House Extension scheme
Through the House Extension Scheme, HFC assist people to extend their houses in case of overcrowding problem.
Only one HES loan per household is allowed.
Applicant should be gainfully employed and earning less than SR30,000 per month (proof is required).
Applicant should provide a guarantor and if applicant cannot provide sufficient proof of income then they will have to provide a co-applicant.
The maximum loan amount is SR100,000 at an interest of 10% variable and the maximum term on the loan is 5 years.
The loan is disbursed by installment against pro-forma invoice and upon building inspectors certification.
Applicant must have planning approval for the extension.
Applicant should provide latest payslip, bank statement with at least 6 months transaction, ID card and proof of income if self-employed.