HFC assist people with loans for the purchasing of land either from the Government's Land Bank or private market.
HFC finance up to SR150,000 only for the purchase of private land.
Applicant should be gainfully employed and earning less than SR30,000 per month (proof is required).
The interest rate is 7% (variable) for the full amount of the loan.
Monthly repayment installment should not exceed 40% of net income.
The loan is secured by means of a first line charge on the purchased land.
The maximum repayment term of the loan is 6 years.
Stamp duty and registration for the transfer of land should be paid by the applicant.
The land to be purchased is to be used for construction of private dwelling only.
A processing fee of 0.75% of the loan amount is charged at the time of interview for the loan.