Andalucia Financing Products – Zero-Interest Housing Program

Financing

Financing up to 60%.

Registration Fees

To be shared by buyer and The Bank (subject to Bank’s terms and conditions)

Mortgage Fees

Covered by the Bank

Grant Commission

No commission applied

Payment Period

Up to 4 years (provided the age of customer does not exceed 70 at end of loan period)

Installments Scheduling

Periodic payments (quarterly, semi-annual or annual)

Debt-burden Ratio

60% of the buyer’s financial obligations

Andalucia Financing Products – Housing Loans with Interest

Financing & Interest Rates

·   Financing up to 90% of real estate value.

·   Jordan Dinar Interbank Offered Rate – Based on date of granting the loan.

Registration Fees

Covered  by buyer

Mortgage Fees

Covered  by the Bank

Grant Commission

No commission applied

Payment Period

Up to 30 years (provided the age of customer does not exceed 70 at end of loan period)

Grace Period

Up to one year

Debt-burden Ratio

60% of the buyer’s financial obligations

Andalucia Financing Products

Mortgage & Evaluation

·        First-rate mortgage on the financed villa.

·        Subject to Real Estate Committee approval (exemption on evaluations).

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)

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:

• JOD 1,000 for villa models 5, 6, and 7.
• JOD 2,000 for villa models 8, 9, and 10.