FAQ's
Most frequent questions and answers
Everyone’s financial picture is different, so things like your salary and monthly expenses play a big role. I’d recommend speaking with one of our advisors; they can take a closer look at your details and offer tailored advice.
Your mortgage payment serves three distinct purposes. It pays down the initial loan amount (the principal), covers the lender’s borrowing fees (interest), and includes mandatory insurance coverage. This ensures both your equity grows and the loan stays protected.Â
The borrowing limits for a mortgage depend significantly on your residency status. Below is a breakdown of the minimum and maximum loan amounts available:
For Residents
If you are currently residing in the UAE, the entry point for financing is more accessible:
- Minimum Loan Amount: AED 250,000
- Maximum Loan Amount: AED 24,000,000
For Non-Residents
Investors or individuals living abroad face higher entry requirements but still have access to substantial capital:
- Minimum Loan Amount: AED 750,000
- Maximum Loan Amount: AED 15,000,000
Making extra payments is a highly effective way to save money. By overpaying, you shorten the overall mortgage term and lower your borrowing costs. You can use our interactive calculator to estimate exactly how much time and interest you’ll save.
While every application is unique, most buyers receive their pre-approval in about 14 days. Once the MOU is finalized, the path to a final offer letter typically takes an additional two weeks. To understand how these stages apply to your situation, it’s best to speak with one of our advisors.
In the UAE, the required down payment is primarily influenced by your residency status and the property’s purchase price. For homes valued below AED 5 million, expatriates are generally required to provide a 20% deposit, whereas UAE nationals can secure financing with 15%. For luxury properties exceeding the AED 5 million threshold, the requirement increases to 30% for expats and 25% for UAE citizens.
A fixed-rate option means your borrowing costs are stabilized for a predetermined period, often between one and five years. This ensures your mortgage payments do not fluctuate, making it easier to manage your long-term budget without worrying about rate hikes.
With a variable-rate plan, the interest applied to your loan is linked directly to the EIBOR. This means your mortgage payments are not fixed; instead, they are adjusted periodically to reflect current market conditions, leading to potential changes in your monthly costs.
The minimum age requirement for borrowers is 21 years. Furthermore, the age of the borrower at the time of loan maturity is capped at 65 years for formally employed individuals and 70 years for independent contractors or business owners
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