The Sakani Program of the Ministry of Municipalities and Housing, in cooperation with the Real Estate Development Fund, offers mortgage financing with specific conditions aimed at facilitating home ownership and ensuring the beneficiaries“ eligibility.

The program offers subsidized mortgage loans, which give beneficiaries interest-subsidized loans to buy and build their homes. <The program offers a subsidized mortgage loan, which gives beneficiaries interest-bearing mortgages to buy or build their homes. The Ministry bears part of the interest charged on the loans to ease the financial burden on citizens. It also offers ready-made unit products to citizens at affordable prices, which are financed through subsidized mortgages.

To obtain this financing provided by Housing Program, beneficiaries must adhere to the following conditions:

1. Nationality and residency:
   • The beneficiary must be of Saudi nationality.
   • Must be a permanent resident of the Kingdom.
2. Age and marital status:
   • Applicants must be 18 years of age or older.
   • The program includes married, widowed and divorced people.
3. Previous ownership:
   • The applicant must not have been the owner of a suitable dwelling within the last five years from the date of application.
4. Income:
   • The applicant's income must match the financing conditions specified by the bank or financial institution cooperating with the program.
   • Provide proof of monthly income such as salary certificate or bank statements.
5. Financial Obligations:
   • The beneficiary must have the ability to commit to making monthly mortgage payments according to the established schedule.
   • Pass a credit check which assesses the beneficiary's ability to repay the loan based on their credit history.
6. Required Documents:
   • Presentation of national ID card, birth certificate, proof of income (salary certificate or bank statement), family certificate (for married couples).
7. Registration and screening:
   • Register for the Sakani program via the website (sakani.sa) and submit an application for financing.
   • The program may require a real estate inspection of the housing unit to verify that it meets the specified criteria.
8. Banking Terms and Conditions:
   • Compliance with the terms and conditions imposed by the banks and financial institutions partnering in the program, which may include additional conditions that vary from bank to bank.

These conditions aim to facilitate citizens" access to mortgage financing and ownership of their own homes within a framework that ensures financial sustainability and commitment from both parties.

These conditions aim to facilitate citizens' access to mortgage financing and ownership of their own homes within a framework that ensures financial sustainability and commitment from both parties.