The Real Estate Development Fund the most frequently asked questions regarding the First-Time Homeownership Program, explaining how to benefit from housing support, the eligible groups, how installments are calculated, and the scope of projects covered by the program. In an infographic posted on its X account, the Fund clarified that the current offer is limited to eligible beneficiaries of housing support who have not previously received it and does not include those who have previously benefited from the support.
It emphasized that the monthly installment amount is not fixed for all projects, as it varies depending on the value of the housing unit after applying housing subsidies and applicable subsidies, noting that the lower monthly installment is due to the beneficiary receiving a down payment subsidy of up to 150,000 riyals, in addition to housing subsidies, and other subsidies available for all residential units under construction in National Housing Company (NHC) projects in eligible areas. The Fund clarified that all beneficiaries eligible for housing support, in accordance with the program’s regulations, can take advantage of the offer, while eligibility is verified through the Sakani platform before the home-ownership process begins.
It clarified that the monthly installment is calculated after applying housing subsidies and other applicable subsidies to the value of the residential unit, noting that the applicable financing rate starts at a reduced profit margin of 3.75% in partnership with the Saudi National Bank. He noted that the offer includes residential units currently under construction in the Central, Eastern, and Western regions as part of the National Housing Company (NHC) projects, while it does not include the self-build program, as it is limited to residential units currently under construction. The Fund also clarified that the program covers public and private sector employees who are eligible for housing support in accordance with the program’s regulations.
Regarding the procedures for enrolling in the program, the Fund urged interested parties to contact the NHC Sales Center at 920033499 to view suitable projects and housing units, then reserve a housing unit and complete the financing and ownership procedures. It noted that housing support is a non-refundable amount provided to the beneficiary, while financing refers to the amount paid in installments to the financing entity.
