RESIDENTIAL FINANCE REQUIREMENTS

To apply for SNB Home Finance, you will need:

To be between 20 - 60 years old .
To be a Saudi National .
A minimum monthly income of SR 3,000 .
To have been continuously employed for a minimum of 1 month.
10% to 30% down payment for Depending on the customer's sector, credit status and type of property.
To transfer your salary to SNB.

Property Requirements

The property must not exceed 45 years old upon completion of the financing tenure.
The property (Villas & Apartments) must be vacant (ready for occupancy).
Property must be located in one of the following cities:

Jeddah	Al Khubar	Makkah	Yanbu
Najran	Khamis Mushyt	Madinah	Qatif
Rabig	Abha	Al Taif	Tabuk

All property is subject to approval by SNB appraisers

Own your home in three easy steps:

1. Preparation

Gather all required documents
Check Customer Credit Rating with SIMAH
Valuation of Property
Pay both the Transaction and Down Payment fees

2.Purchasing the property

Sign the client's request for either Murabaha or Ijara financing
Pay property price
Transfer Title of Ownership to SNB

3. Transfer of property

Sign contract for either Murabaha or Ijara financing
Property is handed over to you

* Terms and conditions apply

** Annual Percentage Rate starts from 4.74% calculated on the amount of funding 590,000 Riyals for a period of 5 years, including management and assessment fees (1% of funding or 5000 Real value, whichever is less).

​​RESIDENTIAL​ FINANCE REQUIREMENTS