Real estate finance initiative
Get the home you want
Within the framework of the CBE’s initiatives, Owners 2 Buyers will help you buy a unit with installments that suit your income
Longest repayment periods
Enjoy a repayment period of up to 30 years with descending interest rates
Lowest interest rates
Repay your loan with descending interest rates starting at 8% and up to 12%
Low down payment
Own a residential unit with a 15% or 20% down payment of the unit’s price
No issuance fees
Application fees and property assessment charges are not required
Free insurance
Benefit from free life and property insurance throughout the loan tenor
Different repayment options
Own a residential unit worth up to EGP 2.5 million with repayment plans that suit your income
Fast-tracked application process
Enjoy a simple and convenient application process
Middle Income Individuals
| 12% Middle Icome | 8% Middle Income | 8% Middle Income | |
|---|---|---|---|
|
Maximum Value of Unit |
EGP 2.5 million |
More than EGP 1.1 million and up to EGP 1.4 million |
Up to EGP 1.1 million and less |
|
Minimum Down Payment |
20% of the total unit value |
20% of the total unit value |
15% of the total unit value |
|
Maximum Monthly Net Income |
Single: EGP 40,000 Family: EGP 50,000 |
Single: EGP 13,000 Family: EGP 18,000 |
Single: EGP 13,000 Family: EGP 18,000 |
|
Interest Rate |
12% |
8% |
8% |
|
Maximum Loan Tenor |
25 years |
30 years |
30 years |
|
Administrative Fees (unrelated to the Social Housing and Mortgage Finance Fund) |
None |
1% of the loan amount |
1% of the loan amount |
|
Total Value of Installments in Percentage |
Total value of installments should not exceed 40% of monthly net salary |
Total value of installments should not exceed 40% of monthly net salary |
Total value of installments should not exceed 40% of monthly net salary |
|
Unit Features |
Fully finished with facilities |
Fully finished with facilities |
Fully finished with facilities |
Examples
Repayment Examples of Typical Sums Borrowed
| Loan Tenor | Monthly Installment |
|---|---|
|
10 years |
EGP 1.213 |
|
15 years |
EGP 956 |
|
20 years |
EGP 836 |
|
25 years |
EGP 772 |
|
30 years |
EGP 734 |
| Loan Tenor | Monthly Installment |
|---|---|
|
5 years |
EGP 2,224 |
|
10 years |
EGP 1,435 |
|
15 years |
EGP 1,200 |
|
20 years |
EGP 1,101 |
|
25 years |
EGP 1,053 |
|
Residential unit price |
EGP 1,000,000 |
|
Down payment |
EGP 150,000 (1,000,000 x 15% = 150,000) |
|
Loan amount |
EGP 850,000 (1,000,000 – 150,000 = 850,000) |
|
Interest rate (descending) |
8% |
|
Loan tenor |
30 years |
|
Monthly installments |
EGP 6,237 |
|
Residential unit price |
EGP 1,000,000 |
|
Down payment |
EGP 200,000 (1,000,000 x 20% = 200,000) |
|
Loan amount |
EGP 800,000 (1,000,000 – 200,000 = 800,000) |
|
Interest rate (descending) |
12% |
|
Loan tenor |
25 years |
|
Monthly installments |
EGP 8,426 |
Fees and Charges
Fees and Charges for the Mortgage CBE Initiative
|
Application Fees |
Free |
|
Property Assessment Fees |
Free |
|
Registration Fees |
Free |
|
Life Insurance Throughout Loan Tenor |
Free |
|
Property Insurance Throughout Loan Tenor |
Free |
|
Early Settlement Fees |
None (customer repays subsidized interest amounts in full, calculated from the date of receiving the loan until the early settlement date, according to the rates set by the CBE) |
|
Late Settlement Fees |
2% added to the applied interest rate and applied to the overdue amount |
Required Documents
What you need to get a Mortgage under CBE's initiatives
Employees (with a fixed monthly income)
Single
- Copy of National ID
- Proof of income indicating monthly or annual net salary
Married
- Copy of spouse’s National ID
- Proof of income for employed spouses in accordance with the work’s nature
- Certificate of insurance for unemployed spouses
- Documents proving additional sources of income can be submitted if available (second job, Certificates of Deposit, Time Deposits, etc.)
- The bank has the right to request additional documents during the mortgage approval process
Terms and conditions apply
Tax registration number: 204-891-949
Self-employed (Business owners and commercial activities)
Single
- Copy of National ID
- Recent utility bill from current place of residence
- A certificate from a certified legal accountant by the CBE for the previous year (at least) OR a bank statement for the past 12 months
- Copy of recent commercial register and tax card
Married
- Copy of spouse’s National ID
- Proof of income for employed spouses in accordance with the work’s nature
- Certificate of insurance for unemployed spouses
- Documents proving additional sources of income can be submitted if available (second job, Certificates of Deposit, Time Deposits, etc.)
- The bank has the right to request additional documents during the mortgage approval process
Terms and conditions apply
Tax registration number: 204-891-949
Professionals (medical doctors, dentists, etc.)
Single
- Copy of National ID
- Recent utility bill from current place of residence
- Certificate from a certified legal accountant by the CBE for the previous year (at least) OR a bank statement for the past 12 months
- Copy of tax card
- Practicing certificate, syndicate membership, or commercial register
Married
- Copy of spouse’s National ID
- Proof of income for employed spouses in accordance with the work’s nature
- Certificate of insurance for unemployed spouses
- Documents proving additional sources of income can be submitted if available (second job, Certificates of Deposit, Time Deposits, etc.)
- The bank has the right to request additional documents during the mortgage approval process
Terms and conditions apply
Tax registration number: 204-891-949
Freelancers (photographers, programmers, graphic designers, etc.)
Single
- Copy of National ID
- Recent utility from current place of residence
- Bank statement for the past 12 months
- Certificate from a legal accountant with the annual or monthly income of the past year
Married
- Copy of spouse’s National ID
- Proof of income for employed spouses in accordance with the work’s nature
- Certificate of insurance for unemployed spouses
- Documents proving additional sources of income can be submitted if available (second job, Certificates of Deposit, Time Deposits, etc.)
- The bank has the right to request additional documents during the mortgage approval process
Terms and conditions apply
Tax registration number: 204-891-949
Required documents for financed units
The documents submitted for the desired unit are reviewed on an individual basis.
- The bank has the right to request additional documents during the mortgage approval process
Terms and conditions apply
Tax registration number: 204-891-949
Additional Details
- Ascending yearly installments can be applied throughout the tenor of the loan
- The customer/family, including minor children, can benefit from the initiative for one residential unit, if they have never benefitted from previous mortgage initiatives
- The customer can choose to increase the minimum down payment (15% or 20%)
- If the customer chooses early settlement or sells their unit, they shall pay the full interest rate according to the rates set by the CBE
- Loan conditions apply to the documents provided by the Social Housing and Mortgage Finance Fund according to the regulations of the Fund so long as they do not conflict with the bank’s credit policies
- Real estate transfer tax: 2.5% of the unit’s price
- Low Income Individuals: The requests of low-income individuals are submitted to the Social Housing and Mortgage Finance Fund, whether the unit belongs to the Fund or is another eligible unit