estate financing program for retirees to own real estate.

Home finance terms Riyad Bank

Riyad Bank offers a large number of real estate financing solutions that suit all sectors in the Kingdom, and it also provides them with easy facilities to obtain these loans, and the bank has set a number of conditions for the beneficiaries, which differ from one financing program to another, but there are a number of general conditions that must be Available for the customer in order to obtain a real estate loan:

  • The applicant must be a Saudi national.
  • The minimum salary must be not less than 5,000 Saudi riyals in some financing programs, and not less than 3,000 in some other programs.
  • It is required to transfer the salary to Riyad Bank, and employees working in banks are excluded from this condition.
  • These loans are provided to workers in the private or public sector, or various banks.
  • An advance payment of the property value must be made with a minimum of 15% of its total value.
  • In the case of obtaining real estate financing for the purchase of a full house or villa, the age of the property in this case must not exceed forty-five years at the time of the last installment.
  • In the case of obtaining real estate financing in order to purchase an apartment, it must not be more than twenty years old at the time of calculating the last installment payment.

Real estate financing from Alinma Bank

Alinma Bank provides real estate financing in order to own a completed built property, and the financing is done with a murabaha system that complies with Islamic Sharia, and Alinma Bank financing offers a number of important benefits to borrowers, the most important of these advantages: [4]

  • In the event that the borrower dies before completing the bank installments, the heirs are exempt from payment.
  • The bank does not require the property to be located in a specific place, but rather, the property can be obtained in any region of the Kingdom.
  • The value of the financing reaches ten million Saudi riyals, and it provides payment facilities for up to thirty years.
  • An administration fee of 1% of the loan value is imposed on the financing, provided that the maximum administrative fee is five thousand Saudi riyals.
  • The bank gives the borrower the freedom to choose the type of property they want to own, whether it is a single apartment, a whole building, or a villa.
  • Funding is not available on land intended for construction.
  • It offers the advantage of mortgage financing, whereby the borrower obtains through this program the funds required for the restoration or completion of the building by mortgaging the property and transferring his ownership to the bank, and restoring the property again after paying the agreed installments.

Terms of real estate financing Alinma Bank

In order for people in the Kingdom of Saudi Arabia to obtain real estate financing provided by Alinma Bank, a number of conditions must be met, which are:

  • The loan applicant must be a Saudi citizen, so this program is not offered to expatriates.
  • Open an account with Alinma Bank.
  • Salary transfer to Alinma Bank.
  • The borrower must be a worker in one of the bodies approved by the bank.
  • It is required to submit a salary definition certified by the employer, provided that the period of service in the organization is clarified.
  • The property must be located within the urban boundary in any region of the Kingdom.
  • It is required that the property be completed construction, and that the basic services of water and electricity be available.
  • The quotation must be submitted to the bank.
  • It is required to submit a copy of the deed confirming the ownership of the property, as well as the personal data of the owner.
  • In the event that the applicant for funding is an agent of the owner, proof of the agency must be provided legally.

Real estate financing from Samba Bank

Samba Bank offers a number of financing programs for Saudi citizens in order to own their own residential units, whether owning apartments, villas, residential buildings, or plots of land intended for construction, and it also offers real estate financing programs in cooperation with the Ministry of Housing and the Real Estate Development Fund for beneficiaries of the real estate programs it provides It offers different repayment periods of up to twenty-five years, and the profit percentage varies according to the value of the funded property, the repayment period and the value of the monthly installment, and administrative expenses of 1% of the property value or a maximum of 5,000 pounds are calculated. [5]

Home finance terms Samba Bank

In order for a person in the Kingdom of Saudi Arabia to obtain a mortgage loan provided by Samba Bank, the applicant must fulfill a number of conditions, which are:

  • It is required that the applicant for the loan be a Saudi national.
  • The applicant must be at least 21 years old.
  • Funding is provided to workers in the public or private sectors alike, provided that the person’s service in the government or semi-government entity is not less than one month.
  • In the event that the applicant is a private sector worker, his workplace must be approved by the bank, and his work period should not be less than three months.
  • The monthly salary of the applicant should not be less than three thousand Saudi riyals.
  • The property to be acquired must not be disputed.
  • The property must not be inhabited.
  • The property must be no more than 25 years old.
  • In the case of financing for a residential land, its area should not exceed 1500 square meters, and it should not be mortgaged to any party.

And here we have come to the conclusion of the article; Through it, we got acquainted with the best real estate finance bank, and we also learned about the most important information about the various banks in Saudi Arabia and the conditions that they set for the mortgage finance system for citizens.

السابق
خريطة ذهنية فارغة للكتابة عليها
التالي
حكم وأمثال شعبيه وأقوال مأثوره