FAQ

Q

What should I provide to apply for home financing facility?

A

In order to obtain home financing facility you must provide the following documents: Proof of monthly salary, Letter from the employer, Bank statement, Copy of the property deed and building area, National ID card, Residential and work address.

Q

How is the customer considered qualified for SHL financing?

A

Four factors determine if the client is eligible for financing with SHL: current income, total customer obligations, credit score, and home finance installments.

Q

What is meant by “Shariah compliant products”?

A

SHL products have been developed in close cooperation with the Shariah Supervisory Board and have been officially approved as Shariah compliant. The Shariah Board is actively involved in the development and supervision of the Company's products to ensure full compliance with Islamic Shariah principles.

Q

What is the minimum monthly income to get finance?

A

The minimum monthly income to get finance is 5000 SAR

Q

What if I have an extra income other than salary? Can it be considered as a minimum requirement?

A

We only consider salary credited in to the purchaser account or income of the property.

Q

Can a member of my family help me to get financial funding?

A

Yes, any request from the wife, father, son, brother, or sister is considered.

Q

Does SHL finance the purchase of land?

A

Yes, we finance for the purchase of land, apartments, or any individual real estate.

Q

How long can I extend financing for?

A

Up to 30 years.

Q

What is the maximum percentage of my salary that can be burdened against financing?

A

Up to 65% of your income.

Q

How much is the down payment?

A

10% for the first home byer and 15% for the 2nd or more.

Q

Does SHL finance the purchase of land?

A

Yes, we finance for the purchase of land, apartments, or any individual real estate.

Saudi Home Loans
kingdom of Saudi Arabia 

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Awards

Arabian Enterprise Awards 2018

Arabian Enterprise Awards 2018

Best New Investment Product 2017

Best New Investment Product 2017

KSA Product Award 2017

KSA Product Award 2017

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