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About the Program

  • The mortgage Loan Program is a financial aid residential program with an amount up to SAR 500,000 in conformity with the Islamic Sharia'a.


    How the mortgage loan program works?

    • The program is eligible to a beneficiary who obtained a mortgage from the participating banks and funding companies.
    • REDF provides a monthly subsidy that covers funding profits at a minimum rate of 35% and a maximum rate of 100%. And the amount is transferred to the beneficiary's account directly after the payment of the monthly installment due from financing agency.


    What are the most important advantages of the mortgage loan program?

    • To provide 100% support received by those who obtain a monthly income of up to SAR 14,000 (basic + housing allowance) after deducting the insurance, pensions,…etc. to apply "the principle of needy first" while the rate of support varies for those of the highest monthly income.
    • It is licensed by the lawful authorities at financing agencies.
    • The possibility of funding the legible beneficiary from the participating funding entities by receiving an amount exceeding SR 500,000.
    • To reduce the long waiting period for funding from 10 years to 5 years.
    • The possibility of benefiting from the reduced down payment service from 10 % to 5%.
    • The possibility of waiving the loan application to one of his relatives of the first degree.
    • A two years validity for the beneficiary to benefit from the program from the date of issuance of his/her funding number issue, if this specified period expires without benefiting from this number, he/she will be able to re-apply on the ISKAN portal to obtain one of its products.
    • Exemption and waiving funding and support in case of death or total disability.

    Options of Mortgage Loan Program:

    • Purchasing a ready-made housing unit

    • Self-construction

    • Purchasing a housing unit under construction

    • Funding by virtue of a mortgage

    • Supporting the existing funding