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Conditions for Subsidy

Conditions for Subsidy

Conditions for Subsidy:

  • Investor must be Egyptian citizen.
  • Total annual income should not exceed LE 42,000 for single or LE 57,000 for family, which is determined by the law of mortgage finance and its executive regulations and SHMFF Board of Directors decrees.
  • Husband, wife or underage kids should not own or inherit any housing units, nor previously received subsidy or cooperative housing loan. Knowing that family (husband, wife) have one financial obligation and if one of them did not abide with one of the conditions directly the other will be refused.
  • Endorsement of current and received loans, lender and monthly amount of installments paid.
  • The age of the investor must not exceed 50 years and not less than 21 years.
  • Minimum monthly income to obtain loan is LE1000 according to the notifications of lenders.

External fund:

  • Unit price should not exceed LE200,000 for semi-finished units and LE250,000 for fully-finished units or as approved by the Board of Directors.
  • Units should be evaluated by a real estate expert who is registered with the Financial supervisor Authority (FSA) at the client's account.
  • Units must be registered or registrable.
  • Any other additional conditions determined by the SHMMF Board of Directors mentioned in the advertisement or the request for proposal (RFP).

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