Authored by the expert who managed and guided the team behind the Saudi Arabia Property Pack
Everything you need to know before buying real estate is included in our Saudi Arabia Property Pack
Thinking about buying property in Saudi Arabia as a foreigner and wondering if you can actually get a mortgage there?
You're not alone, and the rules have changed quite a bit recently, so it's worth getting the latest picture.
We constantly update this blog post to keep it accurate for you.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Saudi Arabia.
Can foreigners get a mortgage in Saudi Arabia right now?
Can a foreigner get a residential mortgage in Saudi Arabia right now?
Yes, foreigners can get a residential mortgage in Saudi Arabia, but only if they hold valid residency (like an Iqama or Premium Residency) and are buying in a zone where non-Saudis are legally allowed to own property.
Foreigners with Premium Residency typically have the easiest path because Saudi banks view this status as lower-risk, though regular Iqama holders can also qualify with some extra steps.
The most common restriction banks impose on foreign applicants in Saudi Arabia is requiring the buyer to transfer their salary to the lending bank, which gives the bank visibility and control over income flow.
By the way, we have a whole document dedicated to mortgages for foreigners in our property pack about Saudi Arabia.
Can I get a mortgage in Saudi Arabia without residency?
In practice, getting a mortgage in Saudi Arabia without residency is extremely difficult because most banks structure their home finance products specifically around residents with local income.
The residency statuses that typically qualify for a mortgage in Saudi Arabia include Premium Residency (which banks prefer) and regular Iqama residency, though the latter often requires additional Ministry of Interior approval for certain products.
When applicants don't have Premium Residency, Saudi banks almost always require salary transfer to the lending bank plus a clean local credit record as additional conditions.
By the way, we've written a blog article detailing residency and citizenship options that exist when you buy property in Saudi Arabia.
Do banks require a local work contract in Saudi Arabia right now?
Most Saudi banks strongly prefer applicants with a local work contract because it allows them to verify income and set up salary transfer arrangements, which is the foundation of their underwriting process.
If you don't have a local work contract, banks may accept alternative proof like substantial local deposits, a strong existing banking relationship, or documented rental income from Saudi properties, though approvals become much harder.
When a local work contract is present, Saudi banks typically require at least 3 to 6 months of employment history with your current employer before they consider your mortgage application.
Can self-employed foreigners qualify for a mortgage in Saudi Arabia?
Self-employed foreigners can qualify for a mortgage in Saudi Arabia, but expect a much tougher process because banks treat variable income as higher risk under SAMA's responsible lending framework.
Saudi banks typically want to see at least 2 to 3 years of documented self-employment history, strong bank statements, and often require a larger down payment or the addition of a salaried co-borrower to offset the perceived risk.
Is foreign income accepted for mortgages in Saudi Arabia right now?
Foreign income is generally not accepted as the primary income source for mainstream mortgages in Saudi Arabia because banks want income they can verify locally and ideally have transferred to their accounts each month.
When applicants do earn income abroad, banks may consider it as a supporting factor but typically require extensive documentation including certified bank statements, employment contracts, and sometimes proof of assets held with the Saudi bank.
Can I buy a primary home (and an investment property?) with a mortgage in Saudi Arabia as a foreigner?
Yes, foreigners can obtain a mortgage for a primary home in Saudi Arabia as long as they meet residency requirements and are buying in a zone designated for foreign ownership under REGA's framework.
Investment property mortgages are also possible for foreigners in Saudi Arabia, but banks typically charge higher rates and require larger down payments, plus you must ensure the specific zone allows foreign ownership for investment purposes.
One important legal restriction: non-Saudis cannot own property within the boundaries of Mecca and Medina, with only very narrow exceptions allowed by law.
If you're buying for investment, you might want to check our blog article about buying and renting out in Saudi Arabia.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Saudi Arabia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What are the eligibility rules banks actually use in Saudi Arabia?
What minimum monthly income do I need in Saudi Arabia as of 2026?
As of early 2026, the minimum monthly income that Saudi banks typically require from foreign mortgage applicants is around SAR 10,000 (approximately USD 2,650 or EUR 2,450), though some banks set thresholds as low as SAR 8,000 for salary-transfer customers.
In practice, most approved foreign borrowers in Saudi Arabia earn between SAR 15,000 and SAR 30,000 per month (roughly USD 4,000 to USD 8,000 or EUR 3,700 to EUR 7,400), as this income level makes loan sizing practical for properties in major cities like Riyadh or Jeddah.
