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The Ministry of the Interior has disclosed details of the facilities available to military members wishing to own their first home under the housing program, which is part of the "Vision 2030" program.
The ministry explained, through a video clip, that if a soldier received the rank of soldier, the base salary was less than 14,000 riyals, he was worth a guaranteed mortgage for 500,000 riyals to 100 %, interest-free, and over 140,000 riyals. Additional good for the military, who make their loan to Hassan up to 640 000 riyals.
He explained that the army, if it was classified from colonel to team, was supported at a rate of 35% to 100% according to his salary, according to the number of members of his family for the loan of 500 000 riyals and an additional loan of $ 140,000, he was granted him in good interest-free loan.
He pointed out that the payment options are multiple for the beneficiaries of the housing program with regard to the repayment period of the loan, be it 10 years, 15 years, 20 years or 25 years, depending on their credit status, so that the payment of the sum of 500 000 riyals, 140 thousand riyals.
He pointed out that the proposed housing options are as follows: the recipient army, if it has land, can get a loan for construction, or buy a villa or apartment at the market, or choose a unit from the Ministry of Housing.
He explained that the beneficiary army, if it has a waiting period of the bank and that the bank benefits from it, benefits from the support, through the coverage of profits of 500 000 riyals by the State, in addition premium reduction.
He added that if the loan is borrowed in cash and the house is in his name during the fund 's holding period, he has to go to the bank to mortgage the house and benefit from the amount of the loan. mortgage, which amounts to 500 000 riyals, in order to benefit from the help, House to the heirs.
Housing Program Explains Facilities Available to Members Wishing to Own First Home
# Housing program One of the vision programs of the kingdom in the 2030 horizon. pic.twitter.com/6MxrgZaYt6– Ministry of the Interior (@MOISaudiArabia) March 3, 2019
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