Features
Type
Showing 10 of 80 mortgages
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Home and Liquidity Finance
Saudi Awwal Bank
Two-in-One
APR3.29% - 6.58%
Max AmountSAR 7,000,000
Max Tenure30 years
Max LTV90%
Home Finance
Meem Digital Banking
Ready UnitGov. Supported
APR4.68%
Max AmountSAR 5,000,000
Max Tenure35 years
Max LTV90%
Readymade Property Finance
Banque Saudi Fransi
Ready UnitGov. Supported
APR4.86% - 7.62%
Max AmountSAR 5,000,000
Max Tenure25 years
Max LTV90%
Land Finance
Banque Saudi Fransi
Land Purchase
APR4.86% - 7.62%
Max AmountSAR 5,000,000
Max Tenure25 years
Incomplete Property Finance
Banque Saudi Fransi
Self-Construction
APR4.86% - 7.62%
Max AmountSAR 5,000,000
Max Tenure25 years
Off-Plan Finance
Banque Saudi Fransi
Off-PlanGov. Supported
APR4.86% - 7.62%
Max AmountSAR 5,000,000
Max Tenure25 years
Mortgage (Home Equity)
Banque Saudi Fransi
Equity ReleaseGov. Supported
APR4.86% - 7.62%
Max AmountSAR 5,000,000
Max Tenure25 years
Ria'ayah Home Finance
Banque Saudi Fransi
SubsidizedGov. Supported
APR4.86% - 7.62%
Max AmountSAR 5,000,000
Max Tenure25 years
Buyout Home Loan
Banque Saudi Fransi
Refinance
APR4.86% - 7.62%
Max AmountSAR 5,000,000
Max Tenure25 years
Advance Subsidy Finance
Banque Saudi Fransi
SubsidizedGov. Supported
APR4.86% - 7.62%
Max AmountSAR 5,000,000
Max Tenure25 years
Showing 1-10 of 80
Your Complete Guide to Mortgages in Saudi Arabia
Everything you need to know about home finance from Saudi banks
What is a Mortgage in Saudi Arabia?
A mortgage is long-term financing granted by the bank to purchase or build a residential property, repaid in monthly installments typically spanning 25 to 30 years. All Saudi banks offer Sharia-compliant home finance using Murabaha or Tawarruq structures — the bank purchases the property and sells it to you at a disclosed profit, with the property remaining pledged until full repayment.
Home finance is regulated by the Saudi Central Bank (SAMA), which sets down payment ratios, Annual Percentage Rate (APR) disclosure, and debt burden limits. Saudi Vision 2030 targets 70% homeownership, which has driven a major expansion in mortgage options and government subsidy programs.
Down Payment and Loan-to-Value (LTV) Ratios
SAMA caps the loan-to-value ratio for a first home at 90% — meaning a minimum 10% down payment of the property value. For a second or investment property, the maximum is 70% financing with a 30% down payment. The down payment can come from personal savings or from subsidy support through the Sakani/REDF program.
Some products like equity release offer lower LTV ratios ranging from 46% to 80%, using your existing property as collateral to obtain cash liquidity. Land purchase financing typically covers 70-80% of the land value.
Types of Mortgages Available
Saudi banks offer multiple mortgage types. Ready unit financing is the most common — for purchasing a completed apartment or villa. Off-plan financing covers properties under construction, often at favorable terms. Self-construction financing lets you build on your own land — funds are disbursed in stages as construction progresses.
Other types include: refinancing to transfer your existing mortgage to another bank at better terms, two-in-one financing that combines land purchase and construction in a single contract, and equity release to obtain cash by pledging your owned property. Land purchase financing is also available for those planning to build in the future.
Sakani Program and REDF Support
The Real Estate Development Fund (REDF) through the Sakani platform provides housing support for Saudi citizens including: profit subsidy (the fund covers all or part of the financing profit), and down payment support. Supported products are available at most banks and feature lower profit rates thanks to the fund absorbing part of the cost.
To benefit from the subsidy, you must register on the Sakani platform and qualify based on income and family status criteria. You can apply for supported financing directly through the bank after obtaining your eligibility certificate. Some banks offer products specifically designed for Sakani beneficiaries such as guaranteed and advance subsidy financing, with repayment periods up to 25 or 30 years.