The minimum income requirement in Saudi Arabia rises with the loan amount you need because banks must ensure your debt burden ratio stays within responsible lending limits set by SAMA.
Saudi banks do allow combining household incomes from multiple applicants (co-borrowers) to meet the minimum threshold, which is especially helpful for couples or families where one spouse has a weaker income profile.
What debt-to-income limit do banks use in Saudi Arabia right now?
Saudi banks typically allow a maximum debt burden ratio (DBR) of around 45% to 55% of your monthly income for total obligations, though the exact threshold varies by lender and borrower profile.
When calculating this ratio, Saudi banks include all existing debts such as car loans, credit card minimum payments, personal loans, and any other installment commitments you already have.
Do I need a local credit score in Saudi Arabia right now?
You don't need a credit "score" in the American sense, but Saudi banks absolutely require a local credit record from SIMAH (the licensed credit bureau) if you want a smooth approval process.
Foreign credit reports can help you explain your financial history to the bank, but they typically won't replace SIMAH data in the underwriting workflow, so newcomers should focus on building a local credit footprint quickly.
Do banks require a local guarantor in Saudi Arabia right now?
Most Saudi banks do not require a local guarantor as a standard condition for salaried borrowers because the property itself serves as collateral, and salary assignment provides additional security.
Saudi banks are most likely to request a guarantor or co-borrower when your profile has gaps, such as a thin credit file, borderline affordability under DBR rules, or irregular income patterns.
When a guarantor is needed in Saudi Arabia, that person typically must be a Saudi resident with a stable income and clean credit history, often with their own employment verified through salary transfer.
Make a profitable investment in Saudi Arabia
Better information leads to better decisions. Save time and money. Download our guide.
How much cash do I need upfront in Saudi Arabia as of 2026?
What's the minimum down payment in Saudi Arabia right now?
For foreigners buying property in Saudi Arabia in early 2026, a realistic minimum down payment to plan for is 25% to 35% of the property price, even though some marketed products show higher loan-to-value ratios.
Across different Saudi banks and buyer profiles, down payment requirements range from about 10% for the strongest applicants (typically Saudi first-home buyers) up to 40% or more for non-residents or those with limited credit history.
You might secure a lower down payment in Saudi Arabia if you have Premium Residency, a long banking relationship with the lender, excellent SIMAH credit data, and are transferring your salary to the lending bank.
What loan terms can I realistically get in Saudi Arabia as of 2026?
What mortgage interest rates are typical in Saudi Arabia as of 2026?
As of early 2026, typical mortgage interest rates (or profit rates, as they're called in Islamic finance terms) for foreigners in Saudi Arabia range from about 5% to 8% APR equivalent, depending on your profile and the bank.
The factors that most significantly influence your rate in Saudi Arabia include whether you transfer your salary to the lending bank, your down payment size, your credit profile on SIMAH, and whether you choose a fixed or repricing structure.
Foreigners in Saudi Arabia typically pay similar rates to Saudi nationals with equivalent profiles, though those with Premium Residency and strong banking relationships may access slightly better pricing.
The interest rate is one of the factors we look at when assessing whether now is a good time to buy a property in Saudi Arabia.
Are fixed-rate mortgages available in Saudi Arabia right now?
Yes, fixed-rate mortgages are available to foreigners in Saudi Arabia, but "fixed" often means either fixed for the entire term or fixed for an initial period (like 2 years) before periodic repricing kicks in.
Typical fixed-rate period options offered by Saudi banks include 2-year fixed with repricing every 2 years thereafter, or fully fixed profit margin products that lock your rate for the entire loan tenure of 15 to 25 years.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Saudi Arabia. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
How do I maximize approval chances in Saudi Arabia right now?
What financial profile gets "yes" fastest in Saudi Arabia right now?
The ideal financial profile that gets mortgage approval fastest in Saudi Arabia is a resident expat with Premium Residency or a clean Iqama, working for a well-known employer, with salary transfer already set up at the lending bank.
Saudi banks consider the ideal income level to be at least SAR 15,000 per month (around USD 4,000 or EUR 3,700) with a debt burden ratio below 40%, leaving plenty of room for the new mortgage payment.
Banks in Saudi Arabia most favor applicants with stable salaried employment at a reputable company (especially government, semi-government, or large multinationals) with at least 6 to 12 months of continuous service.
A down payment of 30% or more typically signals a strong applicant profile in Saudi Arabia because it reduces the bank's risk exposure and shows you have meaningful savings.
