Apply for a Housing Loan In Oman By Online
- In order to apply for a housing loan, you must make an application through the Housing Office in your area.
- You’ll need to supply the following documents:
- Photocopy of identification card as well as passport for the person applying and spouse.
- A valid salary certificate from the employer.
- Craftsmen must submit an income estimation certificate accepted by the Sheikh, and endorsed through the Wali.
- Copy of marriage agreement and birth certificates of the children.
- Acknowledgement that they do not have any alternative source of revenue.
- Statement of bank account for six months after the submission of an application and on turning.
- Your application will be evaluated. The rejection process can be triggered in two ways :
- If you’ve submitted inaccurate information about your health condition, or intentionally kept the information that was supposed to be provided, you must submit it.
- If you have caused delays in the work process without any reason over a period of more than 60 days after the day of the operation order for the case of the housing assistance program or the loan.
- After you have received the initial approval , you will need to submit the following documents:
- The title document as well as survey drawing as well as maps of the property that are verified by the authorities in charge in the event of approved from the ministerial.
- A valid permit to construct the home that must be built, extended or finished or to complete building to be bought.
- Three quotes from contractors that have been certified by the Ministry. Ministry.
- A notary’s certificate which states that the warrantor in the circumstances specified in article (20) of the Social Housing Law; shall commit to paying the loan installments jointly with the borrower.
- A recent pay certificate for the borrower as well as a copy of his identification card as well as his passport.
- A note from the consultant which decides on the amount of fees that will be paid in exchange of his oversight to the project’s implementation
- After you have provided all required documents, a home loan in the amount of 20 thousand riyals, paid in monthly installment not exceeding (25 25 %) of your income can be given to you.
Required Documents For Apply for a Housing Loan In Oman
- Photocopy of identification card as well as passport for the person applying and spouse.
- A valid salary certificate from the employer.
- Craftsmen are required to be able to provide an estimate of income accepted by the Sheikh, and verified from the Wali.
- Copy of marriage contract as well as birth certificates of the children.
- Recognizes that there is no additional source of income.
- Statement of bank account for six months following the submission of the application and after getting to the turn.
After you have received the initial approval , you will need to submit these documents
- The title document, survey drawing as well as maps of the property that are verified by the authorities in charge subject to approved from the ministerial.
- A valid permit to construct the building to be built or extended or finished or to complete building to be bought.
- Three quotations from contractors endorsed by the Ministry. Ministry.
- An authentic notary’s testimony that the warrantor, within the terms of article (20) of the Social Housing Law; shall take responsibility for the loan installments jointly as the loanee.
- A recent income certificate of the applicant for the loan along with a copy identification card as well as his passport.
- A note from the consultant which is determined the fee in the context of his oversight to the project’s execution
Office Locations and Contact
The Ministry of Housing (Headquarter): MuscatP.O.Box 173, PC 100. Muscat , Sultanate of Oman
(+968) 24693333
dept.infopr@housing.gov.om
Helpdesk: apps@housing.gov.om
Eligibility
In order to apply for a home loan applicants must meet all of the following requirements:
- Should be of Omani national
- It must be at least twenty-three years old either a male or woman, in the event that he cannot prove that the couple is married and that his age is not lower than twenty-one years old or is the sole breadwinner of the family when applying.
- The spouse or applicant must not be the owner of an appropriate dwelling or had the property disposed of through any legal proceeding to be eligible for the benefits in this statute.
- The spouse or applicant has not previously received an apartment or assistance with housing or an loan in line to the requirements under the Social Housing Law, or any other laws or regulations that allow the construction of a home or getting the property.
- The applicant must not be a employees of an organization which has a housing loan policy for their staff and employees, except for those who retired and had never received a housing loan from the previous employer .
- The spouse or applicant should not own any land or real estate that is equivalent to the value that is the property, or the loan or assistance for housing but with the restriction that the main purpose of the application is to carry out an undertaking on the same property.
- The monthly total income of the borrower must be in the range of R.O (301) 300 and 1 Riyals and R.O (500) 500 Riyals at the time of applying for the loan, and the monthly total income of the loanee must not be more than R.O (600) six hundred Riyals per month at the time of turning.
- The income of the craftsman is determined by calculating their average monthly earnings in a year, provided that it remain within the boundaries of the amount that is referred to at the point when the turn is reached them.
A mortgage for housing is granted in these cases:
- A married worker or the breadwinner in the family.
- A divorced woman incubating for children as per the court’s ruling.
- A widow working, who has children who are her responsibility.
- Work-from-home woman unmarried and sole breadwinner for her family.
- A woman working that is married a non-Omani and who has minor children living with her continuously and permanently within the Sultanate with the condition that the monthly earnings of both spouses is not surpass (RO 400/+) 4000 Riyals
The Document is required
The Housing Loan is a loan that is interest-free that is provided through the Ministry of Housing for limited income residents. This loan is repaid in simple monthly installments that do not exceed (25 percent) of the income per month and is without interest as long as the total amount earned by the person applying be in the range of (RO 301+) and (R.O 400) on the date the application was submitted, and not exceed (R.O 500(R.O 500) /) Five Hundred Rs. at the time of his turn. In the case of the spouse of the applicant the total monthly earnings of the couple should not be more than R.O (600/) 600 Riyals.