Amman, June 10 (Petra) -- The General Corporation for Housing and Urban Development (HUDC) revealed the details of the newly upgraded housing finance support program, recently approved by the Cabinet, which aims to enable low-income Jordanian families to secure adequate housing by providing government-backed down payment assistance and flexible financing options extending up to 20 years.
HUDC Director-General Jomana Attyat stated that the program enables targeted families to obtain housing finance from local lending institutions via lease-to-own or cost-plus financing systems, structuring long-term financing values for up to 20 years to secure suitable housing within zoned residential areas. She added that the program operates by providing government financial support as a refundable down payment to help beneficiaries qualify for housing loans, while profit margins will align with prevailing market rates, though the corporation is exploring agreements with financial institutions to secure preferential interest and profit rates for beneficiaries.
Attyat clarified that the eligible target groups encompass public sector employees, personnel serving in the Jordan Armed Forces and security agencies, private sector employees, and licensed professionals with limited incomes whose earnings depend on billable hours. The financial support will be distributed based on a decile income system covering 10 brackets with monthly incomes ranging from JD320 to JD1,320.
The program is structured across three distinct financial levels. The first level features a maximum loan value of JD30,000 supported by a government down payment of JD15,000. The second level provides a maximum loan value of JD40,000 supported by a government down payment of JD12,000. The third level offers a maximum loan value of JD50,000 supported by a government down payment of JD8,000.
Attyat noted that a tiered repayment system for the down payment support will be implemented according to the specified income brackets, ensuring that the total monthly mortgage installment never exceeds 40% of the household's regular income.
The program aims to support 1,000 families over a span of four years, and it is designed to meet the residential needs of lower-income citizens, transitioning them from renting to homeownership with affordable installments tailored to their financial capacities. To qualify for the program, applicants must meet specific criteria, which dictate that they must hold Jordanian citizenship, be married or the primary provider for a family, and ensure that neither the applicant, their spouse, nor any minor children hold dual citizenship. Additionally, neither the applicant nor their spouse can have previously benefited from this housing program.
Applications will be evaluated using a competitive points system where priorities will be determined based on specific criteria, including employment type, age, family dependency size, years of service, and whether any family members have special needs. The Cabinet approved the direct government financial support during its session yesterday, with funds to be disbursed from the JD3 million allocated to the program within the 2026 state budget.
//Petra// AF
