Egypt Mortgage Application: Steps and Documents from Start to Signing

Masari Team

Getting a mortgage to buy an apartment in Egypt follows a clear sequence: confirm you are eligible, prepare income documents, gather the unit's papers, let the lender value and legally review the property, then sign and register the mortgage. Knowing the steps in advance saves weeks and helps you pick a "financeable" unit from the start. This guide is based on the Financial Regulatory Authority's (FRA) awareness flyer and press sources. Detailed terms vary between banks and finance companies.

Who lends and who regulates

You can borrow from a bank or a mortgage finance company. The FRA flyer explains that the FRA licenses and supervises mortgage finance companies, registers mortgage brokers, and lists licensed companies on its website. If you use a broker, the flyer says the lender pays the commission.

The flyer also stresses that a developer's instalment plan is not mortgage finance and is not supervised by the FRA. Treat the two as different products with different contracts and protections.

Step 1: Check eligibility

According to the FRA flyer, any adult aged 21 who can prove income may apply. Financing can reach up to 80% of the property value for residential use, with terms of up to 20 to 30 years, and a spouse's income may be added in some cases. Each lender sets its own rules on age at maturity, instalment-to-income ratio and minimum income, so get the terms in writing.

Step 2: Prepare income documents

Employees

  • Valid national ID.
  • Salary statement or income certificate from your employer.
  • Official social insurance statement.
  • A recent utility bill or proof of address.
  • Consent to salary transfer or instalment deduction if requested.

Self-employed and business owners

  • Income certificate from a chartered accountant.
  • Recent commercial register extract and tax card.
  • Tax return and tax and insurance status certificate.
  • Bank statements for the period the lender requests.

Step 3: The unit's papers

The lender takes the unit as collateral, so its legal status matters. The FRA flyer says the property should preferably be registered or registrable, although lenders may accept other guarantees. Lenders typically ask for the building licence, the purchase or allocation contract, and the registration contract or proof of the ownership chain. Ask the seller for these before paying any deposit.

Step 4: Valuation and legal review

The lender appoints a property valuer, and the loan is based on that valuation rather than the agreed price. If the valuation comes in lower, you cover the gap. The lender's legal team also checks the title.

Step 5: Contract, insurance and mortgage

Once approved, you sign and the mortgage is registered in the lender's favour. The flyer notes that premiums cover fire insurance on the unit and life insurance on the borrower, and warns that missing three instalments can lead to enforcement against the property.

Checklist

  1. Compare several banks and licensed finance companies.
  2. Have complete, up-to-date income documents.
  3. Confirm the unit is registered or registrable before paying a deposit.
  4. Ask about admin, valuation and insurance fees.
  5. Keep a safety margin in your monthly budget.
  6. Have a lawyer review the contract.

FAQ

Can I get a mortgage for an off-plan unit?

It depends on the lender and the unit's legal status. Many prefer ready units that are registered or registrable.

Is a developer instalment plan a mortgage?

No. The FRA flyer states it is not mortgage finance and is outside FRA supervision.

What if the valuation is below the price?

Financing follows the valuation, so you pay the difference or renegotiate.

This guide is general information, not financial advice.

Sources

On Masari you can compare unit prices, floor plans and payment plans before contacting any seller.