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The down-payment subsidy package is introduced by Real Estate Development Fund (REDF) aiming to facilitate home ownership by providing non-refundable financial subsidy of (SAR 100,000 or SAR 150,000).

Program features:

  • Competitive Profit Margin.
  • Cover the down-payment (fully or partially).
  • Non-refundable subsidy up to SAR 150,000 depending on beneficiary’s net income.
  • Applies for Ready Units and Off-Plan products.

Terms and Conditions:

  • Meeting eligibility criteria of REDF. 
  • The minimum age is 18 years and not to exceed 70 years at finance maturity.
  • The minimum net salary is SAR 5,000.
  • The beneficiary is eligible for one subsidy program only.
  • The beneficiary provides the remaining amount of the down payment in the event that the total down payment is higher than the subsidy amount (SAR 100,000 or SAR 150,000).
  • Beneficiary edibility criteria should comply with SAMA regulations.

Risks related to the mortgage product