Darkom, Jordan’s first housing loan insurance company has signed its maiden lender agreement with Cairo Amman Ban to provide homebuyers with financial solutions.

The agreement is the first of its kind to be signed by a housing loan insurance company with a bank in the kingdom, said a top official.

Under the agreement, all community members will be offered long-term housing loans at competitive interest rates, flexible payment terms, reduced down payments, and reduced monthly installments.

'Darkom’s strategy is to make the ownership of real-estate properties attainable for all segments of the community regardless of their socio-economic background. It achieves this goal by allowing buyers to purchase real-estate properties through funding solutions that harbor payment terms that extend up to 25 years,' general manager of Darkom, Waseem Wael Zurub.

The company’s solutions also serve to reduce risks incurred by banks and to make the monthly installments incurred by homebuyers more affordable.

Since its launch, Darkom has worked to provide lenders, banks and other financial institutions with protection against losses they may incur as a result of a payment default on a mortgage loan.

“I am confident that our joint collaboration will serve to enhance Jordan’s real-estate sector, as this agreement will serve to invite more people to invest in real estate,” Zurub noted.

Cairo Amman Bank said the key objective was to provide innovative financial products to low and medium-income group for housing.

Kamal Al Bakri general manager of Cairo Amman Bank said: “Our aim is to provide homebuyers with financial solutions that respond to their needs. We chose to collaborate with Darkom based upon a strategic plan that guarantees both parties rights.”-TradeArabia News Service