Mortgage in Alexandria
Alexandria, Egypt’s cultural capital and the second largest city, which is also known as the “Pearl of the Mediterranean”, is a popular travel destination and is considered a major landmark in world history.
This once-prosperous city is striving to regain its past glory. However, the recent happenings in the country have made the recovery from the financial letdown a little difficult. Under such circumstances, mortgage in Alexandria seems to be the most essential financing tool used by the local banks.
Mortgage is the money lent by a financial institution for buying a house or for constructing a new house or renovating an existing one. It is the ideal option for anyone who dreams of having their own residential property that would enhance their social status as well as remain a solid investment worth many times its value in the years to come.
How to apply for a mortgage in Alexandria
Once you have decided to seek a mortgage loan in Alexandria, you will need to approach the loans department of a local bank where you have an account. Else, you should approach a mortgage agent. The entire process of getting a mortgage is easier with an agent than a bank.
If you were to do all the work on your own, doing some local research in this regard would be necessary to understand the regulations behind the Alexandria mortgage. You will need to consider the interest rates, the various cost factors governing the mortgage, tax rates, insurance etc. However, this work would consume most of your valuable time and drain your energy as you may be dealing with something that you have never dealt with before.
MoneyGulf comes off as an agent company that offers you complete assistance in getting your mortgage loan sanctioned. The company knows the ins and outs of Alexandria mortgage and they are capable of guiding you in the right direction to choose the best mortgage loan from the appropriate lender so that you get the maximum benefits.
This assistance comes as a huge relief especially when you do not have the time to explore the many types of mortgage and make an informed decision. MoneyGulf makes the entire Alexandria mortgage a breeze by doing all your work for you.
Documents you need to submit
- The sanctioning authority would require you to produce the following in order that you qualify for Alexandria mortgage.
- Your national ID card, if you are an Egyptian; or your valid residential visa, if you are an immigrant
- Your income proof
- Proof of your age
- Residential address
- Bank statements for three months
- Tax returns as per the bank’s requirement
- Employment certificate
Eligibility for mortgage in Alexandria
The normal eligibility criteria require you to be over 21 years and have a dependable source of income so that you will be able to make your monthly installments regularly. A clean credit history of impeccable financial dealings with the sanctioning bank or the others in the past would certainly enhance your chances of getting a mortgage loan.
Mortgages are usually the longest loans that last for a period ranging from 15 - 30 years depending on the terms of the lender. So, before you finally sign up for a mortgage in Alexandria, it would be wise to choose a property that is worth purchasing with the long term in mind.
Contact MoneyGulf today and ask for a representative to report at your doorstep to help you with the early sanction of a mortgage loan in Alexandria.