FAQ & ANSWERS
Frequently Asked Questions
Get answers to the most common questions about UAE mortgages, eligibility, and the application process.
<p>A mortgage is a loan used to purchase or maintain a home, land, or other types of real estate. The borrower agrees to pay the lender over time, typically in a series of regular payments divided into principle and interest.</p>
A mortgage broker has access to multiple lenders and can compare rates, terms, and conditions to find the best deal for your specific situation. This saves you time, effort, and often money by securing better interest rates and favorable terms that you might not get on your own.
Eligibility depends on factors like residency status, income, and age. Generally, you need to be a UAE resident, have a minimum monthly salary of AED 8,000-15,000, and be between 21-65 years old. You will also need documents like passport, visa, Emirates ID, salary certificates, and bank statements.
<p><ul><li>The down payment required depends on several factors:</li><li>Conventional Loans</li><li>Typically 3-20% of home price</li><li>Less than 20% requires PMI</li><li>FHA Loans</li><li>As low as 3.5% down payment</li><li>Available for first-time buyers</li></ul></p><p>Contact us for personalized advice based on your situation.</p>
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