REDF to launch subsidy program for existing mortgages, says official

10/12/2017 Argaam

 

Saudi Arabia's Real Estate Development Fund (REDF) plans to start providing subsidized mortgage financing to existing beneficiaries within the next two weeks, Al-Madinah newspaper reported, citing the fund’s PR and Information Manager Hamoud Al-Osaimi.

 

Under the new program, REDF will cover the interest rate of existing mortgage loans issued by any financial institution, valued at a maximum of SAR 500,000, he said.

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