House Extension Loan

House Extension Loan

Through the House Extension Scheme, HFC assist people to extend their houses with an additional in case of overcrowding problem

SKU: 123456 Category:
  1. Through the House Extension Scheme, HFC assists people to extend their houses, in case of overcrowding.
  2. Only one HES loan per household is allowed.
  3. Applicant must be over 18 years old.
  4. Applicant should be gainfully employed and earning less than SR30, 000.00 net per month (proof is required).
  5. Applicant should provide a guarantor and if applicant cannot provide sufficient proof of income then they will have to provide a co-applicant.
  6. The maximum loan amount is SR100, 000.00 at an interest of 10% (variable) and the maximum term on the loan is 5 years.
  7. The loan is disbursed by installment against pro-forma invoice and upon building inspectors certification.
  8. Applicant must have planning approval for the extension.
  9. Applicant should provide latest payslip, bank statement with at least 6 months’ transaction, ID card and proof of income if self-employed.