Program Description

A housing finance facility offered to customers wishing to purchase residential properties owned by Ejara Leasing Company

Target Segments

1. Employees of approved and non-approved companies, retirees, salary-transfer customers, and physicians.
2. Owners of establishments and companies, professionals, skilled workers, and self-employed individuals.
3. Jordanian expatriates.
4. Non-Jordanian residents in Jordan.

Interest Rate

6.50%

Key Benefits

1. Financing up to 100%.
2. Loan origination fee waiver.
3. Mortgage registration fee waiver.
4. Repayment period of up to 30 years.
5. The maximum Debt-Burden-ratio (DBR) is 60%.
6. Grace period of up to 6 months for the purchase of completed residential apartments.
7. Grace period of up to 12 months for construction on land/property owned by the customer.
8. For all applicable grace periods, monthly interest servicing is required.
9. Property release/deregistration fee waiver, as no such fees are applicable to customers in accordance with the decision of the Department of Lands and Survey.
10. No requirement for a new property valuation, provided that the date of the latest valuation does not exceed one year.

Terms & Conditions

• The customer’s age must be at least 21 years and must not exceed 70 years by the last installment.
• Minimum monthly income is JOD 1,000, except for Jordanian expatriates, for whom the minimum monthly income is JOD 1,500.
• The financed property must be among the properties owned by Ejara Leasing Company.
• The customer must have no Overdue.
• All other terms and conditions applicable to the Bank’s housing finance products shall apply.