by eMortgage is the best mortgage advisor
eMortgage is the best mortgage advisor in Dubai and the UAE. With years of experience, our team can help you find the best mortgage for your needs. We work with all major banks and lenders in the UAE, so we can find you the best deal possible. Contact us today to learn more!
We understand your needs
At eMortgage, we understand that everyone’s needs are different. That’s why we work with all major banks and lenders in Dubai to find you the best deal possible. We take the time to get to know you and your needs so that we can find the best mortgage solution for you. Our team is here to help you every step of the way.
We coordinate you
We will coordinate with all the banks and lenders on your behalf, so you don’t have to. We’ll make sure all your documents are in order and that you’re getting the best deal possible. Furthermore, we will follow up with the bank or lender on your behalf to make sure the process is moving along smoothly.
We give you ongoing support
Once you’ve got your mortgage, we’ll still be here for you. We offer ongoing support to our clients so that you can make the most of your mortgage and have mental peace knowing that you are in good hands. We’ll help you with anything you need, from understanding your statement to making extra payments.
We secure your mortgage
At eMortgage, we understand the importance of security. We will work with you to find the best Dubai mortgage solution that meets your needs and provides you with the security you need. Not only that, but we will also help you to understand your mortgage so that you can make the most of it.
We can help you with different types of Mortgages in Dubai, UAE.
eMortgage is the best mortgage advisor for different types of Mortgages in Dubai, UAE. With years of experience, our team can help you find the best mortgage for your needs. Whether you are a UAE National or an expat, we can find the best mortgage solution for you.
Loans against property for UAE Nationals
UAE Nationals can apply for a loan against their property in Dubai. This can be used for various purposes such as investment, business, or personal use. The loan amount is based on the value of the property and can be up to 85% of the property value.
Home loans for UAE nationals
If you are a UAE national, you can even apply for a home loan to buy a property in Dubai. The loan amount is based on the value of the property and can be up to 85% of the property value.
Loans against property for Expats
As an expat, your options for taking a loan against property in Dubai are more limited. You can only apply for a loan if you have a UAE residency visa and your property is located in a freehold area. The loan amount is based on the value of the property and can be up to 80% of the property value.
Mortgage for expats
Getting a mortgage as an expat in Dubai can be a challenge. There are many factors to consider such as your income, employment status, and the type of property you are looking to buy. However, there are many options available for expats and our team can help you find the best one for your needs.
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Types of Mortgage in Dubai
There are many types of mortgages available in Dubai. The type of mortgage you choose will depend on your individual needs and circumstances.
The most common types of mortgages in Dubai are:
Fixed-Rate Mortgage:
This type of mortgage has a fixed interest rate for the entire term of the loan. This means that your monthly payments will stay the same even if interest rates rise.
Variable Rate Mortgage:
This type of mortgage has an interest rate that can change during the term of the loan. Your monthly payments will also change if the interest rate rises or falls.
Fixed-Rate Mortgage with a Cap:
This type of mortgage has a fixed interest rate for the first few years and then it will change to a variable rate. There is also a limit (or cap) on how much the interest rate can increase.
Non-Resident Mortgage:
This type of mortgage is for people who do not live in Dubai but want to buy property here. The interest rates on these mortgages are usually higher than for resident mortgages.
Offset Mortgage:
This type of mortgage allows you to offset your savings against the outstanding balance of your loan. This can reduce the amount of interest you pay and help you to repay your mortgage faster.
These were some of the most common types of mortgages available in Dubai. If you are not sure which one is right for you, our team can help you to understand your options and find the best mortgage for your needs.
Contact us today to get started!
WHO CAN QUALIFY FOR MORTGAGE IN DUBAI?
In order to qualify for a mortgage in UAE, you will need to meet the following criteria:
- You must be at least 21 years old.
- You must have a regular income.
- You must have a good credit history.
- You must have a UAE residency visa.
- You must have a property in a freehold area.
If you meet all of these criteria, you should be able to qualify for a mortgage in Dubai. However, the final decision will be made by the lender and they may require additional information from you.
WHAT DOCUMENTS ARE REQUIRED TO OBTAIN Mortgage IN DUBAI?
You will need to provide the following documents when you apply for a mortgage:
- A copy of your passport and UAE residency visa
- Your latest bank statements
- Your latest salary certificate
- Proof of address
- Proof of income
Once you have gathered all of the required documents, you can start the application process. It is important to note that the documents required may vary depending on the lender.
HOW TO APPLY FOR Mortgage IN DUBAI?
The first step is to compare mortgage offers from different lenders. This will help you to find the best deal for your needs. Once you have found a few options, you can start the application process.
The application process for a mortgage in UAE is similar to the process in other countries. You will need to fill out an application form and provide the required documents. The lender will then assess your application and make a decision.
If you are approved, you will be given a loan offer. This offer will outline the terms and conditions of the loan. You can then decide whether to accept or reject the offer.
Once you have accepted the offer, you will need to sign the mortgage contract. This contract will outline your rights and responsibilities as a borrower. Once the contract is signed, the lender will transfer the funds to your account and you can start making monthly payments.
Dubai Mortgage Rates
The interest rate on a mortgage in UAE will depend on a number of factors, including the type of loan, the lender, and your personal circumstances.
The rate of interest on home loans in Dubai averages from 2.99 to 5%. In the past, these rates have been lowering and are expected to continue doing so in the future. However, this is not set in stone and things could always change.
The repayment period for mortgages in Dubai is usually 25 years. However, some lenders may offer longer or shorter periods. It is important to consider the repayment period when you are comparing mortgage offers, as this can have a big impact on the total amount you will need to repay.
FAQ’s
Can you get mortgages in Dubai?
Yes, you can get mortgages in Dubai. You will need to meet some criteria and provide some documents, but the process is similar to other countries.
How much does a mortgage cost in Dubai?
The cost of a mortgage in UAE will depend on the interest rate and the repayment period. The average Dubai mortgage interest rate is 2.99-5%. The repayment period is usually 25 years.
Can foreigners get mortgage in UAE?
Yes, foreigners can get mortgages in the UAE. The minimum requirement is that you have a UAE residency visa.
What is the minimum down payment required for a mortgage in Dubai?
The minimum down payment required for a mortgage in Dubai is usually 20%. However, this can vary depending on the lender.
Is it difficult to get a mortgage in Dubai?
No, it is not difficult to get a mortgage in UAE. The process is very simple and straightforward. However, you will need to meet some criteria and provide some documents.