Best Housing Loans for Jordanian Expats

May 20, 2021 by AmwalCom

Did you know there are around 1 million Jordanians living abroad? If you are one of these, you must have needed to use the banking services in Jordan for online transfers or financing.

For example, you might be interested in buying a house to stay in when visiting Jordan or probably buy a house to rent out for investment purposes. Below we present the top housing loans for expats in Jordan for May 2021:

1- Al-Rajhi Bank:

• Rate: 5.75% flat for the first year
• Min. Salary: 2500 JDs for Gulf countries, the United States (USA) and Canada
  
• Financing up to 70% of the house amount
  
• Financing Period: Up to 15 years
  
• Work Period: Not less than 3 years
  
• No mortgage fees
  
• Debt Burden Ratio (DBR): 50% of the salary
  

2- Jordan Kuwait Bank:

• Interest Rate: 5.75%
• Min. Salary: 500 JDs
  
• Financing up to 75% of the house amount
  
• Financing Period: Up to 20 years
  
• Work Period: Not less than 1 year
  
• No commission fees
  
• No mortgage fees
  
• Debt Burden Ratio (DBR): 30% of the salary
  
• A Jordanian guarantor might be needed
  

3- Arab Bank:

• Interest Rate: 6.25% 
• Min. Salary: 4000 JDs for Jordanians in the United Arab Emirates (UAE), Qatar, and Kuwait
• Min. Salary will differ for other GULF countries
• Financing up to 75% of the house amount
  
• Financing Period: Up to 25 years
  
• Work Period: Not less than 1 year
  
• Debt Burden Ratio (DBR): 50% of the salary
  

4- Bank Al Etihad

• Interest Rate: 6.25% for 20 years
• Interest Rate: 6.75% for 25 years
  
• Min. Salary: 2000 JDs
  
• Financing up to 80% of the house amount
  
• Work Period: Not less than 14 months
  
• No commission or mortgage fees if the loan amount > 40,000 JDs and for more than 10 years
  
• Debt Burden Ratio (DBR): 40% of the salary
  

5- Bank of Jordan:

• Interest Rate: 6.25%
• Min. Salary: 2000 JDs for the last year
  
• Financing up to 80% of the house amount
  
• Financing Period: Up to 25 years
  
• Work Period: Not less than 1 year
  
• No mortgage fees
  
• Debt Burden Ratio (DBR): 50% of the salary
  

**To compare between all housing loans for expats, click here
** Click here to learn more about DBR
**All offers are subject to the banks’ terms and conditions
** This article is not sponsored by any party