2023-09-17 15:56:00
06:56 PM Sunday, September 17, 2023
Muhammad Abdel Nasser wrote:
Real estate financing in banks and finance companies is one of the most important solutions at the present time to obtain an apartment in installments with a down payment of up to 15% of the unit price.
A large number of banks, led by government banks, offer real estate financing loans, at an interest rate of 3% or 8%. One of the most important things that those seeking real estate financing are looking for are the required papers, whether for the applicant or the unit being financed, which are as follows:
First: the client’s papers:
A clear photocopy of the husband and wife’s valid national identification cards, and a recent accompanying receipt.
In the case of the Free Professions Program, a copy of the tax card and a copy of the license to practice the profession must be submitted.
In the case of the program for owners of commercial, industrial or service activities, a recent official extract from the commercial or industrial registry that is not more than 3 months old must be submitted, along with a copy of the tax card.
Documents required to obtain real estate financing for monthly income:
For workers in government agencies and private sector workers, a recent income certificate approved by the employer, three recent salary strips, or a bank statement showing the salary transfer are presented.
As for self-employed people and owners of commercial, industrial or service activities, a bank statement for the last 6 months is submitted, or a tax certificate showing the client’s income that he took as the basis for his tax treatment for the last three years.
Residential unit papers:
First: Residential units registered in the real estate register in the name of the seller as one of the parties to the real estate financing relationship (whether a natural or legal person)
– The registered contract is the seller’s title deed (for the financed residential unit or the land on which the residential unit is located)
– A certificate of the absence of violations or a certificate of completion of reconciliation, an exact copy of the building permit, and any other document required by the Legal Affairs Sector.
Second: Residential units built on lands allocated by the state or a public legal entity or located in new cities:
– Notice of allocation and primary sales contract issued by the administrative authority in favor of the seller, a report of receipt of the unit, and a true copy of the building permit.
A certificate of no violations, a certificate of completion of reconciliation, and any other document requested by the Legal Affairs Sector is also provided.
To know the conditions and how to apply for real estate financing, follow the following link:
Real estate financing.. Buy an apartment in installments over 25 years and 20% down payment
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