land  loans

  • 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.