Costs and Fees
Mortgage costs include: admin fees typically at 1% of the financing amount capped at SAR 5,750 (inclusive of 15% VAT). Property valuation fees vary between banks and are often included in the admin fee. Takaful insurance on life and property is required by most banks to protect the financing.
When comparing, focus on the APR which includes all costs — profit margin, fees, and insurance. Early settlement fees typically equal 3 months of profit on the remaining balance. All fees displayed on Bankkie include 15% VAT to make comparing different offers straightforward.
Eligibility and Application Tips
To qualify for a mortgage, most banks require: a minimum salary starting from SAR 4,000, salary transfer, and a clean SIMAH credit report. The 65% DBR rule applies — your total monthly installments (mortgage + personal loans + car finance + credit cards) cannot exceed 65% of your salary.
Tips to improve approval chances: pay off as much existing debt as possible to improve your DBR, ensure your SIMAH report is clean before applying, and prepare property and income documents in advance. Residents (non-Saudis) can obtain mortgage financing with special conditions that typically include higher salary requirements and lower LTV ratios. Compare all offers on Bankkie to find the right mortgage.
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Frequently Asked Questions
Answers to common questions about mortgages
💰What down payment is required for a mortgage in Saudi Arabia?
SAMA sets minimum down payments: 10% for your first home and 30% for a second or investment property. Some banks offer lower down payments through the Sakani (REDF) program. The Loan-to-Value (LTV) ratio reaches up to 90% for first homes and 70% for second properties.
🕌What's the difference between Murabaha and Ijara mortgages?
Murabaha: the bank buys the property and sells it to you at a disclosed profit — ownership transfers to you immediately. Ijara Muntahia Bittamleek: the bank buys the property and leases it to you until full payment, then ownership transfers. Murabaha is more common in Saudi Arabia, while Ijara may suit those wanting more payment flexibility.
🏠What is the Sakani (REDF) housing program and how does it help?
Sakani is a government program by the Real Estate Development Fund (REDF) that supports first-home ownership for Saudi citizens. It offers profit subsidies on mortgages up to 100% based on income, with a supported financing cap. You can apply through the Sakani platform (sakani.sa), qualify for the subsidy, then choose a bank on Bankkie for the best offer.
📅What is the maximum mortgage term?
Mortgage terms extend up to 25–30 years depending on the bank and property type. Longer terms mean lower monthly payments but higher total cost. Some banks set a maximum borrower age at maturity (typically 60–70 years).
⚖️What is the DBR limit for mortgages?
SAMA applies the 65% DBR rule to mortgages: your total monthly installments (mortgage + personal loans + auto finance + cards) must not exceed 65% of your salary. This determines your maximum mortgage amount based on existing commitments.
🏗️Can I finance an off-plan (under-construction) property?
Yes, several Saudi banks offer financing for off-plan properties registered with Wafi (the regulatory authority). Financing is disbursed in stages based on construction progress, and the down payment may be lower. Verify the project is registered on the Wafi platform before applying.
🧾What are the admin fees and additional costs?
Additional costs include: admin fees (typically 1% capped at SAR 5,750 including VAT), property valuation fees, Takaful life and property insurance, and ownership transfer fees. All fees are included in the APR calculation that SAMA requires banks to disclose.
🔄Can I refinance my existing mortgage?
Yes, mortgage refinancing is available and can lower your monthly payment if profit rates have decreased. You'll need a new property valuation and SIMAH check. Compare refinancing offers on Bankkie — some banks offer special transfer deals that cover early settlement fees.
📊What's the difference between fixed and variable profit rates?
A fixed rate stays constant throughout the financing term, giving you a predictable monthly payment. A variable rate is linked to SAIBOR and may rise or fall. Most Saudi banks offer a fixed rate for the initial years, then switch to a variable rate.
🌍Can non-Saudis buy property in Saudi Arabia?
Residents can obtain mortgage financing with specific conditions: valid Iqama, salary transfer, and higher minimum salary. Foreign property ownership is subject to area-specific regulations — Mecca and Medina have special rules. Some banks offer mortgages tailored for residents with different LTV ratios.