During the past two days, the news carried the completion of the Saudi Arabian Monetary Agency's measures on the “Easy Mortgage” program for residential mortgage financing for a category of citizens with the Ministry of Finance and the Ministry of Housing, and the most important features of the decision stand out in the following:

1- The beneficiary provides a down payment of 15% of the value of the residential property.

2- Commercial banks wishing to finance the property pay 70% of its value in exchange for mortgaging the dwelling according to the mortgage system.

3. 3- The bank provides an additional 15% financing in exchange for a guarantee from the Ministry of Finance.

3. In light of this, the bank will have financed 85% of the value of the property while the citizen will pay 15% in advance.

The SAMA statement said that it looks forward to the continuation of this cooperation between the Ministries of Finance and Housing and the completion of the statutory procedures and the development of the details of this program, bilateral agreements and bank contract forms for the “Easy Mortgage” program in order to achieve the effective implementation of this product and preserve the rights of all parties.

The decision will certainly affect the process of moving the stagnation to a certain extent because the citizen's provision of the 30% payment was difficult and frustrated the hopes of many due to the limited resources of the citizen, which weakened the demand for this product, and it seems that the dream of owning a home began to dream of the “concerned group” through the “Easy Mortgage” program; taking into account the provision of “half the value” required in advance.