Home Loan
If you want a financial facility to purchase or renovate a home. You can get funding from the top financial institutions in Dubai at the best rates. Mortgage loans can be the best deal. The property purchaser gets the financing and can repay the home loan in installments. You can get home ownership through monthly payments made over an agreed period.
Apply For a Home Loan in Dubai With Us
Premier Finance helps you in the financing of your dream home in Dubai. We know a thing or two about this country’s financial market, making us the best candidate for your home loan in Dubai. A minimum salary is required to get a loan from a financial institution; down payment requirements, a fixed-rate period, and fees are applicable. You can contact our mortgage brokers in Dubai to determine whether you satisfy eligibility criteria and how much of a loan you can get depending on your financial position. Our expert mortgage advisor is equipped to give the best advice.
Purchasing a new place can be scary. So, our process was made as simple and quick as possible to ease the pressure. It all starts by filling out an online application form with your details and documents. Once you press submit, our expert team will look at it right away to select the best home loan in Dubai for expats. They’ll inspect your monthly income (minimum salary and salary transfer), mortgage loan history & outstanding loan amount (through UAE Central Bank), and property value to ensure eligibility.
This usually takes several business days. If you get approved, we’ll send you a formal offer for a house loan in Dubai outlining everything you need to know and the financing terms. We also help you get a loan against property in Dubai. But before anything, we want you to understand how much transparency is prioritized here.
We want you to be informed and comfortable with every aspect involved in getting the best home finance in Dubai. Check out our home loan calculator to learn more about mortgage rates, discounted, variable, and fixed-rate mortgages. These options can help you compare home loans to your needs. Contact us now and find the best home loan solutions.
Home and Mortgage Loan
A home loan in UAE is a financial product banks or other financial institutions offer to help individuals buy a property. The loan amount, interest rate, and repayment period can vary depending on the borrower’s economic situation and the lender’s terms and conditions. This type of loan is ideal for people who want to purchase a home but need more savings funds.
Mortgage and home loans are similar, but there is a critical difference in the form of collateral. In a home loan, the property you are purchasing serves as collateral. However, you may have to present another property as collateral with mortgage loans. If you, as the borrower, fail to repay the loan, the lender can seize the Dubai property mortgage and sell it to recover the outstanding debt.
Although they have different names and definitions, in the UAE, home and mortgage loans are primarily used interchangeably with slight variations in terms and conditions. The interest rates can differ for UAE nationals, residents, and non-residents.
Types of Home Loans in UAE
Here is a general categorization of the types of home loans in the UAE –
Fixed Rate Home Loan
In a fixed-rate home loan, the interest rate remains fixed in the entire loan tenure. This type of home finance in UAE offers predictability regarding monthly payments and is suitable for those who want to plan their finances.
Variable Interest Rate Home Loan
A variable rate home loan is a type of loan where the interest rate is subject to change during the tenure of the loan based on market conditions. This type of house loan in Dubai gives flexibility in terms of interest rates, which can either go up or down depending on the market conditions.
Islamic Home Financing
This Sharia-compliant home financing is based on the principles of Islamic finance. It is a type of home finance in Dubai that is interest free (riba). There is a structured partnership between the bank and the borrower.
Benefits of Home Loans in Dubai
One of the most difficult parts about buying a home in Dubai is meeting all the requirements. But that process can be easy when you have a good financial partner. Here are some of the benefits you’ll get with Premier Finance for Home Finance Dubai:
- Straight-forward process of the application
- Easy loan repayment options
- Dedicated support
- Low-interest rates
- There are no early settlement fee
Why Choose Premier Finance?
Finding a home is a painstaking process. However, getting a property loan in Dubai is yet another challenging task. But here at Premier Finance, we aim to provide you with excellent personalized home loan services in the most convenient way possible as one of the best financial institutions in Dubai. That’s why you should choose us to apply for a house finance in Dubai.
Tailored Solutions and quick processing
- We avoid serving customers with generic options. Instead, we offer some of the best options for home loans in the UAE that cater to exactly what you’re looking for.
Competitive Interest Rates
- Nobody likes having high-interest rates on anything, including Dubai property mortgage loans. Our team at Premier Finance works hard to negotiate the best interest rates we can for our customers. Ensuring they get the most cost-effective option, including a fixed rate home loan.
Transparent Process
- We know nobody likes surprises, especially when it comes to their money. So, we treat our clients just how they deserve. By providing transparency throughout every step of home finance in the UAE. Promptly inform them of any updates and details about their home loan application.
Sometimes, letting someone else handle things for you is easier than doing it yourself. We understand this very well at Premier Finance, which is why we want to be there to help you find your next home and get the best home finance in UAE in a headache-free manner. After all, nobody wants to make a big decision by themselves, even if it’s something as simple as going out for dinner or choosing what clothes work well together. You can also check the mortgage calculator to understand better the down payment, interest rate, and overall home loan amount.
FAQs
What is the minimum salary for a home loan in Dubai?
Many Banks in the UAE have a minimum salary requirement of 10,000 AED for nationals and 15,000 for residents. Moreover, applicants need to arrange at least a 20% down payment. If an applicant pays more for the down payment, the interest rate and EMI come down.
How much is a downpayment on a home loan in Dubai?
To obtain a mortgage in the UAE for the first time, the Central Bank mandates a down payment of 20% of the property’s value, while UAE nationals must pay only 15%. This down payment includes all related costs. Non-residents and expatriates interested in purchasing a property below AED 5 million must pay a down payment of at least 20% of the property’s value (15% for UAE nationals).
What is the interest rate in UAE for home loan?
You can find mortgage rates in UAE ranging from as low as 1.99% to as high as 7% of the loan amount.