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Mortgage finance initiative for middle-income earners at an 8% interest rate Arab African International Bank | Specs | Mortgage finance initiative for middle-income earners at an 8% interest rate Arab African International Bank |
|---|---|
| Available online | Yes |
| Loan type | Mortgage Finance |
| Interest type | Reducing Balance |
| Interest rate | 8% |
| Min amount | EGP 0 |
| Max amount | EGP 2,500,000 |
| Min term | 5 yrs |
| Max term | 25 yrs |
| Max DTI | 40% |
| Max financing | 80% |
| Zero down payment | No |
| Processing fee (%) | 2% |
| Processing fee (fixed) | EGP 300 |
| Min monthly income | EGP 40,000 |
| Min age | 21 |
| Max age | 60 |
| Approved employer | No |
| Requires collateral | Yes |
| Life insurance | No |