The Real Estate Development Fund announced today the early repayment program, which gives direct lending beneficiaries before 2017 a discount of up to 24% in case of early repayment of the entire mortgage loan or part of it, provided that the beneficiary is committed to repayment to benefit from the discount mechanism.

This program comes within Real Estate Development Fund's efforts to motivate and encourage direct lending beneficiaries who disbursed their mortgages before 2017.

This program comes within The Real Estate Fund to motivate and encourage direct lending beneficiaries who disbursed their mortgages before 2017 according to the old system; with the aim of reducing financial obligations, addressing debts and improving their credit records.

<In a press release today, the Real Estate Fund explained that the early repayment program applies to direct lending beneficiaries to pay the full value of the mortgage loan, or part of it, and not less than an annual installment, indicating that the program does not include those who have late installments, calling on all direct lending beneficiaries to take advantage of the program and apply for early repayment of the full loan or part of it through the electronic portal at the following link: https://portal.redf.gov.sa/service-details/advance-payment.

He explained that the program comes within the Fund's initiatives to ensure financial sustainability, which contributes to enhancing the culture of early repayment and improving efficiency in developing innovative financing programs and solutions that enable future generations to own a home.

It is noteworthy that the Real Estate Development Fund has dedicated an electronic service to receive beneficiaries' requests to benefit from the early repayment program, in addition to the unified number (920002354) to receive incoming requests and respond to inquiries from beneficiaries of the program.