We give more detailed tips in our pack covering the property buying process in Saudi Arabia.
What mistakes make foreigners get rejected in Saudi Arabia right now?
The most common mistake that leads to mortgage rejection for foreigners in Saudi Arabia is applying before setting up salary transfer and letting it run for at least 3 to 6 months, because banks simply cannot underwrite what they cannot see.
The financial red flag that most often disqualifies foreign applicants in Saudi Arabia is having existing installment debt (like car loans or personal loans) that pushes their total debt burden ratio above the bank's limit, leaving no room for a housing payment.
Get to know the market before you buy a property in Saudi Arabia
Better information leads to better decisions. Get all the data you need before investing a large amount of money. Download our guide.
Which banks say yes to foreigners in Saudi Arabia right now?
Which banks are most foreigner-friendly in Saudi Arabia as of 2026?
As of early 2026, the banks considered most foreigner-friendly for mortgages in Saudi Arabia include Al Rajhi Bank, SAB (SABB), Saudi National Bank (SNB), Riyad Bank, and Emirates NBD KSA, all of which have explicit expat home finance products.
What makes these banks more accessible to foreign applicants in Saudi Arabia is that they openly market products to expats, publish clear eligibility criteria, and have established processes for handling Premium Residency and regular Iqama applications.
Which banks accept non-resident borrowers in Saudi Arabia right now?
As of January 2026, most retail banks in Saudi Arabia do not offer mass-market mortgages to true non-residents, so the realistic options for non-residents are either buying with cash or obtaining residency first and then financing.
Even where foreign ownership is expanding under the updated REGA law, non-residents face the challenge that most bank products are structured around local income verification and salary transfer, which non-residents cannot provide.
Do international banks lend more easily in Saudi Arabia right now?
International banks operating in Saudi Arabia can sometimes offer smoother processes for expats, but they still must follow SAMA's responsible lending rules and REGA's ownership constraints, so the fundamentals remain similar.
Emirates NBD KSA is one international bank with a presence offering mortgages to foreigners in Saudi Arabia, and it publishes clear eligibility criteria including minimum salary and APR examples.
The main advantage of using an international bank in Saudi Arabia may be familiarity with expat documentation and potentially more comfort handling applicants from diverse backgrounds, though this varies case by case.
We made this infographic to show you how property prices in Saudi Arabia compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Saudi Arabia, we always rely on the strongest methodology we can, and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Real Estate General Authority (REGA) | Saudi regulator publishing the official foreign ownership framework. | We used it to explain what foreigners can legally own in early 2026. We also used it to clarify designated zones and implementing regulations. |
| Ministry of Investment (MISA) | Primary government publisher of the governing legal text. | We used it to confirm hard legal boundaries like the Mecca/Medina restriction. We relied on its formal definitions for ownership rules. |
| Saudi Central Bank (SAMA) Responsible Lending Principles | Core rulebook for bank affordability and lending standards. | We used it to describe how banks must assess borrower affordability. We grounded our eligibility guidance in SAMA's debt burden ratio requirements. |
| SAMA Official Repo Rate | The regulator's official policy rate publication. | We used it to explain why Saudi mortgage pricing is rate-sensitive. We anchored our interest rate estimates to the December 2025 repo rate. |
| SAMA Licensed Credit Bureaus | Official list confirming SIMAH's role in credit reporting. | We used it to confirm SIMAH's official status. We advised readers to build local credit footprints based on this system. |
| Al Rajhi Bank Expat Home Finance | Major Saudi bank's own product page for expat mortgages. | We used it to show that resident expats can get home finance. We referenced their Premium Residency and Iqama eligibility conditions. |
| SAB (SABB) Home Finance Pricing | Large bank's published representative APR examples and structures. | We used it to provide realistic APR examples for early 2026. We referenced their fixed and repricing structure disclosures. |
| Saudi National Bank (SNB) Home Finance | Largest Saudi bank's official product overview. | We used it to confirm home finance is mainstream for various borrower segments. We supported our process guidance with their documentation requirements. |
| Emirates NBD KSA Mortgages | Bank's disclosed eligibility rules and pricing examples. | We extracted minimum salary thresholds and APR examples. We highlighted their salary transfer requirements for foreign applicants. |
| Riyad Bank Expat Finance | Major Saudi bank showing expat underwriting patterns. | We used it as pattern evidence for how banks treat non-Saudis. We referenced their salary transfer and minimum service requirements. |
Get the full checklist for your due diligence in Saudi Arabia
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.
