Your Partner in Housing Financing Solutions
At Tamweel Aloula, we understand the significance of owning a home, and we’re dedicated to helping you achieve that dream. As a one of the leading financing companies, we specialize in providing tailored solutions that empower individuals and families to acquire their ideal homes with ease and confidence.
Our Commitment to You
At the core of our values lies a commitment to transparency, integrity, and customer-centricity. We believe in fostering long-term relationships built on trust and reliability. When you choose Tamweel Aloula, you’re choosing a partner who is genuinely invested in your well-being and financial success.
Our Housing Financing Solutions
Whether you’re a first-time homebuyer or looking to upgrade to your dream home, we provide competitive financing options tailored to your specific requirements.
Why Choose Tamweel Aloula?
– Expertise: With years of experience in the financing industry, our team of experts possesses the knowledge and expertise to guide you through every step of the financing process.
– Flexibility: We understand that one size doesn’t fit all. That’s why we offer flexible financing solutions tailored to your unique needs and circumstances.
– Competitive Rates: Enjoy competitive interest rates and favorable terms that make homeownership more accessible and affordable.
– Exceptional Service: Our dedicated customer service team is committed to providing you with personalized assistance and support, ensuring a smooth and hassle-free experience from application to approval.
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Requirements
• A copy of the property title deed, both sides or electronic
• A stamped copy of the building permit or electronic copy that includes the barcode or electricity document stamped by the electricity company, building permit, instrument, and certificate of occupancy.
• Product financing application form (signed by the customer)
• The original sales contract signed by the owner or stamped by the company/institution
• Providing property evaluation fees (the amount of evaluation fees is 2,300 riyals paid by the client)
• Providing the advance payment in the customer’s account (it is required to be provided after the order is passed)
• If the company is not accredited, periods and wages are required + identification and authentication from the Chamber of Commerce
• A copy of the client’s ID signed on the form by the client
• Defining the salary and ensuring that the letter is valid, not exceeding one month (approved format).
• Account statement + insurance print for the private and semi-governmental sectors and government agencies listed in social insurance
• The original form of the Retirement Authority or the General Organization for Social Insurance (for retirees)
• Original Takaful Medical Comprehensive Finance Questionnaire
• Furniture disclosure letter if there is furniture + a request to purchase an occupied property + a lease contract
• The owner’s ID is required, if the owner is an individual, the owner and mobile number are written in it, and if the owner is a company, a commercial register is required, and the identity of a person authorized by the company is written, and the mobile number is written.
• The requirement to obtain a certificate from the National Water Company regarding the safety of the water connection and its compliance with the necessary requirements
• Minutes of the division of the land on which the property is located (if the land is divided and the deed is not divided)
Tamweel Aloula is here to help you turn your dream into reality. Discover the real estate financing solutions at Tamweel Aloula and take the first step towards home ownership today.
Call to learn more or schedule an appointment to speak with Tamweel Aloula representative.
| Type of Housing | Market Value of Property | Loan-to-Value Ratio | Fixed or Variable Interest Rate/Profit | Annual Percentage Rate (APR) | Term in Years | Repayment Type | Monthly Installment Amount* | Early Repayment Fees |
| Purchase of First Residential Property | 1,000,000.00 | 90% | Fixed | 6.94% | 15 | Principal and cost of term from monthly installment | 8,806 | Profit for the next three installments |
| Purchase of First Residential Property | 1,000,000.00 | 90% | Fixed | 7.12% | 20 | Principal and cost of term from monthly installment | 7,665 | Profit for the next three installments |
| Purchase of First Residential Property | 1,000,000.00 | 90% | Fixed | 7.28% | 25 | Principal and cost of term from monthly installment | 7,076 | Profit for the next three installments |
| Purchase of Second Residential Property | 1,000,001.00 | 85% | Fixed | 7.13% | 20 | Principal and cost of term from monthly installment | 6,515 | Profit for the next three installments |
• The prices shown above include the monthly installment amount and the annual percentage rate at the beginning of the monthly installment collection for conventional financing, based on the company’s standard product rates, without additional repayment features. These do not apply to products or features provided to beneficiaries of the Ministry of Housing and the Real Estate Development Fund. If you choose a feature that allows for increasing installments, like the 2-in-1 feature, or decreasing installments, like the extended feature, the monthly installment amount and the annual percentage rate may change in subsequent periods, with details shown in the monthly repayment schedule within the financing contracts.
• The amounts due for early repayment reflect the profits for the first three months after two years from the start of the contract (months 25, 26, and 27), as early repayment is not allowed during the first two years of the contract. These amounts equal the cost of the term for the three subsequent installments after the last installment due before the beneficiary requests full early repayment according to the installment schedule. Profits for the next three months after the repayment month.
• The financing ratio for a second residence should not exceed 85%. The maximum financing term is 20 years.
•The examples above are approximate, as the due financing is calculated based on the client’s existing obligations and monthly income information when applying for financing.
• The examples and prices shown above apply to conventional financing, where the financing and the annual percentage rate are calculated based on the client’s financial capability.
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