🏠 Mortgage Calculator Saudi Arabia
Calculate home mortgage payments and total cost
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About This Tool
Mortgage Calculator Saudi Arabia - Calculate home mortgage payments and total cost This tool is specially designed for users in Saudi Arabia and provides accurate, instant results.
Features:
- Accurate and instant calculations
- User-friendly interface
- Full Arabic language support
- Completely free
- Compatible with Saudi standards
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FAQ about Mortgage in Saudi Arabia
Key requirements: Saudi national or resident, minimum age 21, stable monthly income of at least 3500 SAR, employment for at least 3-6 months, and monthly installment should not exceed 65% of net salary. Minimum salary varies between banks.
Subsidized financing from the Real Estate Development Fund (Sakani) covers part or all of the profit/interest, significantly reducing monthly payments. Applicants must be registered in Sakani and never owned property before. Non-subsidized mortgages require paying full profit.
Mortgage duration ranges from 5 to 30 years depending on the bank and borrower age. Longer duration means lower monthly payment but higher total cost. Borrower age at end of financing should not exceed 70 for employees and 65 for retirees.
Yes, you can make early repayment on mortgages in Saudi Arabia. Per SAMA regulations, the bank cannot charge an early repayment penalty exceeding 3 months of profit or the remaining profit (whichever is less). Early repayment saves significant amounts in profit charges.
Profit rates range from 4.5% to 7% annually depending on the bank, financing type (fixed or variable), and duration. Fixed-rate financing keeps payments constant throughout, while variable rates are affected by SAIBOR. Most Saudi banks offer Sharia-compliant financing.