Mortgage Finance

OUR SERVICES

Capabilities

Address:

Office - M10, WAFI Residence Offices, Al Razi Street, Healthcare City, Dubai

Email:

info@ayaanfin.com

Phone line:

+971-56-4130023

Opening hours

10am-7pm Mon - Fri

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SERVICE DETAILS

Obtaining a mortgage in the UAE involves several steps and considerations. Here is a general overview of the mortgage finance process in the UAE:

THE PROCESS

1 Eligibility

1. Residency Status
Generally, you need to be a resident of the UAE to be eligible for a mortgage. However, some banks offer mortgages to non-residents.
2. Age
Most banks have age restrictions; typically, the borrower should be below a certain age at the time of the last installment payment.

Choosing the Right Mortgage

1. Fixed vs. Variable Rate:
Decide whether you want a fixed-rate mortgage (with a constant interest rate) or a variable-rate mortgage (where the interest rate can fluctuate).
2. Loan-to-Value (LTV) Ratio:
Banks often finance a percentage (usually 75-80%) of the property's value. You need to pay the rest as a down payment.
3. Loan Term:
hoose the loan term (usually 15-25 years) based on your financial situation.

3 Documents Required

1. Passport and visa copies
2. Proof of income (salary certificates, pay stubs, etc.)
3. Bank statements
4. Proof of address (utility bills)
5. Property documents
6. Down payment proof

4 Mortgage Pre Approval

Get pre-approved for a mortgage to understand your budget and show sellers that you are a serious buyer.

Property Valuation

The bank conducts a valuation of the property to assess its worth.

6 Mortgage Offer and Acceptance

Once approved, the bank will provide a mortgage offer detailing the terms and conditions. Review the offer carefully, including interest rates, fees, and repayment schedules. Sign the offer and return it to the bank.

7 Insurance

Mortgage protection and property insurance are often mandatory.

Down Payment and Disbursement

Pay the down payment as per the agreed terms. The bank disburses the loan amount directly to the property seller.

9 Repayment

Set up a repayment plan. You can often choose monthly, quarterly, or yearly payments.

10 Legal Aspects

Consult with a legal advisor to understand all legal aspects of the mortgage agreement and property ownership.

Post-Purchase:

Regularly make mortgage payments to avoid penalties. Understand the potential impact of interest rate fluctuations on your payments.

IMPORTANT CONSIDERATIONS

INTEREST RATES

Understand whether the interest rate is fixed or variable and how it can impact your monthly payments.

LEGAL ASSISTANCE

Consider hiring a legal advisor experienced in UAE property laws to navigate the legal aspects.

FEES

Be aware of all associated fees, including processing fees, valuation fees, and early settlement fees.

Mortgage Finance

OUR SERVICES

Capabilities

Address:

Office - M10, WAFI Residence Offices, Al Razi Street, Healthcare City, Dubai

Email:

info@ayaanfin.com

Phone line:

+971-56-4130023

Opening hours

10am-7pm Mon - Fri​

SERVICE DETAILS

THE PROCESS

1

Eligibility

1. Residency Status Generally, you need to be a resident of the UAE to be eligible for a mortgage. However, some banks offer mortgages to non-residents. 2. Age Most banks have age restrictions; typically, the borrower should be below a certain age at the time of the last installment payment.

Choosing the Right Mortgage

3

Documents Required

1. Passport and visa copies 2. Proof of income (salary certificates, pay stubs, etc.) 3. Bank statements 4. Proof of address (utility bills) 5. Property documents 6. Down payment proof

4

Mortgage Pre Approval

Get pre-approved for a mortgage to understand your budget and show sellers that you are a serious buyer.

Property Valuation

The bank conducts a valuation of the property to assess its worth.

6

Mortgage Offer and Acceptance

Once approved, the bank will provide a mortgage offer detailing the terms and conditions. Review the offer carefully, including interest rates, fees, and repayment schedules. Sign the offer and return it to the bank.

7

Insurance

Mortgage protection and property insurance are often mandatory.

Down Payment and Disbursement

Pay the down payment as per the agreed terms. The bank disburses the loan amount directly to the property seller.

9

Repayment

Set up a repayment plan. You can often choose monthly, quarterly, or yearly payments.

10

Legal Aspects

Consult with a legal advisor to understand all legal aspects of the mortgage agreement and property ownership.

Post-Purchase:

Regularly make mortgage payments to avoid penalties. Understand the potential impact of interest rate fluctuations on your payments.

IMPORTANT CONSIDERATIONS

Unlock your business potential with innovative corporate banking solutions and expert guidance in the UAE

RESOURCES

Address : Office - M10, WAFI Residence Offices, Al Razi Street, Healthcare City, Dubai

Email : info@ayaanfin.com

Phone : +971-56-4130023+971-56-9044110

Opening hours : 10am-7pm Mon - Fri

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1. Residency Status
Generally, you need to be a resident of the UAE to be eligible for a mortgage. However, some banks offer mortgages to non-residents.
2. Age
Most banks have age restrictions; typically, the borrower should be below a certain age at the time of the last installment payment.

1. Passport and visa copies
2. Proof of income (salary certificates, pay stubs, etc.)
3. Bank statements
4. Proof of address (utility bills)
5. Property documents
6. Down payment proof

Phone :
+971-56-4130023
+971-56-9044110

Opening hours : 10am-7pm
Mon - Fri

Request a free
consultation with us