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Do you provide Mortgage Assistance ?
Yes , as property consultants , we will provide a 360 degree financing consultation to buy your property and we have a range of financial proposals to select from. We will also help you in:
What Mortgage Type available for me ?
What are the requirements to issue a Mortgage ?
Within the UAE, financial institutions adhere to a specific criterion which are:
Credit history
Length of employment in UAE
Time spent within the UAE (Usually from 6 to 12 months)
Total business period in UAE (Usually 3 years)
What are the Fees during my property purchase?
What is the maximum Mortgage period in UAE ?
25 Years for nationals and residents and 15 years for non residents.
What is the Mortgage Financial Cap ?
What is the salary terms to issue a Mortgage ?
The minimum salary from 10,000 AED for UAE nationals and 15,000 AED for expats.
How much Mortgage amount eligibility ?
Not more than 25% or 28% of the income is required to pay the Equated Monthly Installment (EMI).
Do the Mortgage include utilities payments ?
No
Is there an option to rent to own ?
What are the T & C for Mortgage Loan
The mortgage agreements and processes are monitored by the Government and must comply with the laws. The Real Estate Regulatory Agency (RERA) requires a set of documents and other particular for registration of the mortgage agreement. You can check the procedure and requirements for RERA Registration Unregistered contracts will be considered null and void. The applicant must fulfil all the conditions for eligibility set by the government of UAE. RERA registrations require a non-refundable fee of AED 1000.
Can you provide Mortgage Preapproval ?
Does property value affects the down payments?
If a person buys their first property which is under AED 5 million, the minimum down payment they will need to pay is 20%. If a non-national buys a property over AED 5 million, the minimum down payment is 30%. For a second, third and any more properties of any price, the down payment is at least 40%. If the property is off-plan or under construction, the down payment will be 50% of the purchase price of the property.
If you want a zero down payment home loan in Dubai, then rent to own property may be a good fit for you.
What is the Mortgage loan maximum I can get ?
What are the documents to have Mortgage loan ?
How much Mortgage loan cost fees ?
Bank fees including the property valuation fees, processing fees, and insurance registration fees. The mortgage registration fee which is 0.25% of the total value of your approved mortgage. Mortgage life insurance, which will have a varying costs depending on the type of property and mortgage.
