Service Description- This service allows citizens to obtain real estate loans for buying houses and apartments with a maximum amount of (70.000) KD
Eligibility or Criteria- To obtain a loan for purchasing houses, the real estate must be habitable and the total building area must not be less than (360) square meters. The bank inspects the house to confirm meeting this condition before purchase approval. If the total building area is less than (360) square meters, the amount is deduced from the loan amount
- General Conditions
- The paterfamilias must have the Kuwaiti nationality and the marriage contract must have been issued at least (2) years ago. Applicants who have children are excluded
- The paterfamilias must not be less than (21) years old
- The paterfamilias, his wife and dependent children must have not received housing welfare from the Government
- The paterfamilias must not own a real estate with an area of (200) square meters or more, or share in the ownership of a real estate which provides suitable housing welfare to his family
- The paterfamilias must not have appraised or sold a real estate for more than (140.000) KD, provided that the house selling price added to the desired loan or appraisal does not exceed (140.000) KD
- The real estate must be owned by the applicant, the borrower, under an official contract and title document
- The document of title must be free of any in-kind guarantees for third parties
- The divorcee or the widow who applies for a real estate loan must have a son who reached (21) years old or older, or a daughter who reached (30) years old or older
Required Documents- Copy of the nationality certificate and the civil ID, for the husband, wife and children
- Copy of the marriage contract, provided that the marriage contract has been issued at least (2) years earlier or the family has a child If the wife does not have a Kuwaiti nationality and the family has no children, the marriage period must cover (4) years at least
- A marriage continuity letter from the Palace of Justice, if the family has no children
- Certificate from the Real Estate Registration and Authentication Department in the Ministry of Justice in the name of the husband, his wife and children stating: the current and previous relations, and the realization method of the real estate, if sold. Copies of the mortgaged title documents and lists stated in the certificate
- Appraisal certificate from the Expropriation Department in Kuwait Municipality in the name of the husband, wife and children including their shares in the appraisal (If any)
- Detailed salary certificate from the applicant's employer, for employees in the government sector
- Detailed salary certificate from the Public Institution for Social Security stating the starting date of contribution and income amount and Certificate from Civil Service Commission stating whether they received the social allowance or not, for employees in the civil sector Approval letter from the applicant's employer on transmission of the monthly installments and leaving indemnity, provided that the capital of the company is not less than (500.000) KD, for employees in the civil sector
- If these terms are not met, a sponsor working in the government sector must attend the procedures, and the following documents must be submitted:
- •Copy of the civil ID
- •Written letter to the Bank on the sponsorship
- •Copy of the nationality certificate
- •Salary certificate from the applicant's employer, provided that each installment is not less than (15%) of the applicant's, borrower's, total salary
- Original civil ID for the father of the husband and a copy, if he is alive Copy of determination of heirs and a certificate from Real Estate Registration and Authentication Department in the Ministry of Justice, if the father is deceased
- Letter from the Public Authority for Housing Welfare on applicant's exclusion from his father's house, in case the house document of title of the deceased father was not issued
- Copy of the judgment for changing the name, the marriage contract, and all the required certificates in the old and new names, if the forename or surname was changed
- Marital status document from Ministry of Justice in the Government Mall and the civil ID for the father, if he is alive. Determination of heirs and a certificate from the Ministry of Justice in the name of the father, if he is deceased. For divorcees and widows
- Letter from the Public Authority for Housing Welfare on the relationship among the husband, the wife and the children. Documents before and after selling the real estate, if a house for limited income people is sold
- Note: All documents expire after six months, unless shorter expiration periods are stated in the document
ProceduresVisit one of Kuwait Credit Bank branches and submit the required documents
Fill the service application forms
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