A mortgage remains the primary route to homeownership in Morocco. In 2025, conditions have evolved with Bank Al-Maghrib holding its key rate at 2.75% and intensifying competition among banks. This guide walks you through every step of the process.
The Moroccan Real Estate Market
Morocco's real estate sector is in a stabilisation phase following post-pandemic adjustments. Prices have consolidated in major cities such as Casablanca, Rabat and Marrakech, while secondary cities like Tangier and Agadir still offer attractive opportunities.
Demand remains solid, driven by a growing middle class and government homeownership support programmes. The "Daam Sakane" programme provides a direct grant of 100,000 MAD for first-time buyers, making property ownership more accessible.
Good to know
The Daam Sakane programme is available to Moroccan nationals whose net monthly income does not exceed 20,000 MAD, for a property priced at no more than 700,000 MAD (including VAT).
Current Bank Rates
As of January 2025, mortgage rates in Morocco range between 3.5% and 5.5% depending on the bank, loan term and borrower profile. Here is an overview of the ranges currently offered:
| Bank | Fixed Rate | Variable Rate | Max Term |
|---|---|---|---|
| Attijariwafa Bank | 4.10% — 5.20% | 3.60% — 4.50% | 25 years |
| BMCE Bank of Africa | 4.00% — 5.00% | 3.50% — 4.30% | 25 years |
| Banque Populaire | 3.90% — 4.80% | 3.50% — 4.20% | 25 years |
| CIH Bank | 3.80% — 4.70% | 3.40% — 4.10% | 30 years |
| Crédit du Maroc | 4.20% — 5.30% | 3.70% — 4.60% | 25 years |
* Rates shown are indicative and may vary depending on your borrower profile. Use our mortgage calculator to get a personalised estimate.
Eligibility Requirements
To qualify for a mortgage in Morocco, you generally need to meet the following criteria:
- ✓ Be a Moroccan resident or MRE (Moroccan Residing Abroad)
- ✓ Have a debt-to-income ratio below 45% (some banks accept up to 50%)
- ✓ Provide a minimum down payment of 10% to 20% of the property price
- ✓ Have at least 6 months to 1 year of employment history
- ✓ Have no adverse entries on Bank Al-Maghrib's credit risk register
Required Documents
Prepare your file in advance to speed up processing. Banks generally require the following:
Identity Documents
- - National ID card or passport
- - Proof of address
- - Marriage certificate (if applicable)
Proof of Income
- - Last 3 pay slips
- - Employment certificate
- - Bank statements (last 6 months)
Property Documents
- - Preliminary sale agreement
- - Land title or property certificate
- - Floor plan
Other Documents
- - Latest income tax return (if applicable)
- - Amortisation schedule (existing loans)
- - Renovation quotes (if purchase + works)
The Application Process
Here are the key steps to securing your mortgage:
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1
Assess your borrowing capacity
Use our borrowing capacity calculator to find out your maximum budget.
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2
Compare offers
Don't settle for your existing bank. Compare at least 3 to 4 institutions to find the best rate.
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3
Assemble your application file
Gather all the documents listed above. A complete file significantly speeds up processing time.
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4
Obtain a conditional approval
The bank reviews your file and issues a conditional approval within 48 hours to 2 weeks.
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5
Sign the loan offer
After final approval, you sign the loan offer and proceed to the notary for the deed of sale.
How to Negotiate Your Rate
Negotiating your interest rate is a crucial step that can save you tens of thousands of dirhams over the life of your loan. Here are our recommendations:
- 1. Create competition between banks — Obtain written offers from several banks and show them to your preferred lender. This is the most effective lever.
- 2. Transfer your salary — Banks offer better conditions when you direct your pay to their accounts.
- 3. Increase your down payment — A down payment of 20% or more gives you significant negotiating power.
- 4. Negotiate application fees — Often set between 0.5% and 1% of the loan amount, these are negotiable and sometimes waived entirely.
Borrower's Insurance
Borrower's insurance is mandatory for all mortgages in Morocco. It covers death and disability, guaranteeing loan repayment to the bank. Its cost typically represents between 0.3% and 0.5% of the borrowed capital per year.
Since 2022, you have the option of taking out external insurance (insurance delegation) rather than the policy offered by the bank, which can save you up to 30% on the total insurance cost.
Wafir.ma Tips
- ✔ Simulate first — Use our free tools to find out your borrowing capacity and monthly payments.
- ✔ Don't rush — Take the time to compare at least 3 banks. A 0.5% rate difference can represent 50,000 MAD in savings over 20 years.
- ✔ Factor in all costs — Notary fees (approximately 6% of the price), application fees, borrower's insurance: include them all in your total budget.
- ✔ Check Daam Sakane eligibility — If you're a first-time buyer, verify whether you qualify for the 100,000 MAD grant.
Wafir Tip
Before committing, simulate your mortgage for free on Wafir.ma. You can also compare bank offers and browse our lender directory to find the nearest branch.
Frequently Asked Questions
What is the average mortgage rate in Morocco?
The average rate sits between 3.5% and 5.5% depending on the bank and borrower profile. The best applicants (civil servants, high earners) can secure rates around 3.5% to 4%, while higher-risk profiles may be offered rates closer to 5.5%. Bank Al-Maghrib's key rate, held at 2.75%, helps keep these levels attractive.
What is the minimum down payment for a mortgage in Morocco?
Most banks require a minimum personal contribution of 10% of the property price. However, some banks accept 100% financing for civil servants or applicants with excellent profiles. With the Daam Sakane programme, the 100,000 MAD grant can be used as a down payment for first-time buyers.
Can MREs (Moroccans Residing Abroad) get a mortgage in Morocco?
Yes, MREs can obtain a mortgage in Morocco. Banks offer specific products tailored to their situation: proof of income from the country of residence, partial salary transfer options, and terms of up to 25 years. Rates are generally similar to those offered to residents.
What is the maximum mortgage term in Morocco?
The maximum term varies between 25 and 30 years depending on the bank. Attijariwafa Bank and BMCE offer up to 25 years as standard, while some promotional offers may go up to 30 years. Bear in mind: the longer the term, the significantly higher the total cost of the loan.
What is the Daam Sakane programme?
Daam Sakane is the government homeownership support programme launched in 2024. It offers a direct grant of 100,000 MAD to first-time buyers whose monthly income does not exceed 20,000 MAD. This grant can be used as a down payment and is compatible with both a standard mortgage and a Mourabaha.
Sources and References
- 1. Bank Al-Maghrib — Key rate and banking credit statistics for Morocco
- 2. APSF — Professional Association of Finance Companies, credit market data
- 3. ANCFCC — National Agency for Land Conservation, Cadastre and Cartography
- 4. Daam Sakane Programme — Official portal for the Moroccan government's housing assistance programme
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