Housing and Mortgage Loans

Loans granted to individuals working in the public and private sectors, professional, self-employed and expatriates for the following purposes:

• Buying houses and apartments
  
• Construction for residential purposes.
  
• Housing loan buy out from other banks.

Benefits

• Loan tenor is up to 30 ​years.
• Financing purchasing or building of houses is up to JOD one million​.
• Financing purchasing of houses in compounds is up to JOD 450000.
• Loan financing is up to 100%.
• Free card issuance fee for the first year.
• Life, total disability and mortgage insurance.
• Competitive interest rates.

Conditions

• Applicants to be fully eligible with a good reputation and track record.
• Applicants not to be blacklisted
• Applicants not to have any past dues related to previous loans at time of lending.
  
• Clean repayment history.
  
• Applicants need to apply for a loan directly through the bank's branches or the sales team.
• Minimum monthly income should not be less than JOD 300 for public sector, JOD 400 for private sector, JOD 600 for joints borrowers, JOD 1000 for professionals and self-employed and JOD 3000 – JOD 3500 for Jordanian expatriates (Depends on the country and the loan amount).
• ​Minimum length of service should not be less than 6 months for public sector, 12 months for private sector, 3 years for professionals and self-employed, 6 months for Jordanian expatriates with previous experience of minimum 1 year is proven.​
  
• Minimum age for the applicant should not be less than 21 years old.
• Maximum age of the applicant at loan maturity is 75 years old.
• The property remains mortgaged for the benefit of the bank until the end of loan period
• ​One-time processing fee (1% of the loan amount).
• Early settlement fee of 1% of the settled amount in case the remaining payments are more than 12 payments.

Required Documents

• Photocopy of valid ID.
• 6 months’ bank statements.
• Property/Mortgage appraisal from accredited agencies to the bank, and two appraisals are required if the loan is > than 100,000
• Property initial selling contract
• Housing loan application completed and signed by the customer
• Cash flow statement and financial declaration for professionals

• Program A: Personal loan purposes against mortgage Or maintenance / expansion of an existing house.​
  
• Program B: Buying lands

Benefits

• Loan tenor is up to 96 months.
• Loan amount is up to JOD 100,000.
• Financing up to 80% of the estimated property value, and up to 50% of the estimated land value.

• Loan tenor is up to 96 months.
• Loan amount is up to JOD 250,000.
• Financing up to 80% of the estimated land value.

Conditions

• Applicants to be fully eligible with a good reputation and track record.
• Applicants not to be blacklisted.
• Applicants not to have any past dues related to previous loans at time of lending.​
  
• Clean repayment history.
  
• ​Applicants need to apply for a loan directly through the bank's branches or the sales team.
• Minimum monthly income should not be less than JOD 300 for public sector, JOD 400 for private sector, JOD 600 for joints borrowers, JOD 1000 for professionals and self-employed and JOD 3000 – JOD 3500 for Jordanian expatriates (Depends on the country and the loan amount).
• The property is first degree mortgaged for the benefit of the bank and should be owned by the borrower or spouse (husband / wife).
• ​​One-time processing fee (1% of the loan amount).
• Early settlement fee of 1% of the settled amount in case the remaining payments are more than 12 payments.

Required Documents

• Photocopy of valid ID.
• 6 months’ bank statements.
• Property/Mortgage appraisal from accredited agencies to the bank, and two appraisals are required if the loan is > than 100,000
• Mortgage initial selling contract in program B
• Mortgage loan application completed and signed by the customer
• Cash flow statement and financial declaration for professionals​
  ​