Housing and Mortgage Loans

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

Buying houses and apartments.
Construction for residential purposes.
Finishing an existing house.
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 400 for public and private sectors, JOD 600 for joints borrowers, JOD 1000 for professionals and self-employed and JOD 3000 for Jordanian non-residents.
Minimum length of service should not be less than 6 months for public and private sectors, 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 for construction or ownership.

Benefits

Program A:

Loan tenor is up to 96 months.
Loan amount is up to JOD 500,000.
Financing up to 80% of the estimated property value .

Program B:

Loan tenor is up to 96 months.
Loan amount is up to JOD 250,000.
Financing up to 80% of the estimated property 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 400 for public and private sectors, JOD 600 for joints borrowers, JOD 1000 for professionals and self-employed and JOD 3000 for Jordanian non-residents.
Minimum age for the applicant should not be less than 21 years old.
Maximum age of the applicant at loan maturity is 70 years old.
The mortgaged property can be owned by the borrower or his / her spouse / father / mother / sister / brother/ son / daughter (Terms & Conditions Apply).
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