8 Steps to obtaining a mortgage from the Ministry of Housing for housing units in Saudi Arabia

Citizens who enjoy Saudi nationality can apply for a real estate loan from the Ministry of Housing and obtain support either in whole or in part.

Mortgage loan from the Ministry of Housing

The real estate loan from the Ministry of Housing is a cost-supported financing product in partnership with various financing agencies, which are Saudi banks approved by the Ministry.

And if the conditions for a real estate loan from the Ministry of Housing are available in the Saudi citizen’s application, then he has the right to apply and then obtain approval.

Steps to obtain a mortgage from the Ministry of Housing:

1- Login to the real estate advisor website . 

2- Go to login. 3- Find out what are the recommended financing agencies.

3- Communicate with those authorities.

Individuals who obtain a mortgage can inquire about the details of the amount allowed to be obtained, as any individual can calculate the amount through the following steps:

1- Log in to the Real Estate Development Fund through the electronic link . 

2- Choose citizen services.

3-   Choose the financing calculator.

4-   Write down the financing amount?

5- Enter the repayment period in years.

6- Write the monthly income. 

7- Write the financing period in months? 

8- Click on the account word after completing the entry of these previous data.

How to inquire about entitlement to housing support

 The Ministry indicated that it is possible to inquire about eligibility for housing subsidy and subsidized loan through the “Sakani” electronic platform, and please follow the following steps:-

1- Visit the "sakani" platform through the website

2- Enter the services link.

3- Then choose the maturity status.

4- Enter the ID number. 5- Choose a query.

 In another side, in February 2023, The Saudi Minister of Municipal, Rural Affairs and Housing, Majid Al-Hogail, announced a directive from Prince Muhammad bin Salman, the Saudi Crown Prince, to allocate lands of 100 million square meters for the city of Riyadh and some cities that witness a population density and a rise in real estate prices.

Saudi families benefiting from housing support

Al-Hogail said that the number of Saudi families benefiting from housing support during the past four years has reached about one and a half million, revealing that the percentage of ownership among Saudis has reached about 60 percent since the launch of the housing program until 2020, which means that the Kingdom's goal is close to being reached within its "Vision 2030", which is 70 percent.

Vision 2030

Al-Hogail indicated that real estate financing recorded record leaps, providing more than 300,000 annual mortgage loans since the launch of "Vision 2030", in the context of its endeavor to build a sustainable housing environment that is carried out through 4 main axes, including financing, supply support, development of legislation and services.

He indicated that the Saudi Real Estate Refinancing Company, owned by the Saudi Investment Fund, managed during the past two years to purchase portfolios worth more than 25 billion riyals ($6.6 billion), and that ambition by the end of this year focused on purchasing additional portfolios worth more than 45 billion ($12 billion). To contribute to pumping liquidity into the financing sector, ensuring the provision of products with a duration of up to 25 years, and facilitating citizens' access to loans.