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Housing Loans

Max Loan Value 250,000 JOD or equivalent in USD

Assist to construct, purchase or complete proper housing or purchase a land (organized for housing)

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Targeted Segments

  • Staff of Public Sector
  • Staff of Private Sector
  • Staff of working banks in Palestine
  • Staff of Housing Bank & its branches in Palestine
  • Civil and military retirees
  • Professionals & Craftspeople
  • Employers
  • Clients from Deposit owners’ Segment   

Product Purposes

  • Meet needs of clients within the targeted segment
  • Expand client base by polarizing new clients
  • Increase the marketing share of housing loans
  • Diversify the basket of products available to clients
  • Realize additional proceeds under acceptable risk

Privelleges

  • Diminishing Interest Rate
  • Free life insurance for borrowers

Special Standards and Determinants for Housing Loans Product

  • Loan Currency Dinar, Dollar 
  • Max Loan Value 250,000 JOD or equivalent in USD 
  • Financing Rate Max 85%
  • Max Loan Tenure, including grace period 25 years 
  • Min Repayment Period One Year
  • Min Age of Borrowers 18 years old 
  • Max Age of Borrowers 70 years old at value date of last installment 
  • Repayment Basis Monthly 
  • Grace Period Max 6 months (calculated within the total period of repayment) 
  • Collaterals As the case may be and under the Bank credit policy in addition to mortgage 

General Conditions

  • Registration Deed / Construction Permit & Layouts / ID Documents / Land Scheme / Organizational Site Plan
  • Initial sale contract, in case of purchase
  • Certificate of salaries for borrowers and proof of income documents for self-employed 
  • No more than 50% of the borrower’s total direct monthly deductions and no more than 100% of net income of his/her direct and indirect obligations. Loans are provided under the ceilings approved by the Bank.   
  • Financing rate of real estate collaterals up to max 85% of the estimated value or sale contract whichever less subject to client’s risk level is as listed on the credit information system of PMA.
  • The max financing rate to elf-employed is 75%.


How to apply?

  • Fill the Electronic Application
  • Contact us the toll-free number 080022111
  • Visit the nearest branch

*All applications are subject to Housing Bank terms and conditions.

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*The applicable interest rate on the calculator is the lowest rate within the product segments.

*The interest rate depends on the income amount, source of income, financing ratios, and customer’s classification. 

*The information mentioned above Is for illustrative purposes only and shall not be considered final. for more information, Please Contact 02-2945500, or visit your nearest branch.

*For more information regarding the available interest rate and classifications in the Bank, please click here.

Required Documentation


Staff Segment

  • Valid ID of the client (Identity Card)
  • Recent Bank Statement for the last six months
  • Recent salary certificate for the last month, which demonstrates all particulars of client’s salary and any due deductions or salary slip for staff of working banks in Palestine.
  • Acknowledgement Letter to transfer the salary and continue transfer the salary to the Bank as well as any other benefits for the employee, if salary transfer is conditioned.
  • Document any additional income approved for income calculation

Segment of Professionals (Physician, Engineer, Pharmacist, Auditor)

  • Valid ID of the client (Identity Card)
  • Recent Bank Statement for the last six months
  • Practicing Profession Certificate, copy of valid association membership card, copy of tenancy contract or ownership deed of the place of business

Segment of Employers

  • Valid ID of the client (Identity Card)
  • Recent Bank Statement for the last six months
  • Recent registration certificate of not more than six months, valid professional license
  • In case of no recent bank statement for the last six months that proves the client’s income, a field visit will take place to client’s stores to verify his/her monthly income

 

Own Your Home!

Easy approval conditions and competitive interest rates

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