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Citizen – Riyadh
The Housing Ministry announced Sunday the details of the support and loan initiative for civilians and retirees aged 50 and over (a good additional loan).
The new installment includes the additional loan to be repaid for a value of 140 thousand riyals, in addition to the basic mortgage worth 500 thousand riyals.
Definition of the initiative
Provide financial support (a good loan) to beneficiaries aged 50 and over to facilitate their first home ownership by supporting early payment of 20% of the value of the property up to a maximum of 140,000 riyals and loan payment once repayment of the basic loan made to the financing institution.
Criteria for acceptance in the program
1- The beneficiary must be aged 50 and over
2 – The beneficiary should be included in the lists included in the Real Estate Development Fund or the Ministry of Housing
3. Includes civilian and military retirees
Products available
– Ready units
– Units under construction
– Self-construction (coming soon)
Payment mechanism
Basic Mortgage Loan of 500,000 SR
The beneficiary starts paying the loan
140,000 additional loans
The beneficiary begins to repay the good loan after the completion of repayment of the principal loan.
For more details, please visit the following link:Right here)
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