Home Purchase Funding
Example:

A loan of up to 1.2 million QR granted to those eligible with reference to the issued letter from Department of Housing in the Ministry of Social Affairs.


Associated Fees and Profits: The loan incurs a fee of 210,500 QR only (total amount).
Monthly Installment: 3,365 QR (if drawing the full loan amount).
Collection of Installments: Upon receipt of the full amount by the property owner.
Property Grant: The customer is entitled to a property grant of 50,000 QR to be disbursed by the Ministry of Finance upon written request from the Department of Housing.


Eligibility Requirements:
  • The property on which the house is situated must not be smaller than permitted by the Ministry of Municipality & Urban Planning.
  • The size of the building must not be smaller than 329 m2.
  • The age of the building must not exceed 10 years from the date of the Completion of Construction certificate.


Required Documents:
  • Original land deed of property, and accompanying plans.
  • Guarantee from the bank in which the customer deposits his or her wages.
  • Copy of architectural drawings (A01) certified by Construction Planning.
  • Completion of Construction certificate..
  • Bank statement indicating the account number of the property owner.


In case of death:
  • Identification of Heirs.
  • Authorization by the persons whose names are listed in the Identification of Heirs of the applicant.
  • Death certificate.