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MOROCCANS OVERSEAS TO BENEFIT FROM GOV. MORTGAGE LOAN GUARANTEES

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MOROCCANS OVERSEAS TO BENEFIT FROM GOV. MORTGAGE LOAN GUARANTEES - Morocco - Financial/Loan - Real Estate


Loan guarantee for up to $100,000 & up to 25 years. The Moroccan government recently decided to give Moroccans Living Overseas the opportunity to benefit from the guarantee Fogarim" for their home loans.



They will in fact be part of the population that is eligible for the guarantee “Damane Sakane” (former Fogarim) after the latter has been extended to middle income families The fund, provided and managed by the “Caisse Centrale de Garantie” (CCG), will allow loans up to $100,000 to acquire property. According to the agreement signed by the Moroccan Ministry of Finance and the “Groupement Professionnel des Banques du Maroc” (GPBM), bank financing may be up to 100% of the total cost of the acquisition. The borrower must also be of Moroccan nationality, be under the age of 65 years and not have previously received a loan guaranteed by the State. “The repayment period has also been revised and adapted to middle income families because it can reach up to 25 years, "says a spokesperson from the GCC.


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