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Andalucia Financing Products – Housing Loans with Interest |
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Financing & Interest Rates |
Financing up to 90% of real estate value. Jordan Dinar Interbank Offered Rate – Based on date of granting the loan. |
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Registration Fees |
Covered by buyer |
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Mortgage Fees |
Covered by the Bank |
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Grant Commission |
No commission applied |
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Payment Period |
Up to 30 years (provided the age of customer does not exceed 70 at end of loan period) |
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Grace Period |
Up to one year |
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Debt-burden Ratio |
60% of the buyer’s financial obligations |
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Andalucia Financing Products – Zero-Interest Housing Program |
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Financing |
Financing up to 60%. |
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Registration Fees |
To be shared by buyer and The Bank (subject to Bank’s terms and conditions) |
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Mortgage Fees |
Covered by the Bank |
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Grant Commission |
No commission applied |
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Payment Period |
Up to 4 years (provided the age of customer does not exceed 70 at end of loan period) |
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Installments Scheduling |
Periodic payments (quarterly, semi-annual or annual) |
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Debt-burden Ratio |
60% of the buyer’s financial obligations |
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Andalucia Financing Products |
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Mortgage & Evaluation |
First-rate mortgage on the financed villa. Subject to Real Estate Committee approval (exemption on evaluations). |
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Installments Scheduling |
Acceptance of Balloon Payments (Source clarified at the time of submission). Zero-Interest Housing Program to be converted to Housing Loan with interest if an installment is overdue for over 90 days (buyer to sign acknowledgment declaration at grant) |
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Additional Incentives |
Exemption on early repayment commissions. Issuance of Mastercard World credit card (issuance and renewal commissions exempted). Personal loans at 8.25% interest (exemption on grant commission, with consideration of the client’s debt-burden ratio). Issuance of prepaid cards with the following values:
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